The Maryland Board of Public Works has unanimously approved a new stadium lease agreement that will keep the team in Baltimore through the end of the 2037 NFLseason.
The deal between the Maryland Stadium Authority and the Baltimore Ravens extends the team’s commitment to remain in Baltimore, supports investment in M&T Bank Stadium and includes two five-year options to extend.
Following passage by the Maryland General Assembly of HB896, the MSA and the Ravens discussed their agreement well in advance of its 2027 expiration and investment in M&T Bank Stadium as it approaches its 25th year.
HB896 offered a significant incentive for the team to renew or extend its lease and remain in Baltimore. It also provides the opportunity to expand the economic impact of games and other year-round activities at the stadium, which will be upgraded in terms of safety, amenities and fan experience.
“The Maryland Stadium Authority is extremely pleased with the new stadium lease agreement with the Baltimore Ravens at M&T Bank Stadium that continues our strong partnership with the team through the end of the 2037 NFL season, with two five-year options to extend,” said MSA Chairman Thomas Kelso. “While fundamentally the same as the agreement presently in place, it offers greater protections to the MSA, additional revenue opportunities to the team that are in line with current stadium trends and opportunities to collaborate on improvements that will enhance the fan experience as afforded by the HB896 legislation.”
“We thank the Board of Public Works and Governor Hogan for supporting this agreement. We are excited that M&T Bank Stadium will be home to the Ravens for at least the next 15 seasons,” said Baltimore Ravens President Sasha Brown. “We also look forward to working with MSA to make key investments to ‘The Bank’ that Ravens fans deserve. These improvements will allow the Ravens to continue delivering one of the NFL’s best game day experiences and to attract world class concerts and events to Baltimore and the capital region.”