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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).