In a recent memo to front office employees, Baltimore Orioles chairman and CEO John Angelos said he looks forward to signing a new lease with the Maryland Stadium Authority, keeping the team at Camden Yards, according to the Baltimore Sun. "As a lifelong Baltimorean I very much look forward to signing on behalf of the Club," Angelos said in the memo dated Sept. 1.
Here are some more details (via the Baltimore Sun):
(Angelos) said in the memo that the lease would be part of a broader "memorandum of understanding" underscoring the team's "special relationship with the State of Maryland and the Greater Baltimore area" and highlighting "our philosophy of what true private-public partnership should be about."
...
The memo refers to long-term goals such as "redeveloping the Camden Yards Sports Complex into a year-round Live/Work/Play entertainment destination" that could boost the city's economic fortunes. The city, state, Orioles and Ravens are all involved in the redevelopment of the area around the stadiums and Horseshoe Casino.
The family of ailing owner Peter Angelos is currently entangled in a messy legal battle. Louis Angelos, Peter's youngest son, is suing his brother, John, and his mother, Georgia, claiming him they pushed him out and took control of the Orioles after Peter became incapacitated. The family recently hired an investment bank to assess a potential sale.
There have been rumblings John and Georgia Angelos could move the Orioles to Nashville, where John's wife, Margaret Valentine, works in the music industry and where a group including Dave Stewart, Bob Kendrick and Justin Timberlake have been pushing for a team. The local Baltimore legislature recently committed $1.2 billion to facility upgrades to keep the Orioles and the NFL's Ravens in town.
Last year, the Orioles and the Maryland Stadium Authority agreed to a two-year lease keeping the team at Camden Yards through Dec. 2023, with the team holding an option for a five-year extension. There is no timetable for the club to sign a new lease and a new long-term lease could depress the sale price.
At 81-76, the Orioles have clinched their first non-losing season since 2016. They are the first team to go from 110 losses one season to a .500 record the next since the 1890 Louisville Colonels, according to ESPN.
