Hoping to convince a panel of arbitrators "that no contract or receipt specifies" a $10M payment by the Ravens for naming rights to PSINet Stadium, the Orioles continue to "press their case" that the NFL team did not pay for naming rights, a violation of "parity" clause in the Orioles lease with the MD Stadium Authority (MSA), according to Jay Apperson of the Baltimore SUN. The Orioles claim the Ravens' payments "were made under something akin to a shell game, where the team purportedly paid the naming rights with money that also was counted toward its contribution to stadium construction costs." Orioles attorney David Kendall asked Ravens CFO Luis Perez, "Are you aware of any canceled check the Ravens wrote to the [MSA] for $10 million for naming rights?" Perez said he was not. However, Perez, MSA General Counsel Alison Asti and former MSA Dir Bruce Hoffman testified that the team received naming rights only after agreeing to contribute an extra $10M to construction costs for the stadium. Hoffman: "It was the right thing to do to find other revenues to make this building right." While reviewing the "stiff language of legal contracts and financial audits" during hearings yesterday, arbitrator Neil Levy said, "I see confusion because the lease doesn't say '$10 million for naming rights.' It says '$10 million for unique design elements'" (Baltimore SUN 12/14).
