Baltimore Ravens, Maryland could split the cost of a $489 million stadium upgrade under new proposal
A proposed memorandum, introduced Wednesday, could require the Baltimore Ravens and the state of Maryland to split the cost of a $489 million upgrade project at M&T Bank Stadium, according to our partners at The Baltimore Banner.
The Banner reported that the project will cost more than was initially estimated.
Under the proposed memorandum, the Ravens would pay $55 million and the state would pay $434 million. The state would also reimburse the Ravens up to $35 million. In total, the Ravens would contribute about $20 million.
The Maryland Stadium Authority Board approved the memorandum Wednesday, but it still needs to be approved by the state's Board of Public Works, along with a plan for financing.
M&T Bank Stadium Upgrades
The Ravens and M&T Bank Stadium announced the three-year upgrade project in 2023, along with the renewal of their naming rights deal.
The deal ensured the stadium would retain its name for the next 15 years, through the 2037 football season.
"We worked really well with the Maryland Stadium Authority," Ravens President Sashi Brown said. "We've got a good pool of capital that we're going to invest back into the stadium. We're hard at work with some of the best architects and designers in the world that do a lot of stadium design."
The team later detailed a series of construction projects at the 25-year-old stadium that they said would be completed in stages between 2024 and 2026. The upgrades inside and outside of the stadium should improve the gameday experience for fans, Brown said.
The team originally estimated the project would cost $450 million.
The plans include a redesigned North Plaza with new tailgate areas, a concert venue and a new team store that will be open year-round. The Gate House on the east side of the stadium will be a social space for fans.
Inside the stadium, the concourse will get an expansion on the upper level. Three new field-level clubs and west end zone suites will be added.
The South Club will feature a view of the Ravens player tunnel and the suites in the west zone will offer two rows of on-field seating. The Black Wing will include 10 individual suites, all connected by a private club.
Some upgrades unveiled
By the summer of 2024, some of the improvements at the stadium were revealed, including 138 new plush field-level seats.
The field-seating options on each side of the northwest and southwest corners of the field include membership for entrance into other field-level club spaces.
The stadium later revealed new social spaces for fans and unveiled The Black Wing with its suites and exclusive club area.
