Orioles and Maryland Agree on Lease Extension for Camden Yards
Agreement Allows for Start of Renewal Process
Team and Stadium Authority Hopeful for Final Lease Agreement
BALTIMORE -- Maryland officials have approved a lease extension for the Baltimore Orioles at Camden Yards. The Orioles' lease expires in less than five months, and the team's ownership has been seeking a better deal.
The new agreement allows the Orioles and the stadium authority to start the process of negotiating a long-term lease. The team has put up a sign on the video board at Oriole Park that says the team and the Maryland Stadium Authority have agreed to a lease extension.
A Maryland official on a powerful state board said Wednesday that there's too much at stake for the state to not reach an agreement with the Orioles. The team is a major economic driver for the city of Baltimore, and the state has invested heavily in Camden Yards.
The Orioles have been playing at Camden Yards since 1992. The stadium is widely considered to be one of the best in baseball, and it has been a major factor in the team's success over the years.
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