The Ravens have a new lease at M&T Bank Stadium that will keep them in Baltimore playing home games at M&T Bank Stadium at least through the end of the 2037 NFL season.
On Wednesday, the proposed agreement between the Ravens and Maryland Stadium Authority was presented to the Maryland Board of Public Works and received unanimous approval. There are also two five-year options to extend the lease beyond 2037.
"We thank the Board of Public Works, and Governor [Larry] Hogan for supporting this agreement," Ravens President Sashi Brown said. "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 gameday experiences and to attract world class concerts and events to Baltimore and the capital region."
The Maryland Stadium Authority will continue to work closely with the Ravens so that M&T Bank Stadium will be upgraded to remain a best-in-class facility in terms of safety, amenities and fan experience.
"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," Stadium Authority Chairman Thomas Kelso said. "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."
The new agreement will provide the opportunity to expand the economic impact of games and other year-round activities at the stadium.
"The Ravens are a world-class organization and a source of great pride for Marylanders," Governor Hogan said. "With the ratification of this historic agreement, we are securing the franchise's presence in Baltimore for decades to come, and advancing critical infrastructure upgrades for M&T Bank Stadium. I want to thank both the Ravens and the Maryland Stadium Authority for their continued partnership."