The Ravens unveiled plans for a massive renovation project at M&T Bank Stadium Tuesday morning.
The stadium, which opened in 1998, will undergo a $144 million facelift over the next several years to vastly improve the gameday experience for Baltimore fans. As the Ravens make the investment in the stadium, the team will also increase ticket prices for the upcoming season.
This will be the first increase in season ticket prices in four years.
"Since our last ticket price increase in 2013, we have invested $45 million of our funds to make improvements at M&T Bank Stadium, including advanced Wi-Fi capabilities for fan use, redesigned concession stands, concourse upgrades and LED board advances," Ravens Sr. Vice President of Ticket Sales and Operations Baker Koppelman wrote in a letter to season-ticket holders.
Baltimore has only raised prices once in the last eight years, and the Ravens were in the bottom half of the league in ticket prices during the 2016 season.
The exact amount of the price change will range from 4.7-10.3 percent depending on where the seats are located. The price increases will bring an 8 percent growth to the Ravens' ticket revenues.
The upgrades that the Ravens will make to M&T Bank Stadium are far-reaching, and a notable improvement for next season will be the installation of a new set of video boards that will dramatically improve the current RavensVision boards.
Samsung will make and install the new video boards, which will be significantly larger with a much sharper picture that utilizes the best available technology. In addition to the improved main video boards, the team will install new video boards in the four corners of the stadium. As part of the video board upgrade, the team is building a new control room to handle the gameday video production.
The Ravens will also add escalators and more elevators to make it much easier for fans for access the upper concourse.
"We are very appreciative of the support you have given us," Koppelman wrote. "Thank you. We always strive to compete at a high level and provide an excellent gameday experience that you can enjoy with family and friends."