Orioles Owner Peter Angelos announced major ticket-price
increases for next year that will add $1 to $5 to the price of
more than 85% of the seats at Camden Yards. Angelos said he
expects the move to be "unpopular" among ticket buyers, but said
an increase was justified to recoup $15 million in strike-related
losses: "We simply had no other way to go. Obviously, the
financial viability of the club must be maintained for the
purpose of giving Orioles fans a No. 1 baseball club." The
Orioles joined the Rockies and the Yankees as the only teams to
raise ticket prices for next season (Mark Hyman, Baltimore SUN,
11/13). Orioles officials said they believe the team was on
course to turn an operating profit of $12M in an uninterrupted
'94 season, but instead will suffer an operating loss of
approximately $3M (Mark Maske, WASHINGTON POST, 11/12). The
Orioles announced their plans in full-page ads in the WASHINGTON
POST and the Baltimore SUN. The ad compared the O's ticket
prices to those of the Redskins, Capitals, Bullets and
Baltimore's CFL franchise.
