It really seems like they're in a perfect trap.
The stadium is not a great baseball stadium but it is a very solid, functional building.
It's in an ideal location.
As the team just experienced, temporary relocation is not ideal.
There's no appetite for public funding.
A new stadium would cost, who knows, $2B? A proper reno would still cost hundreds of millions.
With the Argos gone and $250M on the table, I think they could go a long way to opening concourses, improving seating, recladding and otherwise making a lot of big and little improvements. It's not as ideal as a new stadium - but it probably makes the most sense for all concerned.