The Maryland Stadium Authority and Baltimore Orioles Agree to an Amendment to the Agreement Regarding Oriole Park at Camden Yards

Date

The Term of Lease now extended through December 31, 2023


Baltimore, MD –The Maryland Stadium Authority approved an Amendment to the Agreement Regarding Oriole Park at Camden Yards today at an ad hoc meeting of its Board of Directors. Through this Amendment, the MSA and the Baltimore Orioles (Orioles) established that the Term of Lease now extends through December 31, 2023, with the Orioles right to exercise a one-time, five-year extension by February 1, 2023.

“The Maryland Stadium Authority is pleased that the Lease discussions have resulted in this Amendment to the Agreement regarding Oriole Park at Camden Yards. The Baltimore Orioles have stated publicly that they remain committed to Baltimore and to Maryland. The MSA and the Orioles are currently discussing terms of a new lease and capital reinvestment that would keep the team playing in an upgraded Oriole Park at Camden Yards that would offer increased economic benefits from both baseball and year-round, non-baseball uses,” said Thomas Kelso, Chairman of the Maryland Stadium Authority.

This Amendment is contingent upon and subject to the approval of the Maryland Board of Public Works (BPW). Once signed by both the MSA and the Orioles, this Amendment will be presented to the BPW and effective the date of that approval.

On September 2, 1992, the MSA and the Orioles originally entered into the Agreement Regarding Oriole Park at Camden Yards, that was amended, supplemented and/or modified from time to time by various documents and collectively referred to as the Lease. The Lease commenced on April 1, 1992 and continued until the last day of December 2021, the year in which the Orioles would complete their 30th Championship Season at the ballpark. The Lease provided that the Orioles have the right to extend the Term for one five-year period.

“In the generation since the “Ballpark That Forever Changed Baseball” opened in the heart of Maryland, Oriole Park at Camden Yards has attracted more than 72 million visitors to Downtown Baltimore. The Orioles are proud of our one-of-a-kind partnership with the Maryland Stadium Authority and the more than $10 billion in local impact we have created together for the residents of the city and state that we have called home for 67 years.

“The Orioles partnership group that has managed Oriole Park to this spectacular level of returned economic impact are native Marylanders with a vision of continuing our long-term commitment as economic development and community contributors for generations to come. At a moment when we are all coming together to meet the public health and economic challenges brought by the COVID-19 crisis, today's partnership extension by the MSA and the Orioles is an important collaborative step as the Chairman and Board of the Maryland Stadium Authority join together with the Chairman and Leadership of the Baltimore Orioles Limited Partnership group in fulfilling our aligned vision,” said John Angelos, Orioles Chairman and CEO.

“By working in partnership with the Orioles, Oriole Park at Camden Yards remains a world-class facility in Major League Baseball that inspired urban revitalization across the nation. MSA understands and appreciates public interest in the Lease and the future of this beloved ballpark. While we cannot comment publicly on details of ongoing negotiations, MSA, together with the Orioles, promises to keep fans informed of major developments, as appropriate,” said Michael J. Frenz, Executive Director of the Maryland Stadium Authority.
 

The MSA was established by the Maryland General Assembly in 1986 to build, manage, and maintain quality facilities to retain Major League Baseball, and return the National Football League to Maryland. MSA’s mission has expanded and evolved over the years to include sports marketing, and numerous economic studies and construction projects, and programs. To date, MSA has completed $3 billion of projects across the state.

During the challenging environment of the COVID-19 pandemic, MSA partnered with the teams, non-profit organizations, city and state agencies to utilize the Camden Yards Sports Complex to provide nourishing meals to Marylanders in need, a safe, socially distanced place to vote, and soon a mass vaccination site.


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Contact:
Rachelina Bonacci
Public Information Officer
Maryland Stadium Authority
The Warehouse at Camden Yards
333 W. Camden Street, Suite 500
Baltimore, MD 21201
410.977.0381
rbonacci@mdstad.com

Press Release Category
rachelina
Mon, 02/08/2021 - 04:44 pm

Next MSA Board of Directors Meeting


Tuesday, June 1, 2021, 12:00PM
The Warehouse at Camden Yards
Executive Conference Room
333 W. Camden St., Suite 500
Baltimore, MD  21201

Agenda and Live Stream link
posted here in advance of meeting


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