After promising the Baltimore Ravens up to $600 million worth of upgrades to their stadium if the team resigned its lease, the Maryland Stadium Authority is now exploring how to finance those renovations amid a difficult economic environment. Chief Financial Officer David Raith told the Stadium Authority’s board on Tuesday that the agency won’t be able to finance $435 million in planned improvements to M&T Bank Stadium with only tax-exempt bonds and is seeking the OK to find a bank loan or other financing to pay for up to $200 million of the project costs.
Rising interest rates could prove costly as Md. looks to finance Baltimore Ravens stadium upgrades
March 8, 2023