Latest news with #LeaseAgreement
CBS News
13-08-2025
- Business
- CBS News
Baltimore Orioles, Maryland have not started negotiations on development around Camden Yards
The Baltimore Orioles and the state of Maryland have not yet started talks on redeveloping the area around Camden Yards. WJZ's media partner, The Baltimore Banner, reports that no progress has been made on negotiations under new owner David Rubenstein. The state and former Orioles owner John Angelos signed an extension on the current lease in 2023, which started the clock on a four-year window for the team and state to reach a deal on building around the ballpark. Through the lease agreement, the Orioles were awarded $600 in state bonds to improve the baseball stadium and the surrounding area. The Orioles were also given access to conduct inspections and site evaluations to move forward with creating a redevelopment plan, Maryland Gov. Wes Moore's Office told the Banner. The governor's office also said that the Orioles have not yet submitted their redevelopment plans. "Since then, the team has not submitted a redevelopment plan, but the Maryland Stadium Authority and the Moore-Miller administration stand ready to begin engaging with the Orioles regarding their vision for redevelopment for the Camden Yards complex," the governor's office said in a statement to the Banner. In December 2023, the Baltimore Orioles and the Maryland Stadium Authority agreed on a long-term lease deal to keep the Orioles at Camden Yards. The length of the term hinges on whether the Orioles get the necessary approvals to redevelop land around the ballpark. It is an issue they must resolve by the end of 2027. If the redevelopment proposals go through, the lease would last for 30 years, and the team would have the option to extend it beyond that. You can read more here. "This is a very large and complex deal. We're talking about a deal that is a multi-decade deal keeping one of the most storied franchises in all of sports in the city of Baltimore," Gov. Wes Moore said at the time. "We were just very consistent. …We knew this was not going to be something that was going to be bulldozed through. You had to work in partnership to get this done, and that is what our team committed to."
Bloomberg
26-05-2025
- Business
- Bloomberg
China's Ambassador Warns Australia Over Port of Darwin Lease
China's ambassador to Australia has warned Canberra to be careful in its handling of the lease of a strategically important port, after Prime Minister Anthony Albanese pledged to bring it back into his country's hands. Ambassador Xiao Qian said the 99-year lease for the Port of Darwin in the Northern Territory was awarded to Chinese company Landbridge in 2015 'through an open an transparent bidding process,' according to a statement published to the embassy's website Sunday, adding the company had made 'significant investments' since then.
