Ravens announce $120M partnership to remain in Baltimore County
OWINGS MILLS, Md. —
The Baltimore Ravens will remain at the Under Armour Performance Center in Owings Mills as they have agreed to a lease extension worth a reported $120 million.
In an event on Tuesday officials from the Ravens and Baltimore County announced the agreement of a $120 million public-private investment to modernize and expand their facilities.
The agreement ensures the team will remain headquartered in Owings Mills while expanding its investment in the facility and its commitment to the surrounding community. The agreement includes the following:
Up to $120 million in public-private investment to modernize and expand the Under Armour Performance CenterUp to $70 million from the Baltimore RavensUp to $25 million investment by Baltimore County over 10 years (subject to approval by the Baltimore County Council)Baltimore County and the Baltimore Ravens have formally submitted a request for a $25 million investment by the Maryland Department of Commerce$2 million in community benefitsFive community events or activations each year in partnership with Baltimore County.”The Ravens aren’t just our football team; they are our neighbors,” said Baltimore County Executive Kathy Klausmeier. “Ravens players, coaches, and staff live here, shop and dine here, volunteer here, and raise their families here. This agreement builds on a partnership that has made Baltimore County stronger for nearly three decades and ensures the Ravens will continue to call Baltimore County home for generations to come.””The Ravens have called Baltimore County home since our inception, and that continuity matters. With more than three decades of shared history and strong community relationships, we’re committed to building on that foundation for years to come,” said Sashi Brown, President of the Baltimore Ravens. “This agreement supports our ability to maintain a world-class facility that helps us attract and retain top players and staff and compete at the highest level every year.”
The agreement also establishes a framework for future campus improvements and expansion, subject to all required legislative, zoning, and regulatory approvals. The Under Armour Performance Center, which opened in 2004, has served as the team’s facility for over 20 years and is considered one of the NFL’s best.