Orioles’ Camden Yards Rent Payment Sheds Light On Finances
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Orioles Pay $7.1M In
Rent For Camden Yards
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Despite being “almost assured of finishing the year with the biggest attendance drop-off in franchise history,” the Orioles paid the Maryland Stadium Authority $7.1M in rent for Camden Yards for the fiscal year that ended June 30, “the highest figure ever generated and about $300,000 more than the stadium authority had anticipated,” according to Rick Maese of the Baltimore SUN. The Orioles’ rent is a “complicated formula that draws from several sources of revenue,” including 25% of ballpark advertising, 50% of parking, 7.5% of concession revenues and 7% of ticket sales. Stadium Authority Exec Dir Alison Asti said, “Try looking at it like your own portfolio. If one area is down, you can count on another being up, so at the end, you have a balanced portfolio.” Maese notes through 70 home games, the Orioles’ attendance is down “nearly 6,000 a game,” and by the end of the season, about 450,000 fewer fans will have bought tickets. Orioles Owner Peter Angelos said this spring that the team lost $15M last year (Baltimore SUN, 8/29).
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