Development rights, extra $300 million reportedly 'off the table' in O's lease talks
BALTIMORE - The Baltimore Orioles lease at Camden Yards runs out on December 31, and as of now, there is no word on when an extension will be agreed upon.
Our media partners at The Baltimore Banner reports that Maryland Gov. Wes Moore remains confident an extension will be signed before then.
Multiple members within the governor's administration told The Banner that a short-term lease extension will not be required to keep the O's at Camden Yards.
Those officials said the lease agreement would keep the team in Baltimore for "decades to come" and could be a catalyst to revitalize downtown, The Banner reports.
Orioles CEO John Angelos will not get an extra $300 million in state funds on top of the $600 million already guaranteed, nor will he get exclusive rights to develop part of the state-owned property, a source told The Banner.
Both of those ideas are now off the table.
Once the lease is signed, the Orioles will get that $600 million in state bonds for upgrades and renovations.
Oriole Park at Camden Yards opened in 1992.
