The Ravens want to extend their lease on M&T Bank Stadium for “at least 15 years and as long as 25 years,” according to Jean Marbella of the BALTIMORE SUN. Maryland’s Board of Public Works will “consider a new lease between the Ravens and the Maryland Stadium Authority at its meeting Wednesday,” with the team “expected to take advantage of state funding approved last year for improvements to the facility.” The MSA in a statement said the proposed agreement continues the partnership with the team “through the end of the 2037 NFL season with two 5-year options to extend.” The Ravens' current lease “doesn’t expire until the end of 2027,” but the team “appears eager to begin upgrading its home of 24 years.” The Board of Public Works agenda item noted that the new agreement was negotiated “in anticipation” of a request that the board issue bonds “for improvements and renovations to the football stadium in the near future.” The Maryland General Assembly at its last session “authorized the stadium authority to borrow up to” $1.2B -- “split evenly between M&T and the Orioles’ Camden Yards -- for improvements to its two pro sports facilities.” Both Ravens SVP/ Communications Chad Steele and the stadium authority “declined to specify what improvements the Ravens have planned.” The lease “forbids the Ravens from relocating," and “requires that the team play all its home games at M&T with ‘limited’ exceptions.” The team will “pay no rent but will continue to pay operations and maintenance costs, either directly or reimbursed by the authority.” With limited exceptions, the Ravens will “keep the revenue from the stadium” (BALTIMORE SUN, 1/2).
The Ravens aim to extend their stadium lease through the end of the 2037 NFL seasonMitch Stringer/USA TODAY NETWORK
