ExtremeRavens Posted August 5 Posted August 5 The Ravens will take over marketing for all events in the exclusive areas and club level of M&T Bank Stadium under a new deal with the Maryland Stadium Authority. The move, approved by the Maryland Stadium Authority board of directors, shifts promotional duties from the state agency to the team, which already has dedicated staff, established corporate partnerships and brand assets to help sell premium spaces. “The team’s rationale for doing this is that there are new spaces on the surface level and the new clubs,” Michael J. Frenz, executive director of the Maryland Stadium Authority, said at the group’s monthly meeting on Tuesday, Aug. 6. “Those are team-exclusive areas, so they control nongame-day catering there. We both agreed it didn’t make sense to bifurcate nongame-day catering between club-level events and other events.” Under the agreement, the financial arrangement will shift from a percentage-based system to a flat annual fee of $431,085 for fiscal 2025. That amount will rise 3% annually, a figure calculated by averaging 11 years of stadium revenues while excluding the lowest-performing years and the pandemic period. The change comes amid a major $489 million renovation of M&T Bank Stadium, which is scheduled for completion in 2026. The state earmarked $434 million in public funds for the project, but the Ravens will contribute an additional $55 million to cover cost overruns. The Maryland Stadium Authority will reimburse the team up to $35 million of that amount. Most of that funding comes from a 2022 state law authorizing the stadium authority to issue up to $1.2 billion in bonds for upgrades to M&T Bank Stadium and Oriole Park at Camden Yards — $600 million for each facility. The Ravens became eligible for their share of those funds in January 2023 after agreeing to a lease extension that keeps them in Baltimore through at least 2037. In addition, Al Tyler, vice president of the Capital Projects Development Group at the Maryland Stadium Authority, confirmed that all historic portions of Pimlico Race Course might not be salvaged in light of recent demolition work. Notably, Stall 40 — traditionally reserved for the Kentucky Derby winner when horses arrive for the Preakness Stakes — was mostly eaten away by a termite infestation. The stall has housed some of racing’s most celebrated champions, including Triple Crown winners Secretariat (1973), Seattle Slew (1977) and American Pharoah (2015). The goal is to reconstruct the stall with the salvageable material. “We think we can save the front, which is what you see in the pictures with the green front with the gate,” Tyler said at Tuesday’s meeting. “The back wall seems to be in pretty good shape. For what reason — I’m not sure why — the termites don’t like to make a left on the way down the road. But the sidewalls are gone.” The Maryland Stadium Authority began structural demolition at Pimlico last month, starting with the barns and outbuildings along Winner Avenue. The work will clear the way for a major redevelopment of the site. The project is part of a $400 million plan approved by state lawmakers in 2024 under House Bill 1524. The legislation authorizes the authority to fund a complete overhaul of Pimlico in Baltimore and build a new training facility at Shamrock Farm in Carroll County. Preparations for demolition began shortly after the 150th running of the Preakness Stakes in May. During construction, racing and training operations will shift temporarily to Laurel Park. Have a news tip? Contact Todd Karpovich at tkarpovich@baltsun.com or on X as @ToddKarpovich. View the full article Quote
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