Owner
Posted 30 September 2022 - 09:31 AM
Balt Sun: Orioles intend to sign new lease committing team to remaining in Baltimore
https://www.baltimor...nt=631664547894
Document: The Orioles intend to sign a new lease with the Maryland Stadium Authority committing them to remaining in Baltimore even as the family of ailing owner Peter Angelos battles in court over control of the team.
HOF
Posted 30 September 2022 - 09:35 AM
From the article:
Under the new approach, approved last spring by the General Assembly and signed into law by Gov. Larry Hogan, the stadium authority can borrow up to $1.2 billion to pay for stadium improvements —$600 million each for the Orioles and Ravens. But no bonds can be issued without a lease, and the lease must be long enough to pay off the longest-term bonds.
HOF
Posted 30 September 2022 - 09:59 AM
All of this is silly. The Orioles aren't going anywhere with or without the Angelos family.
Of course they intend to sign a lease, and they will. They just don't want to sign it now because they've been (successfully, btw) working to undermine the value of the franchise for other purposes. The Orioles can extend the Lease for 5 years. They will. ...and when things look better from a revenue/attendance perspective in a couple of years (ie negotiating leverage), they'd love to work that new deal based on something other than some of the worst attendance in the League.
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