By StadiumBusiness.com
The Baltimore Ravens NFL team has extended its lease deal to play at M&T Bank Stadium for at least the next 15 seasons, until 2037.
The agreement, which includes two five-year options to extend the lease beyond 2037, was presented to the
Maryland Board of Public Works and received unanimous approval.
The Maryland Stadium Authority will continue to work closely with the Ravens to ensure M&T Bank Stadium is upgraded to remain a “best-in-class” facility in terms of safety, amenities, and fan experience.
The Ravens said the new deal will also provide the opportunity to expand the economic impact of games and other year-round activities at the stadium. The team’s previous deal had been due to expire in 2027.
Thomas Kelso, chairman of the Maryland Stadium Authority, said: “The Maryland Stadium Authority is extremely pleased with the new stadium lease agreement with the Baltimore Ravens at M&T Bank Stadium that continues our strong partnership with the team through the end of the 2037 NFL season with two five-year options to extend.
“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.”
Ravens president Sashi Brown added: “We thank the Board of Public Works, and Governor [Larry] Hogan for supporting this agreement. We are excited that M&T Bank stadium will be home to the Ravens for at least the next 15 seasons.
“We also look forward to working with 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 game-day experiences and to attract world-class concerts and events to Baltimore and the capital region.”
M&T Bank Stadium has been home to the Ravens since it opened in 1998. The new lease deal has been signed as the stadium celebrates its 25th anniversary this year.
