Thursday December 7, 2023

Orioles End Uncertainty With New 30-Year Lease Deal

  • New agreement follows more than three years of back-and-forth negotiations
  • Venerable stadium set to receive large-scale upgrade
Evan Habeeb/USA TODAY Sports
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The uncertainty is finally over for the Baltimore Orioles.

After three years of often-frustrating negotiations involving the Orioles, Maryland Stadium Authority, and two different Maryland governors, a new 30-year lease extension will keep the team at the publicly owned Oriole Park at Camden Yards — in turn ending a series of rumors of a potential franchise relocation. 

In recent weeks, both Maryland Gov. Wes Moore and Orioles chairman and CEO John Angelos expressed growing confidence a lease deal would get done. And in the third inning of Thursday’s Orioles home game against Boston, the team announced the lease extension on the stadium videoboard, and then showed both Moore and Angelos in attendance.

“Earlier today, the Orioles, Gov. Wes Moore and the state of Maryland, and the Maryland Stadium Authority agreed to a deal that will keep the Orioles in Baltimore and at Camden Yards for at least the next 30 years!!,” the announcement read.

Pressure had been rising as the prior lease deal was due to expire on Dec. 31.

The agreement in particular will pave the way for a large-scale update of the 31-year-old Camden Yards, as the pact unlocks $600 million in state bonds for stadium upgrades. 

Moore’s office is set to hold a press conference on Friday morning to outline the pact in more detail.

The lease extension also arrives as the Orioles are in the midst of a resurgent season that saw the team earn its first postseason berth since 2016. On Thursday, the Orioles also clinched the American League East division title and top overall seed in the AL playoffs. 

This story will be updated

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