New neighbor could net Orioles a better lease deal Team has 'parity' clause that would allow revision

The Browns' Move To Baltimore

November 07, 1995|By Brad Snyder | Brad Snyder,SUN STAFF Sun staff writer Buster Olney contributed to this article.

Orioles owner Peter G. Angelos might have lost out on his bid to own a football team and may lose some parking spaces, but he might gain a better lease.

In his agreement with the Maryland Stadium Authority, Angelos has a "parity" or "me too" clause that allows him to receive a lease agreement equal to the one signed by the NFL's Browns.

Angelos did not want to discuss the specifics of the Browns lease' yesterday.

"It is important for the economic well-being of the Baltimore metropolitan area and the state of Maryland that the Camden Yards complex be completed," Angelos said. "Securing an NFL team for the Baltimore area and the state of Maryland is something I've advocated for a long time. Once a Camden Yards complex is completed, it will continue to be -- even more so -- the envy of every metropolitan area across the country."

Under his current lease, Angelos pays the stadium authority a variable percentage of his revenues and the state pays operating, maintenance and security costs.

But the Browns may have received a more lucrative deal. Their stadium is to be rent-free, but they will cover operating, maintenance and security costs.

Stadium authority officials were well aware of the discrepancy and the possibility of renegotiating with Angelos.

"I'm sure they would want an opportunity to renegotiate," stadium authority general counsel Alison L. Asti said.

But Asti denied that the Browns had gotten the better deal.

"If the Orioles pay for operating and maintenance in lieu of rent, it would really be a wash," she said.

The only other issue affecting the Orioles is parking.

Asti said the new football stadium would eliminate 2,000 of the 5,000 parking spaces guaranteed as part of Angelos' lease.

The stadium authority is exploring off-site parking and has set aside $10 million for land acquisition and a possible above-ground garage to rectify the situation, Asti said.

DTC If no alternate parking situation can be found, Asti said the stadium authority would pay Angelos for the net loss of the parking spaces.

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