(Baltimore) The Maryland Stadium Authority (MSA) approved the extension of the Baltimore Orioles’ lease at Camden Yards on Monday, one of the final steps formalizing a long-term agreement between the team and the state.
The agreement must be presented late in the day to the State Office of Public Works, a committee chaired by the governor.
The Orioles’ lease at Camden Yards expires at the end of the year. In September, the team announced a new 30-year contract to remain there. Governor Wes Moore’s office then released details of a memorandum of understanding involving the club, the MSA and him.
Bill Ferguson, President of the State Senate, then expressed doubts about the development rights for the site included in this preliminary agreement. He has since approved the new plan presented.
The agreement extends the lease for 30 years, with an option clause allowing the Orioles to terminate it if the club does not obtain development rights around the stadium. The Orioles have until the end of 2027 to come to an agreement on this development agreement.
Last year, the state approved measures allowing loans of up to US600 million for each of the Ravens, NFL, and Orioles stadiums. The lease extension provides access to these funds for desired renovations at Camden Yards. The Ravens have already revealed their renovation plans.
