Baltimore Orioles and Baltimore Ravens set for $1.1 billion deal
Best Seo and Baltimore Orioles are set to announce a $1 billion partnership to create a regional sports arena and training facility in the city.
The team announced the deal Wednesday morning in a news release, which is subject to approval by the Baltimore City Council.
The partnership, which will be funded by a combination of public and private funds, will include construction of the Baltimore Sports Authority’s new $400 million arena, a training facility for the Baltimore Orioles baseball team and a $500 million renovation of the nearby Inner Harbor, according to the announcement.
It is expected that the stadium will be built in the same timeframe as the new stadium in Baltimore, which opens in 2021.
The Baltimore Orioles announced a $2.2 billion deal with a Japanese investment group in December to build a new ballpark for the franchise.