Orioles Decline Five-Year Lease Extension at Camden Yards, Pushing for Long-Term Deal and Area Redevelopment

| February 2, 2023 | 0 Comments

A deadline passed yesterday for the Baltimore Orioles to exercise a one-time, five-year extension with Maryland Stadium Authority (MSA) to stay at Oriole Park at Camden Yards. The Major League Baseball team is currently under a two-year lease that expires on December 31, 2023.

The team and Governor Wes Moore released a statement today saying both parties share a commitment to a multi-decade partnership to revitalize Oriole Park at Camden Yards and the surrounding area.

The Orioles initial 30-year lease expired at the end of 2021.

The statement from the Baltimore Orioles and Governor Moore:

Today, Governor Wes Moore and the Baltimore Orioles announced their joint commitment to creating a long-term, multi- decade, public-private partnership that both develops and revitalizes the Camden Yards complex as a magnet for sports tourism and leverages Maryland taxpayers’ investment in the property. Governor Moore and the Orioles look forward to continuing the conversation about the next evolution of this critical partnership for Maryland and the City of Baltimore.

Since 1992, Oriole Park has hosted more than 2,500 events, welcoming nearly 75 million fans and generating more than $10 billion in economic impact for the benefit of both the City of Baltimore and the State of Maryland. Under legislation passed by the General Assembly last year, a new lease agreement will unlock $600 million in funding for upgrades and improvements to Oriole Park at Camden Yards. The entire Orioles organization will continue to dedicate the necessary time and resources to ensure a shared vision for a reimagined Camden Yards site and revitalized surrounding downtown Baltimore area.

“When Camden Yards opened thirty years ago, the Baltimore Orioles revolutionized baseball and set the bar for the fan experience,” said GOVERNOR WES MOORE. “We share the commitment of the Orioles organization to ensuring that the team is playing in a world-class facility at Camden Yards for decades to come and are excited to advance our public-private partnership. We look forward to writing the next chapter of major league baseball in Maryland as we continue to make magic for fans and meaningful investment for communities across our state.”

“I am looking forward to continuing to collaborate with Governor Moore, his administration, and the Maryland Stadium Authority in order to bring to Baltimore the modern, sustainable, and electrifying sports and entertainment destination the State of Maryland deserves,” said JOHN ANGELOS, Orioles Chairman & CEO. “We greatly appreciate Governor Moore’s vision and commitment as we seize the tremendous opportunity to redefine the paradigm of what a Major League Baseball venue represents and thereby revitalize downtown Baltimore. It is my hope and expectation that, together with Governor Moore and the new members and new chairman of the MSA Board, we can again fully realize the potential of Camden Yards to serve as a catalyst for Baltimore’s second renaissance.”

The Orioles, the Moore administration, and the Maryland Stadium Authority look forward to reimagining Camden Yards to deliver a live, work, play theme that will bring residents, businesses, and tourists to downtown Baltimore year-round.

The Orioles announced in August that the team will open a SuperBook Sports betting lounge in the stadium in 2023. The team also announced in recent months that Fanatics is taking over the team stores at the stadium and Levy is taking over food and beverage operations.

The team additionally completed a $3.5-million project before the start of the 2022 season. This included pushing back the left wall, raising its height, and removing several rows of seats.

In January, the Ravens and MSA agreed to a 15-year lease extension for the team at M&T Bank Stadium. This includes two five-year options to extend.

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Founder and Publisher of SouthBmore.com, longtime resident of South Baltimore, and a graduate of Towson University. Diehard Ravens and O's fan, father of three, amateur pizza chef, skateboarder, and "bar food" foodie. Email me at Kevin@InceptMM.com and follow me on Twitter at @SoBoKevin.