Orioles Ownership And Maryland Have Stadium Funding Pact

0
178
Henderson and Rodriguez help Orioles go a game up on Rays in AL East with 8-0 victoryAP/PHPTO

The team will stay in Baltimore for at least 15 years.

You can take the Baltimore Orioles Major League Baseball franchise off of the possible relocation list. The Angelos family has a new deal with the Maryland Stadium Authority that will run for at least 15 years. The Maryland lease with the Angelos family was scheduled to end on December 31st. The deal between the baseball business and the stadium authority is just one phase of the agreement. Orioles ownership has until 2027 to reach an agreement with the state on a redevelopment plan near the baseball park. If there is no redevelopment plan, Orioles ownership has options. It could continue the lease for 30 years or opt out after 15 years. The Orioles ownership will not be allowed to relocate under the terms of the new agreement.

Maryland taxpayers are on the hook now for at least $1.2 billion worth of stadium renovations for the Orioles’ baseball park and the National Football League’s Ravens football stadium. In 2022, Maryland lawmakers increased bond authorization for the Baltimore Ravens’ facility and for the Orioles’ Camden Yards ballpark. The measure allowed borrowing of up to $600 million for renovations at each stadium. Major League Baseball Commissioner Rob Manfred still has a number of stadium issues ahead. The Oakland Athletics ownership has a tentative deal with Nevada lawmakers for hundreds of millions of dollars to go for building a Las Vegas stadium. The Tampa Bay Rays’ ownership is close to getting a deal done in St. Petersburg. The Milwaukee Brewers ownership has a stadium renovation deal in place with Wisconsin. Chicago White Sox owner Jerry Reinsdorf met with Nashville officials probably to let them know he needs some leverage in stadium negotiations with Chicago officials. The Arizona Diamondbacks ownership is looking for a new stadium in the Phoenix area and Kansas City Royals ownership wants a new stadium. It’s all in the game.

Evan Weiner’s books are available at iTunes – https://books.apple.com/us/author/evan-weiner/id595575191

Evan can be reached at evan_weiner@hotmail.com

(AP Photo/Julio Cortez)”