Banc of California Signs Deal With LAFC Vikings Building Glass-Walled Bar Outside Stadium Red Wings' Arena To Have Outdoor Plaza Real Salt Lake Breaks Ground On $50M Facility TiqIQ Rebrands As TicketIQ Houston Considering Basketball Arena Name Change Oklahoma Stadium Project On Schedule Phillies' Galvis Calls For More Safety Netting Tax Hikes Enough For Chargers' Stadium? Facility Notes
WHEN THE LANDLORD COMES, YOU GOTTA PAY UP
Published August 1, 1995
The Orioles paid a "partial" rental bill of $1.95M yesterday to the Maryland Stadium Authority, according to Mark Hyman of the Baltimore SUN. Stadium officials report they expect rent for '95 to hit $4M, down from a record $5M in '93. The low rent "projections this year are attributable mostly to the late start to the regular season." Authority Fiscal Officer Dave Willis said each cancelled game cost them close to $100,000 in revenues with a $35,000 savings in expenses -- a net loss of $65,000/game. According to the team's 30-year lease, the O's rent is based on a percentage of revenues, including 50% of net parking, 7% of net ticket receipts, and 6.67% of concessions sold in the stadium cafeteria and delis (Baltimore SUN, 8/1).