Treasurer of Maryland calls out the Orioles lease negotiations

[spiritof66]

22 hours ago, accinfo said:

I agree that this is disconcerning but I doubt anything has changed since last week.  This sounds like a politician who isn't involved in any of this just stirring some stuff in the media.  Baseball isn't going to allow the Orioles to move with $600 million on the table and OPACY as their ballpark.  Angelos only has so much leverage.  Baseball can't force a sale as long as Peter is still alive.  It is safe to say though John Angelos will never own the Orioles.  

Small point. I don't think that's right, or at lease I don't think that was right. Peter gave control of team decision-making to his wife. So far as we know, the MLB owners never approved that transfer. I believe MLB and the Angeloses have a deal that allows the Angeloses to own the team until Peter dies, but I don't know that.

 

[Roll Tide]

3 hours ago, foxfield said:

John will get this taken care of soon.  He loves Baltimore.  I think he is going to work out a deal to bring in a partner and buy the O's.  I hear the partners name is something Ohtani.

He’d need hundreds of billions …not  hundreds of millions

[One eyed Bird]

Hard to deal with the devil and the Angelos family is nothing more than ambulance chasing P’sOS, they are right on par with bottle Bob Irsey, damn how can 1 city attract such scum bag ownership groups, at least we got the Biscuit  Thank goodness

[NCRaven]

1 hour ago, spiritof66 said:

Small point. I don't think that's right, or at lease I don't think that was right. Peter gave control of team decision-making to his wife. So far as we know, the MLB owners never approved that transfer. I believe MLB and the Angeloses have a deal that allows the Angeloses to own the team until Peter dies, but I don't know that.

 

The only part of this post that is factually correct is that you don’t know.

[X-O]

The Orioles aren’t going anywhere.  Some of you all need to lose the paranoia. 
 

This issue is about the Angelos’s wanting a deal more in line with what the Ravens get from the MSA.  The two teams aren’t treated the same by the MSA and tbh, it isn’t fair.  I don’t blame the Angelos’s at all on this one.  This one is on the MSA.

[accinfo]

3 hours ago, spiritof66 said:

Small point. I don't think that's right, or at lease I don't think that was right. Peter gave control of team decision-making to his wife. So far as we know, the MLB owners never approved that transfer. I believe MLB and the Angeloses have a deal that allows the Angeloses to own the team until Peter dies, but I don't know that.

 

Peter Angelos still owns the Orioles.  I am CPA and the whole point of waiting until someone passes in the tax code is the people that inherit his estate get the asset with the stepped up basis the day he passes.  In other words their "tax cost" is the fair market value at the time of death.  

[Frobby]

16 minutes ago, X-O said:

The Orioles aren’t going anywhere.  Some of you all need to lose the paranoia. 
 

This issue is about the Angelos’s wanting a deal more in line with what the Ravens get from the MSA.  The two teams aren’t treated the same by the MSA and tbh, it isn’t fair.  I don’t blame the Angelos’s at all on this one.  This one is on the MSA.

Could you elaborate on how the deal offered to the O’s differs from one made with the Ravens?   

[Going Underground]

5 hours ago, X-O said:

The Orioles aren’t going anywhere.  Some of you all need to lose the paranoia. 
 

This issue is about the Angelos’s wanting a deal more in line with what the Ravens get from the MSA.  The two teams aren’t treated the same by the MSA and tbh, it isn’t fair.  I don’t blame the Angelos’s at all on this one.  This one is on the MSA.

Under the agreement, the Ravens will not pay rent, but they will continue paying operations and maintenance costs for the stadium, which totaled almost $11 million in 2022..

Not sure what you mean about being treated unfairly. So John won't sign the new lease till he gets a deal more in line with the Ravens? Are you or someone you know in the negotiations? Because all the sides have been pretty quiet about everything with many no comments. Also putting out generic press releases. Can you elaborate on how they were treated unfairly in the prior years and how you know how they are being treated unfairly in these lease negotiations?

Edited July 21, 2023 by Going Underground

[Daddy-O's]

Different take on this. If I am an owner of a successful business and the State of Maryland was asking me to commit to the city of Baltimore long term, I would be concerned about the long term health of the city and can my business succeed there.  I would want to know that the state is also committed to the city.  What are assurances can they give me that my business will be located in a safe, thriving and attractive destination for my patrons.   It would be a real concern.

