Update Again Again: OPACY lease officially official, done and approved, for real this time

[Frobby]

6 minutes ago, Es4M11 said:

I don't know. From my perspective it would be hilariously bad to come out and announce the 30 yr lease being signed on 9/28, only to drag it out to the last days and settle for a short term extension. Just signals to me that Angelos is not dealing in good faith as he pushes for more & more concessions.

I think that’s the most likely explanation, but not the only possible one.  It’s also possible as the Memorandum of Understanding became public, members of the legislature don’t like some of the terms and the Governor is trying to walk them back, or at least, minimize them.  

By the way, I stumbled upon a copy of the MOU online the other day.  Happy reading!

 

[Es4M11]

18 minutes ago, Frobby said:

I think that’s the most likely explanation, but not the only possible one.  It’s also possible as the Memorandum of Understanding became public, members of the legislature don’t like some of the terms and the Governor is trying to walk them back, or at least, minimize them.  

By the way, I stumbled upon a copy of the MOU online the other day.  Happy reading!

 

After reading, I could see how the second scenario is plausible. Items #3 and #7 are problematic. They want sole Orioles management and oversight of $600mm of public money? Seems like a great opportunity for embezzlement. And those lease terms in #7 are awfully generous.

 

[Frobby]

13 minutes ago, Es4M11 said:

After reading, I could see how the second scenario is plausible. Items #3 and #7 are problematic. They want sole Orioles management and oversight of $600mm of public money? Seems like a great opportunity for embezzlement. And those lease terms in #7 are awfully generous.

 

Yes, and the local press has been doing a good job of questioning this, which tends to keep the politicians on their toes.   

[Es4M11]

3 minutes ago, Frobby said:

Yes, and the local press has been doing a good job of questioning this, which tends to keep the politicians on their toes.   

And when do the Ravens come calling for their turn on the gravy train? Again, my understanding of this is limited, isn't there a provision in these lease deals that the Ravens and Orioles will receive equal concessions? If that is the case, I can't see any way that MOU is ever realized.

Imagine having this topic of discussion floating around for the next two years on a temporary lease.

[Frobby]

3 minutes ago, Es4M11 said:

And when do the Ravens come calling for their turn on the gravy train? Again, my understanding of this is limited, isn't there a provision in these lease deals that the Ravens and Orioles will receive equal concessions? If that is the case, I can't see any way that MOU is ever realized.

Imagine having this topic of discussion floating around for the next two years on a temporary lease.

Oh, I think that’s extremely likely.   

I’m unclear whether the “equal treatment” terms in the Ravens lease applies just to the lease terms, or all this extraneous development stuff as well.  
 

[Going Underground]

1 hour ago, Frobby said:

Yes, and the local press has been doing a good job of questioning this, which tends to keep the politicians on their toes.   

Plus the Baltimore Sun used the Maryland FOIA act to get some financial records and still didn't get all the information. Why should the taxpayers know what is totally going on?

 

The Orioles pay annual rent to their landlord, the stadium authority, which in turn pays for the ballpark’s maintenance, operation and capital expenses. That arrangement has favored the Orioles every year from 1993 to 2022, according to financial information provided by the stadium authority. The state paid a total of $310 million for Oriole Park upkeep while collecting $185 million in rent, a difference of $125 million.

The amount of state spending is actually greater: The Sun asked for information about annual capital expenses, but the stadium authority declined to provide it or say why it wouldn’t.

[Aglets]

27 days left until the team is de facto homeless.

Still not seeing very many stories in national (or esp local) news coverage.

IDK seems like this is something worth covering pretty closely.  Even if only to apply pressure to the......stubborn individuals in charge.

Edited December 4, 2023 by Aglets

[interloper]

Seems like it'll come down the last week and we'll just do a year extension and do all of this over again every year forever until the end of time. 

[Frobby]

10 minutes ago, Aglets said:

27 days left until the team is de facto homeless.

Still not seeing very many stories in national (or esp local) news coverage.

IDK seems like this is something worth covering pretty closely.  Even if only to apply pressure to the......stubborn individuals in charge.

Meh, they’ll just do a short term extension.  Nobody’s going anywhere.  

[Pickles]

7 minutes ago, interloper said:

Seems like it'll come down the last week and we'll just do a year extension and do all of this over again every year forever until the end of time. 

A boot stamping on a human face, forever.

[TradeAngelos]

 

[clapdiddy]

2 minutes ago, TradeAngelos said:

 

So they not only want to be handed a chunk of money to update/upgrade the stadium, they want rights to develop the surrounding real estate?   

[Can_of_corn]

Just now, clapdiddy said:

So they not only want to be handed a chunk of money to update/upgrade the stadium, they want rights to develop the surrounding real estate?   

And a pony!

[TradeAngelos]

So now what Johnny boy is doing is using the fact Wes Moore made this big deal of the "agreement" and announcement, and will look like a fool if it falls apart. Moore got played. So now he is trying to extort Moore for the land he wants, so essentially nothing has changed and here we are 3 weeks from deadline. Knowing politics, Moore will cave in somehow and Johnny will get his way. He won't put that egg on his face. This city and team disgusts me. Now go buy those season ticket plans and give them more money. As the payroll checks in around 50m and Johnny laughs all the way to the bank, to submit the plans for all the free land he just got. So he can bleed this city and fanbase or even more money without a darn thing in return.

[Aglets]

Good for the Banner to keep it out there.