M&T Bank Stadium long-term home of Ravens

Article posted by Coliseum, January 12^th, 2023

Image: Baltimore Ravens

The Baltimore Ravens of American football’s National Football League (NFL) have signed a new lease agreement to continue playing at their digs – the M&T Bank Stadium in Baltimore, Maryland (US) – through the end of the 2037 season.

‘Sportcal’ stated that the long-term agreement between the Ravens and the Maryland Stadium Authority (MSA) was unanimously approved by the Maryland Board of Public Works on January 4^th.

The M&T Bank has held naming rights to the stadium since 2003. It initially signed a 15-year deal that was renewed in 2014. The current agreement, worth $60 million, runs until 2027.

The Baltimore Ravens are a professional American football team based in Baltimore, Maryland, US. The Ravens compete in the National Football League (NFL) as a member club of the American Football Conference North division. The team plays its home games at the M&T Bank Stadium and is headquartered in Owings Mills, Maryland.

The 71,008-capacity M&T Bank Stadium is a multipurpose football stadium located in Baltimore, Maryland, US. It is the home of the Baltimore Ravens of the National Football League (NFL). The stadium is immediately adjacent to the 45,971-capacity Oriole Park at Camden Yards, the home of the Major League Baseball (MLB) team Baltimore Orioles.

The Maryland Stadium Authority (MSA) was established by the Maryland General Assembly 35 years ago to build, manage and maintain quality facilities to retain Major League Baseball (MLB), and return the National Football League (NFL) to Maryland. The MSA’s mission has expanded and evolved over the years to include sports marketing, numerous economic studies and construction projects and programs. To date, the MSA has completed $3 billion of projects across the State on-time and on-budget.

Jeffrey Provenzano, Vice-President, Facilities, Maryland Stadium Authority, US, is a Member of Coliseum Strategic Committee.

The M&T Bank Corporation (Manufacturers and Traders Trust Company) is an American bank holding company headquartered in Buffalo, New York, US.

‘Sportcal’ further stated that the 15-year deal also includes two five-year options to extend the lease beyond 2037.

As part of the extended lease agreement, the MSA will “Continue to work closely with the Ravens so that the M&T Bank Stadium will be upgraded to remain a best-in-class facility in terms of safety, amenities and fan experience.”

The two parties claim the new long-term contract will “provide the opportunity to expand the economic impact of games and other year-round activities at the stadium.”

The Ravens have played at the 71,000-seat M&T Bank Stadium since it opened in 1998.

Stated Sashi Brown, Ravens President, “We are excited that the M&T Bank Stadium will be home to the Ravens for at least the next 15 seasons. We also look forward to working with the MSA to make key investments to ‘the Bank’ that Ravens fans deserve. These improvements will allow the Ravens to continue delivering one of the NFL’s best gameday experiences and to attract world-class concerts and events to Baltimore and the capital region.”

Added Thomas Kelso, MSA Chairman, “The Maryland Stadium Authority is extremely pleased with the new stadium lease agreement with the Baltimore Ravens at the M&T Bank Stadium that continues our strong partnership with the team. While fundamentally the same as the agreement presently in place, it offers greater protections to the MSA, additional revenue opportunities to the team that are in line with current stadium trends and opportunities to collaborate on improvements that will enhance the fan experience.”

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