Update on the lease negotiations

[Going Underground]

When the Orioles sign it ,this will make the city great again. Another joint statement ,but cannabis is now legal in Maryland. 

 

[Can_of_corn]

Yea, I'm sure that's all that is holding the city back.

[Sports Guy]

I believe it gets done but I just wish they would all stfu and get the job done. Their political posturing is annoying.

[maybenxtyr]

I really like when millionaires and politicians work together to fleece the most money out of taxpayers. It warms my soul.

[Orioles Jim]

I’m hoping that the delay is that they’re going to unveil a truly ambitious (and awe-inspiring) revitalization plan for the surrounding area that will cause great excitement.

A guy can dream, can’t he?

[interloper]

8 minutes ago, Sports Guy said:

I believe it gets done but I just wish they would all stfu and get the job done. Their political posturing is annoying.

Especially when you have the Ravens to compare to with their lease agreement and how breezy that was. 

Too many cooks in the kitchen on this one, and too much theoretical money involved. And probably too much ambition, too. It doesn't have to be this complicated. 

[Going Underground]

11 minutes ago, Orioles Jim said:

I’m hoping that the delay is that they’re going to unveil a truly ambitious (and awe-inspiring) revitalization plan for the surrounding area that will cause great excitement.

A guy can dream, can’t he?

But as the Baltimore Banner correctly points out that the area already has development around the stadium .Not sure where all this development will be located. Behind the Ravens stadium they have  started the Walk,as the entertainment district is called.Most of those parcels have been bought up by Ceasar's real estate division. Top Golf is open and soon the concert hall that will seat about 4,000. Hotel and other things are planned in the future. Also the Angelos family are billionaires not millionaires. 

 

Andy Kostka

 

Currently, the Maryland Stadium Authority owns the stadiums and nearby parking lots. The stadium is surrounded by businesses, restaurants and homes, so it is unclear what the redevelopment would entail. The Orioles and Angelos haven’t discussed any specifics for their plans.

Edited July 13, 2023 by Going Underground

[Going Underground]

What is John Angelos' net worth? As of 2023, John Angelos' net worth is an estimated $2 billion. He's earned much of that money through his family and from his job as both the chairman and CEO of the Baltimore Orioles, as well as the president and COO of the Mid-Atlantic Sports Network (MASN).

[Orioles Jim]

Yeah, here’s my view of the stadium area as I currently can see it. 
 

I also don’t see this tons of space for retail/dining/etc development but in the event that they are doing such a thing, I could see how that could take time.

[Going Underground]

The Baltimore Sun article on the lease  A slight jab at John

The team had the opportunity in February to exercise a one-time option in the lease to extend it by five years but declined, believing a set deadline would allow both sides to come together on a new agreement. Angelos’ hopes of a deal in mid-July were not as firm as the contract’s completion, but the end of the All-Star break represents another self-imposed timeframe that has come and gone.

On Martin Luther King Jr. Day in January, Angelos volunteered to reporters that he would reveal “the financials of the Orioles” and again said in February he would meet with reporters “before spring training is over.”

“When I say something, like I’m gonna sit down with you guys explain the business from my perspective, I’m gonna do it,” Angelos said. “I’m not gonna say it and walk away from it.”

The meeting never took place. The lease is a much more integral matter, however, as it is what officially binds the club to the city.

In 2019, Angelos notably declared that the Orioles will play in Baltimore “as long as Fort McHenry is standing watch over the Inner Harbor” and has reiterated that point several time in the years since. Angelos is incentivized to agree to a new lease to keep the team in Baltimore not only because it would validate his past comments, but also because it would give the team access to $600 million in public money to upgrade Camden Yards. The neighboring Ravens extended their lease with the MSA in January, gaining access to the funds.

Only a few months are left on the Orioles’ current agreement, though the team and the MSA could also agree on another short extension. But the All-Star break and Angelos’ hopes of a gift along with it are nearly over.

[Pickles]

Everything about this club with the exception of baseball ops is an abject embarrassment.

Everything about this city with no exception is an embarrassment, and frankly, a tragedy.

[Sports Guy]

1 minute ago, Pickles said:

Everything about this club with the exception of baseball ops is an abject embarrassment.

Everything about this city with no exception is an embarrassment, and frankly, a tragedy.

So, you are saying they are made for each other?

[Pickles]

Just now, Sports Guy said:

So, you are saying they are made for each other?

One dirty hand in another.

Don't overlook the politics of all this.  Disgustingly corrupt.

[dtk9119]

5 minutes ago, Pickles said:

Everything about this club with the exception of baseball ops is an abject embarrassment.

Everything about this city with no exception is an embarrassment, and frankly, a tragedy.

1000000% correct.

[Sports Guy]

9 minutes ago, Pickles said:

One dirty hand in another.

Don't overlook the politics of all this.  Disgustingly corrupt.

Of course. It’s a bunch of politicians/powerful figures just stealing money and trying to figure out how to do it to where we don’t realize it.

They are saying, you need to do X for us to sign. Just sign. You aren’t going anywhere. No one will approve you to move the team because they hate you.