After yesterday’s announcement by the Orioles and Maryland Governor Wes Moore indicated that Moore and Orioles chairman John Angelos had reached a deal to keep the Orioles at Camden Yards for another 30 years, the details of the agreement released today paint a less certain picture of the agreement. As noted by Jeff Barker of The Baltimore Sun, the agreement isn’t a new lease. Rather, it’s a “memorandum of understanding” that the Orioles will remain at Camden Yards for the next 30 years, with Barker adding that the agreement is legally non-binding.
Per Barker, Governor Moore’s office indicated that, in addition to the long-term lease not yet being complete, an extension of the current lease “for at least a year or two” may be necessary because the sides have not yet agreed upon the deal’s final terms. As the Orioles note in their press release, the memorandum includes a 99-year agreement that gives the Orioles to invest private capital into developing the area around Camden Yards, including the warehouse and Camden Station. Barker adds that the Orioles figure to pay $94MM to the state over the length of the agreement.
Andy Kostka of The Baltimore Banner notes that the terms of the memorandum, which he describes as “an agreement on some issues and a promise to continue working toward a long-term lease,” stipulate that the Orioles would no longer pay rent to use the ballpark, and in exchange would take over the costs of upkeep for the stadium, which are currently the responsibility of the state of Maryland. Kostka adds that the sides still expect to have a lease signed before the current deal expires on December 31, though many of the details of the agreement are still being worked out, including oversight of the aforementioned development prospect, which will include both the Maryland Stadium Authority and the Orioles.
Today’s announcement that no lease has been signed is something of a surprise, given the club’s announcement of a deal during last night’s win over the Red Sox that saw the Orioles clinch their first AL East title since 2014. That being said, the memorandum signed by both sides of the negotiations represents what should be an important milestone toward getting a deal completed in advance of the club’s current lease expiring at the end of the 2023 calendar year. The state of Maryland, Angelos, and MLB commissioner Rob Manfred have all routinely emphasized that there is no risk of the Orioles departing Baltimore, even as negotiations regarding the club’s lease at Camden Yards have dragged towards the eleventh hour of the current deal.