[Fan4Life]

10 hours ago, Frobby said:

Could you elaborate on how the deal offered to the O’s differs from one made with the Ravens?   

I don't know when the Ravens deal was done, but interest rates are way up over the last year and a half and  so could that play a role in what the MSA is able to offer?

[DrungoHazewood]

3 hours ago, Daddy-O's said:

Different take on this. If I am an owner of a successful business and the State of Maryland was asking me to commit to the city of Baltimore long term, I would be concerned about the long term health of the city and can my business succeed there.  I would want to know that the state is also committed to the city.  What are assurances can they give me that my business will be located in a safe, thriving and attractive destination for my patrons.   It would be a real concern.

What assurances could the governments of Baltimore and Maryland give you that would satisfy your concerns? Is that even possible? There are elected officials who play small parts in trying to solve large, systemic, long-term problems. They will certainly say that they have plans to improve things. If they're at all realistic they'll admit that shifting the reality of crime and poverty and drugs and the business climate in a city or a state is hard, and it will take the combined efforts of countless people working over years, or probably decades. Someone like the governor cannot be in office more than eight years, and at best he'll help put in place things that could move the city in a better direction and then pass the baton to someone else who may or may not have his same vision.

What you're asking for is likely a long-winded version of "I have some big plans, and I really think they're going to work out." And depending on your political leanings you may or may not put any stock in that.

If you own the Orioles you commit to the city whether or not some politician promises you the world. You have to rely on the history and the culture and the fanbase of the Baltimore Orioles.

[Frobby]

6 minutes ago, Fan4Life said:

I don't know when the Ravens deal was done, but interest rates are way up over the last year and a half and  so could that play a role in what the MSA is able to offer?

Good question.  I don’t know anything about the lease terms for either team.  It seems to me though that the economics of a football team’s attendance revenue and expenses compared to a baseball team are very different, so I wouldn’t necessarily expect the lease terms to be the same.  

[Going Underground]

21 minutes ago, Frobby said:

Good question.  I don’t know anything about the lease terms for either team.  It seems to me though that the economics of a football team’s attendance revenue and expenses compared to a baseball team are very different, so I wouldn’t necessarily expect the lease terms to be the same.  

The  state board of Maryland has so far approved $450 million to fund improvements to M&T Bank Stadium 

JP Morgan Chase is financing $200 million of this and I guess the other money will come from bonds.

If you go down in this article to the biz journal part,it explains a little more but things have changed with the JP Morgan financing. 

RFQ Construction Manager - Construction Management Services at M&T Bank Stadium
https://www.constructionjournal.com/projects/details/db2660f94d9c41258b5928523e8b377b.html

 

[Daddy-O's]

31 minutes ago, DrungoHazewood said:

What assurances could the governments of Baltimore and Maryland give you that would satisfy your concerns? Is that even possible? There are elected officials who play small parts in trying to solve large, systemic, long-term problems. They will certainly say that they have plans to improve things. If they're at all realistic they'll admit that shifting the reality of crime and poverty and drugs and the business climate in a city or a state is hard, and it will take the combined efforts of countless people working over years, or probably decades. Someone like the governor cannot be in office more than eight years, and at best he'll help put in place things that could move the city in a better direction and then pass the baton to someone else who may or may not have his same vision.

What you're asking for is likely a long-winded version of "I have some big plans, and I really think they're going to work out." And depending on your political leanings you may or may not put any stock in that.

If you own the Orioles you commit to the city whether or not some politician promises you the world. You have to rely on the history and the culture and the fanbase of the Baltimore Orioles.

It could be as simple as an out in the lease if certain crime rates don't decrease.  To treat it as a non-issue is not realistic.

[AlbNYfan]

31 minutes ago, Frobby said:

Good question.  I don’t know anything about the lease terms for either team.  It seems to me though that the economics of a football team’s attendance revenue and expenses compared to a baseball team are very different, so I wouldn’t necessarily expect the lease terms to be the same.  

I will admit up front that I know less about this than you. Some obvious to me may be in fact full of flaws. I suggest that baseball stadiums in general are subject to more wear and tear than football stadiums. 81 games vs 10 or 11 (including exhibitions). Huge amount of weekday games (at night) virtually none for football. That IMO would require the State to make assurances that neighborhood be safe and developed on a regular basis with ongoing funding. I'm sure there are more..but these two seem somewhat important.