Orioles agree to 30-year lease at Camden Yards

The Orioles are staying at Camden Yards for the foreseeable future, as Orioles chairman John Angelos and Maryland Governor Wes Moore announced this evening. The organization, the state of Maryland, and the Maryland Stadium Authority have agreed upon a new lease that will keep the Orioles in Baltimore for another 30 years. Per Andy Kostka of The Baltimore Banner, the deal includes two five-year extension options that could extend the terms of the lease into the 2060s.

The news brings to an end negotiations regarding the Orioles’ future in Baltimore. The club first moved into Camden Yards back in 1992 on a 30-year lease that was set to expire just three months from now, at the end of the 2023 calendar year. The Orioles held a five-year extension option on the club’s current lease but declined to exercise it this past February with the goal of reaching an agreement on a longer-term deal later in the year. That goal has now been achieved, though the specific terms of the deal between the club, the local stadium authority, and the state are currently unknown, with full details on the lease expected on Friday.

Angelos had previously been reported to be seeking additional funding and public land in the stadium deal as recently as last month, with Angelos reportedly interested in replicating The Battery in Atlanta, which houses not only the Braves’ Truist Park but a complex of various commercial and residential uses including apartments, restaurants, shops, and event spaces. Complicating those desires is the agreement the Maryland Stadium Authority has in place with the Baltimore Ravens, which contains a clause requiring parity between the Ravens and Orioles regarding the terms of their respective leases.

While it’s unclear if any of the funding or land Angelos was seeking is part of the new lease agreement, it’s worth noting that at the time of the report, sources indicated to The Baltimore Banner that the Orioles would not receive the land and funding they were seeking, and Kostka now reports that plans for a Battery-style development in Baltimore were taken off the table. Regardless of the final terms of the agreement, Kostka notes that the new lease will unlock $600M worth of state-financed bonds that the Orioles will be able to use to renovate the ballpark in the coming years.

With negotiations regarding potential relocation and stadium renovations nearing varying conclusions in Oakland (or rather, Las Vegas), Tampa, and now Baltimore, MLB continues to clear the way for a potential expansion effort in the coming years. That said, there are still teams that have expressed a willingness to move out of their current stadium: in recent weeks, comments from both Brewers owner Mark Attanasio and White Sox owner Jerry Reinsdorf have indicated a desire to secure public funding for stadium renovations in the future.