BALTIMORE — The Orioles will decline an option to extend their Camden Yards lease by five more years, planning instead to secure a longer-term, more comprehensive stadium agreement, according to two people with knowledge of the situation.
The lease expires at the end of 2023, and the baseball team expects to reach a new agreement by then with the Maryland Stadium Authority, the sources told The Baltimore Sun on Wednesday. They are familiar with the thinking of negotiators, but requested anonymity because the decision had not yet been announced.
The bigger deal is expected to commit the team to Baltimore for many more years, as well as outline plans for upgrades to the state-owned ballpark. It also could include redevelopment projects at or near the site to boost the region’s economy.
