Maryland Stadium Authority Approves Lease Extension for Baltimore Orioles at Camden Yards

In an exciting development for baseball fans in Baltimore, the Maryland Stadium Authority has approved a lease extension for the Baltimore Orioles at Camden Yards. The approval comes as one of the final steps in formalizing a long-term agreement between the team and the state.

The Orioles' current lease at Camden Yards was set to expire at the end of the year. However, in September, the team announced a new 30-year deal to stay in the ballpark. Governor Wes Moore's office also released details of a memorandum of understanding involving the team, the Stadium Authority, and the Governor himself.

While the lease extension was met with initial concerns from some state officials, including Bill Ferguson, the president of the state senate, those concerns have since been addressed. The deal extends the lease for 30 years, with an option to end it after 15 if the team does not receive approval from state officials for development plans next to the ballpark. The Orioles now have until the end of 2027 to reach an agreement on that land redevelopment.

The lease extension is not only significant for the Orioles but also for the state of Maryland. Last year, the state increased bond authorization for both M&T Bank Stadium, home of the Baltimore Ravens, and Camden Yards. This measure allowed for borrowing of up to $600 million for renovations at each stadium. The lease extension now enables access to those funds for Camden Yards.

Governor Wes Moore expressed his excitement about the historic agreement, stating that it embodies the three core principles he laid out at the beginning of the process. He emphasized that the deal ensures baseball will stay in Baltimore for all to enjoy, prioritizes the interests of Maryland taxpayers, and benefits the entire city.

The agreement is now set to go before the Maryland Stadium Authority on Monday for final approval. It will also be presented to the state's Board of Public Works, a three-member board chaired by the governor, on the same day. The board meeting will take place at the warehouse next to Camden Yards.

The Orioles have confirmed their agreement with the lease extension in a statement, expressing their gratitude to the Maryland Stadium Authority, Governor Moore's team, and everyone involved in bringing the agreement to fruition. The stadium authority's website has also provided an agenda that includes consideration of a contract to extend the existing lease and create a development plan, as well as a draft agreement to memorialize the terms and conditions of the 30-year lease agreement.

With the lease extension now on track for final approval, Baltimore residents and baseball enthusiasts can look forward to many more years of exciting Orioles games at Camden Yards.