On Wednesday, Baltimore’s Board of Estimates approved a $150 million renovation of the city’s venerable Royal Farms Arena in a deal with facility operator Oak View Group and its partner Thirty-five Ventures, Kevin Durant’s holding company. Durant is a native of Prince George’s County, Maryland.
The arena, known as the Baltimore Civic Center when opened 60 years ago, was the home of the Baltimore Bullets — now the Washington Wizards — for 10 years between 1963 and 1973, a time when the Bullets featured Hall of Famers Earl Monroe, Wesley Unseld and Elvin Hayes. In 1969, it hosted the NBA All-Star Game. NBA preseason games have occasionally been held at the arena in the years since Bullets moved to Washington.
In more recent years, it has become mostly a concert and family show venue as well as a site for college and high school basketball. The city has long wanted to upgrade or rebuild the downtown facility which can seat up to 14,000 fans.
The five-member board voted 4-1 in favor of the city’s lease, development and operating agreement with Baltimore Arena Company LLC, a partnership between Oakview, which operates sports and entertainment facilities and specializes in such renovations, and Thirty Five Ventures, which will be an equity investor in the arena.
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