O's CEO John Angelos Says He's 'Optimistic' About Lease Negotiations
BALTIMORE (WJZ) -- John Angelos, chairman of the board and CEO of the Baltimore Orioles, said Friday he's "optimistic" about the ballclub's negotiations for a new lease at Oriole Park at Camden Yards.
But he declined to predict a timeline for a new deal with the Maryland Stadium Authority, the state agency that oversees Camden Yards and M&T Bank Stadium.
The Maryland Stadium Authority on Feb. 8 announced a two-year extension to the team's current 30-year lease that was set to expire at the end of the 2021 season.
The stadium authority said it's working with the team to establish a new long-term agreement that includes upgrades to the facility.
In a press availability Friday, after it was announced Paul McCartney will perform at the stadium this summer, Angelos said he's committed to keeping the team in Baltimore and finding more ways to bring crowds downtown. He emphasized the team's relationship with the city and state.
"Baltimore is a great city and we need it," Angelos said. "We need more people coming back downtown. So sure, I think [the concert] does help the Orioles position in terms of saying 'we want to be part of the solution. We want to be a drawing card.' We want to continue to do what we've done over 30 years."
While Angelos wouldn't predict a timeline for a long-term agreement, he liked the idea of sealing a deal before Governor Hogan steps down next January.
"If we can do that during Governor Hogan's term, I think that would be wonderful for everybody," he said. "And certainly it would be appropriate because the governor has been a big supporter and is somebody that has a great vision for partnerships and for public-private partnerships."
The conversation comes as the team dramatically changes the look of Camden Yards by pushing back its left-field wall. The Maryland Board of Public Works voted in January to reimburse the Maryland Stadium Authority, for the cost of the changes via rent credits over the span of five years.
The rent credits would be available in 2022 and 2023. They would cover "up to one-fifth of the cost of the Left Field Project," per the Board of Public Works.
Additional rent credits would be made available to the Orioles if they continue to occupy the park in 2024, 2025, and 2026.