Two of Baltimore’s most recognizable buildings and brands are its two pro stadiums, Oriole Park at Camden Yards and M&T Bank Stadium, and the teams that inhabit them. The Orioles and Ravens bring attention, pride and joy to Maryland — and Maryland gives a lot of taxpayer dollars back to the teams.
The state of Maryland built and financed both of the Baltimore stadiums and, last year, agreed to earmark at least $1.2 billion to improve the stadiums — $600 million for each. The principal and interest on the bonds sold to cover those costs ultimately would be paid off with lottery revenue.
The Orioles, whose lease with the state expires Dec. 31, are currently negotiating a new lease with more state resources.
According to a Baltimore Sun review of financial documents obtained in public records requests and interviews with experts, the MLB club has received or is on track to get at least $1.3 billion in public benefits since Oriole Park opened in 1988.
Click here to read the rest of the article written by Hayes Gardner over at The Baltimore Sun
