The Ravens plan to make a number of improvements and additions to M&T Bank Stadium, such as adding a parking garage, relocating the press box to build more suites, and building new plazas on the north and south sides of the stadium, according to a copy of the team’s new lease.
The 50-page agreement, which was approved by the state’s Board of Public Works last week, will keep the Ravens playing at M&T for the next 15 years, with two options for five-year extensions.
The team plans to develop both the stadium’s north and south plazas to include “fan hospitality areas,” as well as retail stores, according to the document.
It also plans to erect “fan hospitality structures” on the east and west exteriors of the stadium, though it does not detail what those entail.
The press box would be moved either to one of the top areas of the upper deck or the current suite level to accommodate new suites, according to the lease.
Other plans include constructing field-level suites near the west end zone; adding a garage to replace or expand parking in Lot E on the south side of the stadium; improving the TVs, bathrooms and branding in the concourses; upgrading both the club and suite levels; adding new staff areas; replacing some escalators; and modernizing some elevators.
That list could change with both the Maryland Stadium Authority and the team’s approval, the lease states.
The Ravens have also committed to community planning work in areas surrounding the stadium and Oriole Park at Camden Yards. And the area between the stadium and the Horseshoe Baltimore Casino is being redeveloped as an entertainment district. Topgolf, a driving range and bar, opened in fall 2022.
After the team’s lease with the state was approved, Ravens president Sashi Brown told reporters that “most of the material improvements will be ready for the 2024 season.”
“M&T has been one of the top, if not top, fan experiences in the NFL, which is why the investment that we’re going to make to the stadium is that much more exciting to keep us at that level, and to give Ravens fans a really exciting game-day experience,” Brown said.
At an event Thursday morning to announce a Billy Joel and Stevie Nicks concert in October, Brown emphasized the Ravens’ commitment to keep the team “home safe” at M&T Bank Stadium, and also said the team hopes to host more concerts and events.
“We know and believe that with the investments we make with MSA, this will continue to be one of the world’s great venues for a lot of events,” Brown said.
Under the new lease, the Ravens will not pay any rent, but the team will have to pay for ongoing operations and maintenance, which in 2022 cost $11 million, state officials said.
The team will also get all of the proceeds from games and events in the stadium, with MSA choosing to give up its portion of the revenue. The stadium authority will still collect 80% of the 10% amusement tax on ticket sales, with the city taking the remainder.
The Maryland Stadium Authority was recently granted authority to finance up to $1.2 billion worth of upgrades or renovations at M&T Bank Stadium and Oriole Park at Camden Yards through issuing bonds.
Reporters Pamela Wood and Tim Prudente contributed to this report