Warriors Hold Lavish Arena Groundbreaking Glen Taylor Commits $9M More To Arena Upgrades Braves Moving Spring Home To Sarasota County Seattle Mayor Arranging Talks With NHL, NBA Facility Notes Braves Pursuing Palm Beach County ST Complex Target Field Debt Being Paid Off Early FAA Approves Inglewood Stadium Project Goldman Committed To Financing Raiders' Vegas Venue Broncos Continue Search For Venue Naming-Rights
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).