The Baltimore Orioles and the Maryland Stadium Authority have reached a deal on a new lease for Oriole Park at Camden Yards, with the length of the lease and issue of development surrounding the ballpark still to be determined.
The new lease, which was approved by the stadium authority today, releases some $600 million previously allocated by the state for Oriole Park improvements. While the base lease is set for 15 years, according to the Baltimore Sun, it can be extended another 15 years if the Orioles land development rights to state land at the Camden Yards area.
The new lease does not preclude the Orioles from developing the Camden Yards area, but it does address one objection from state legislators who opposed a development deal without a plan presented by the Orioles. During discussions about the new lease, State Senate President Bill Ferguson, for example, spoke out against a private entity like the Orioles awarded development rights on public land. Under the new lease, the state will have a say in the Camden Yards development but the Orioles aren’t precluded from presenting a plan. There are still plenty of conditions to be discussed at MSA meetings today and tomorrow, however, so we’re guessing we will see some more surprises in the leasing process emerge.
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