ST. PETERSBURG, Fla. — It was bound to happen eventually.

The Orioles on Monday unveiled a multiyear partnership with T. Rowe Price that includes a uniform patch on the sleeve of Baltimore’s jerseys, with the patches to be worn for all regular-season and postseason games. The patch features the investment and wealth management firm’s bighorn sheep logo on a blue background.

The Orioles will begin wearing the uniform patch on Tuesday for the series opener against the Atlanta Braves. According to a release, the sponsorship deal was led by David Rubenstein, the billionaire and philanthropist who serves as Baltimore’s control person, and Rubenstein’s co-owners at Charm City Sports Partners LLC (Michael Arougheti, Mitchell Goldstein and Michael Smith).

T.J. Brightman, the Orioles’ senior vice president and chief revenue officer, said in a phone interview that Baltimore began the process of searching for a jersey patch sponsor two years ago. The Orioles talked with more than 50 companies over about a 16-month period, Brightman said.

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Brightman said T. Rowe Price will have branding on the back of the home and visiting dugouts and signage around the park, including a permanent sign behind home plate, a rotational sign there like other partners, and an outfield wall sign. A main scoreboard sign will debut after the All-Star break.

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“When a company like T. Rowe Price steps up, it’s never a bad thing for our baseball economics and feeding the engine,” Brightman said.

“The future of the Baltimore Orioles and the City of Baltimore is bright,” Rubenstein said in a statement. “We are delighted to welcome T. Rowe Price to Birdland at such an eventful time on and off the field. Our organizations share a dedication to hard work, innovation, professionalism, and integrity, and we have committed our long-term futures to this city. We look forward to a long, successful partnership as we work to bring the World Series trophy back to Baltimore.”

“On behalf of the ownership group, I’d like to welcome the T. Rowe Price team to the Orioles family,” Arougheti added in a release. “We are confident that together we can achieve great things both on the field and in the greater Baltimore community.”

The partnership with T. Rowe Price will also include a brand presence at the Orioles’ spring training facility in Sarasota, Florida.

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The collective bargaining agreement sealed in 2022 allowed MLB teams to acquire uniform patch sponsors. Since then, more than half of the 30 organizations have announced sponsorships. The New York Yankees and Boston Red Sox, two of the Orioles’ American League East rivals, earned hefty contracts for their deals. The Yankees’ contract with Starr is worth at least $25 million a year, per Sportico. Boston’s deal with Mass Mutual is worth about $18 million.

T. Rowe Price, which is headquartered in Baltimore, is opening a new office in Harbor Point in late 2024.

“One of the first things we talked about strategically was finding a company that had Baltimore ties,” Brightman said. “It was a bonus the company was based here in Baltimore.”

When the organizations developed the jersey patch logo, it was a collaborative process to “come up with a design that worked for both,” Brightman said.

Earlier this year, before former control person John Angelos sold the majority ownership of the club to a group led by Rubenstein, the Orioles and T. Rowe Price came close to another agreement. There was movement toward selling the stadium naming rights of Oriole Park at Camden Yards to the firm, but it fell through when a sale of the team occurred.

“This marquee sponsorship with the Orioles is an important part of a comprehensive global brand strategy for T. Rowe Price and our active management capabilities,” said Theresa McLaughlin, the head of global marketing for T. Rowe Price. “It gives us a terrific platform through Major League Baseball to reach millions of fans nationally and internationally.”

Andy Kostka is an Orioles beat writer for The Baltimore Banner. He previously covered the Orioles for The Baltimore Sun. Kostka graduated from the University of Maryland and grew up in Rockville.

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