A day after guzzling a beer outside of Oriole Park at Camden Yards, Gov. Larry Hogan has signed legislation allowing Maryland to borrow up to $1.2 billion for improvements to the homes of Baltimore’s professional sports teams.
The Maryland Stadium Authority, which acts as the landlord for Camden Yards and M&T Bank Stadium, sought to increase a debt cap for investment in the downtown Baltimore sports complex by more than five times the prior limit of $235 million. State-backed bonds would pay for renovations and upgrades to the aging stadiums, which were built more than two decades ago: Camden Yards opened in 1992, and the Ravens’ stadium followed six years later, in 1998.
The legislation sailed through both chambers of the General Assembly before lawmakers adjourned their 90-day session on Monday, which was also Opening Day for the Orioles’ home schedule. It became law with Hogan’s signature on Tuesday.
