A copy of an uncompleted draft agreement between Orioles
Owner Peter Angelos and the Maryland Stadium Authority for the
purchase of the Bucs showed the state's investment could have
been up to $20M more than the $200M projected for Baltimore's new
NFL team, according to the Baltimore SUN. The agreement was
dated January 10, 1995, but Malcolm Glazer bought the team six
days later and the deal was never ratified by the MSA. Included
in the deal is a $3M payment where the state would have become a
limited partner in the team. MSA's contribution would have also
included $10M in expenses and the agreement would have allowed
Angelos to sell naming rights to the stadium. Art Modell's
agreement with MSA prohibits him from selling stadium naming
rights. Angelos declined to comment on the agreement but former
MSA Chair Herbert Belgrade disputes critics who say Modell's deal
is more lucrative to his team than offers made to other teams,
adding, "They may get less." Other differences included allowing
the Bucs unrestricted use of PSLs, while Modell is limited to
$80M, and a state reimbursement to Angelos' investment group of
up to $2.5M in legal fees and $10M for paying NFL fees and buying
out the lease in Tampa. Modell will pay such fees through PSL
sales (Jon Morgan, Baltimore SUN, 2/16).
BACK TO THE PRESENT: Officials of the Baltimore NFL team
have tentatively made mid-March their target date to begin moving
from their training complex in Berea, OH, to their new, but
temporary, headquarters in Owings Mills, MD. Today is the
deadline for the city and surrounding counties to submit
proposals for the team's new headquarters and training complex.
Team VP David Modell said no deadline has been set by the club or
NFL Properties on a name or color scheme (Mike Preston, Baltimore
SUN, 2/16).
