The Baltimore Orioles are a team on the rise, having won 101 games last season and having an exciting crop of young talent both on the big league roster and in the minor leagues ready to come up in the next couple of years.
In February, the team declined a five-year option on its lease with Camden Yards, where the Orioles have played their home games since 1992, pushing up the lease’s expiration to the end of 2023.
Despite the new expiration date, Orioles owner John Angelos repeatedly said that there was nothing to worry about and that the team wouldn’t be leaving Baltimore
On Monday, it became official. The Maryland Stadium Authority unanimously voted to extend the Orioles’ lease for at least 15 years.
The Orioles have five years to reach an agreement on a redevelopment plan regarding some of the areas around Camden Yards that the state owns. If an agreement isn’t reached, the Orioles can choose to end the lease after 15 years instead of the full 30.
“Baltimore, the deal is done,” Maryland governor Wes Moore said Monday at a news conference.
Per the terms of Monday’s agreement, the Orioles will not be allowed to relocate throughout the duration of the lease. The Orioles will also receive up to $600 million in public money earmarked for stadium improvements.
The state agreed in 2022 to give that money to both the Orioles and the Baltimore Ravens, and the Ravens recently announced over $400 million in stadium upgrades to be implemented between 2024 and 2026.
[KBAL TV]
