More Details Emerge About Orioles' New Stadium Lease
The Baltimore Orioles were able to let out a huge sigh of relief after their stadium deal to stay at Camden Yards was extended. There was some concern that something might not have been worked out before the current deal expired at the end of the year.
However, the state of Maryland and the Orioles were able to agree on something that keeps them in the city for the next 30 years.
It's exciting for Baltimore as the franchise has been able to put together a group of young talent that is projected to be perennial World Series contenders for the foreseeable future.
As expected, after the initial news was released regarding the new deal, some more details have emerged about what the lease entails.
According to Jake Rill of MLB.com, "Although the lease has been extended for 30 years, there is an option to end it after 15 years if the Orioles do not receive approval from state officials to develop the areas of land surrounding Camden Yards. The team has until the end of 2027 to reach an agreement on that front."
The original announcement back in September that was met with backlash included rights given to the Orioles that would allow them to develop the area around Camden Yards for the next 99 years.
There was pushback from legislators about a private entity being given those rights on government owned land.
This portion of the lease gives the franchise some certainty that the state will put resources into that area to make it more appealing to fans and other parties.
Rills also reports, "The finalization of the new lease deal unlocks $600 million to fund upgrades to the ballpark, because of legislation passed by the General Assembly in 2022 ... [CEO John] Angelos has stated plans to use the Orioles’ incoming assets to upgrade behind-the-scenes components of Camden Yards, such as boilers/air conditioning, amenities and seating. He has also expressed a desire to improve the audio/video systems and scoreboards, as the current ones were installed in 2008."
So, it looks like the franchise will stay in Baltimore for the next 30 years unless the state does not uphold their end of the bargain to allow development to occur around Camden Yards.
