The Orioles announced on Monday that they have reached an agreement on a new lease with the City of Baltimore that will keep the team at Camden Yards for the next 30 years. The agreement comes more than a week after Governor Wes Moore had "paused" the process because of concerns expressed by State Senate President Bill Ferguson concerning the transfer of land development rights to the Angelos family, the Orioles franchise owners. The Orioles' previous lease with the City of Baltimore was set to expire on Dec. 31.
According to Rich Dubroff of BaltimoreBaseball.com, the lease is actually a 15-year arrangement that will convert to 30 years provided the Orioles and the State of Maryland can agree on a commercial development plan within four years that concerns the Warehouse and former Maryland Sports Legends Museum.
"Our management group took the Orioles to the top of the league this season, and now, in partnership with Governor Wes Moore and his Administration, they made this deal happen," John Angelos, the Orioles' managing partner, said in a team-issued statement. "Most importantly, I'm happy we can deliver on our promise to fans of keeping the Orioles here for 30 more years, marking the 100th season of the team in Baltimore."
The future of the Orioles had become a constant point of speculation over the last several years. Earlier this month, rumors surfaced suggesting that Baltimore native and private equity giant David Rubenstein was in talks to acquire the franchise. A lawsuit that was settled earlier this year also saw Louis Angelos -- John's brother and longtime owner Peter's other son -- accuse John of intending to relocate the franchise to Nashville, Tennessee. (John has served as the Orioles' main person of control since Peter -- the franchise's owner since 1993 -- became mentally incapacitated.)
At least for the time being, it appears that the rumors can stop swirling around and about the Orioles' long-term geographical home.
