Navy and Notre Dame met for the ninety fifth time this previous Saturday, with the Fighting Irish successful, 35-32, after holding off a rally from the Midshipmen. More than 4,000 midshipmen, who got here up from Annapolis, had been among the many 62,124 in attendance at M&T Bank Stadium for the sport televised on ABC.
For such particular occasions held on the venue, the stadium’s proprietor, the Maryland Stadium Authority, and the Ravens, who function it, break up the revenue or loss from the occasion. The stadium authority additionally receives amusement tax from ticket gross sales — every ticket features a 10% amusement tax, with 80% of that (8% of the entire ticket value) going to the stadium authority.
The stadium authority contributed $300,000 of these tax {dollars} to the Ravens, in accordance with figures obtained by way of a Public Information Act request.
Although the stadium authority will not be contractually obligated to present the Ravens any of the tax cash for such occasions, it typically does in an effort to advertise a “live, work, play” surroundings on the Camden Yards advanced and encourage extra particular occasions — past simply Ravens and Orioles video games — to happen there, just like the Paul McCartney live performance that Oriole Park hosted in June.
The stadium authority has given the Ravens about $2.4 million for the previous 4 Navy video games in Baltimore: $900,000 every for the 2014 and 2016 Army vs. Navy video games and $345,532.61 for a 2014 recreation towards Ohio State. The authority didn’t contribute such tax {dollars} to the Ravens for the 2 most up-to-date Maryland video games at M&T Bank Stadium (towards West Virginia in 2013 and towards Penn State in 2015).
Earlier this 12 months, the stadium authority gave the Ravens $150,000 for internet hosting the Arsenal vs. Everton soccer match and, at the moment, Maryland Treasurer Dereck Davis, a Democrat, stated the stadium authority was being “callous and reckless with the people’s money.”
He identified that there isn’t a formal settlement between the stadium authority and the Ravens to herald future occasions. Davis declined to remark particularly on the contributions to the Navy vs. Notre Dame recreation, however a spokesperson for Davis stated his stance has not modified.
A Ravens spokesperson didn’t reply to a request for touch upon the Navy vs. Notre Dame contribution, and the stadium authority didn’t remark for this text.
However, the stadium authority this summer time defined its reasoning for not maximizing its income from particular person occasions, saying it has a long-term imaginative and prescient and needs to extend the entire variety of occasions hosted on the stadium and ballpark, which it says will generate extra income down the street.
Stadium Authority Chairman Thomas Kelso stated this summer time that denying monetary requests from the Ravens or Orioles might cut back the inducement for the groups to herald extra concert events and video games.
“We’re not thinking in terms of maximizing it at one event,” Michael Frenz, the stadium authority’s govt director, stated this summer time. “We’re looking at maximizing revenue over some longer-term horizon.”
For instance, with the McCartney live performance, the stadium authority allowed the Orioles to maintain all income generated by the present (whereas the stadium authority nonetheless took in lots of of hundreds of {dollars} in admissions tax).
According to Frenz, the Orioles have stated that sharing income from such occasions with the stadium authority is a “significant disincentive” to the workforce bringing in future occasions. He beforehand stated that’s why the stadium authority “elected to acquiesce to what they have told us and opt out from this financial participation in the Paul McCartney concert.”
The Orioles and the Ravens every have leases as tenants of the venues, with the Orioles’ set to run out on the finish of 2023 and the Ravens’ in 2027.
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Source: www.bostonherald.com