Baltimore Orioles, State of Maryland Agree to 30-Year Extension for Camden Yards
The team's lease with the stadium was set to expire at the end of the year
Posted On: December 19, 2023 By :Maryland officials have approved a 30-year lease extension for the Baltimore Orioles at Camden Yards, formalizing a long-term agreement between the team and the state with an option to end it after 15 if the team does not receive approval from state officials for development plans next to the stadium.
The agreement ends months of negotiations between the two entities, as the state’s Board of Public Works, chaired by Governor Wes Moore, voted 3-0 for the lease extension after it was approved by the Maryland Stadium Authority earlier in the day.
“After months of hard work, the Maryland Stadium Authority – in partnership with the Baltimore Orioles and the Moore-Miller Administration – is proud to deliver a long-term stadium lease extension that follows the three core principles that Governor Moore laid out at the beginning of this negotiation process,” said Maryland Stadium Authority Chair Craig Thompson. “This deal will ensure the continuation of the world-class fan experience Marylanders have come to expect from Camden Yards all while delivering a major economic boost to downtown Baltimore and the entire city.”
The Orioles’ lease at Camden Yards, which is owned by the state of Maryland, was set to expire at the end of the year. In September, the Orioles announced a 30-year deal to stay in the ballpark, and the governor’s office released details of a memorandum of understanding involving the team, the stadium authority and the governor. The Orioles have played at Camden Yards since 1992 and this past season ended with a playoff berth after an 101-win season and American League East title.
“This is a great day, and I am thrilled to tell you why, but first I want to say something that I have been waiting to say for a long time: Baltimore, the deal is done,” Moore said.
State Senate President Bill Ferguson, whose district includes the ballpark, had expressed concerns over the development rights agreement as part of the deal. The solution was greater oversight by state panels as it pertains to future development next to the stadium.
“Today, we stand here together, a group of individual leaders working as one to move forward not just the city of Baltimore, but the entire state of Maryland, to create a championship for this state,” Ferguson said.
Last year, the state increased bond authorization for nearby M&T Bank Stadium, home of the Baltimore Ravens, as well as Camden Yards. The decision allowed borrowing of up to $600 million for renovations at each stadium. The Ravens already have announced renovation plans for their venue, while the new lease at Camden Yards allows those funds to be accessed by the Orioles as well.
“Our management group took the Orioles to the top of the league this season, and now, in partnership with Governor Wes Moore and his administration, they made this deal happen,” said Orioles Owner John Angelos. “Most importantly, I’m happy we can deliver on our promise to fans of keeping the Orioles here for 30 more years, marking the 100th season of the team in Baltimore.”
Comptroller Brooke Lierman, who is one of the three members of the Board of Public Works, said it took months to finalize the deal in terms that keep the Orioles in Baltimore while providing the best value to taxpayers.
“I think the lease agreement we’re approving today is a culmination of that collaboration, and I’m confident that it’s a good deal for Marylanders,” Lierman said.
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