As part of the rebuild, the Orioles focused on developing younger, inexpensive talent, shrinking its player payroll by shedding more expensive players that acted as a drag on its finances. Accordin…
With a playoff spot in the bag, the Orioles’ rebuild is paying dividends on the field and seemingly in the team’s finances.
While the Orioles are now on much sounder financial footing, Orioles Chairman and CEO John Angelos recently said that the O’s — which he categorizes as a small-market franchise — may not be able to afford to offer long-term contracts to several of their young star players unless they raise prices “massively” for tickets, concessions and other items that fans buy.
If the Orioles do decide to sign their young stars — like Adley Rutschman, Gunnar Henderson and Grayson Rodriguez — to long-term, nine-figure contracts, the team’s profits likely will go down “because costs are going up and unless they get a big infusion in revenue, the gap gets smaller, for sure,” Coates said.
Orioles and state officials currently face a Dec. 31 deadline to sign a long-term lease to continue playing at the state-owned Oriole Park at Camden Yards, which opened in 1992 after being built with public money by the Maryland Stadium Authority. State taxpayers will provide at least $600 million more in upgrades if the Orioles sign the lease and commit the team to Baltimore for at least several more decades.
Still, the Orioles’ $1.7 billion value ranks 18th in MLB, according to Forbes, with the average club being worth $2.3 billion. The New York Yankees, a fellow member of the AL East, topped the rankings at $7.1 billion, with the Boston Red Sox in third at $4.5 billion. The team then lost money in 2020, according to Forbes, during the COVID-19 shortened season. But the seeds of the rebuild were germinating.since 2020, has said he doesn’t like to “run losses” or operate in the red., leaving the Forbes data as one of the only sources to consider as Angelos warns he would have to raise prices at Camden Yards to keep the team’s young stars.
But it’s become common practice around the majors for teams to secure their young stars with long-term contracts before they reach that stage of their careers. Those two players in particular, Baltimore’s first selections in the 2019 MLB draft, have fueled a turnaround that has the Orioles holding the best record in the American League as the playoffs approach.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cleveland Guardians, Baltimore Orioles series preview, pitching matchupsThe high-flying Orioles come to Cleveland leading the American League East Division.
Read more »
Astros Barely Holding on to Division Lead After Walk Off Win Against OriolesIt has been a wretched couple of weeks for the home town baseball team. After absolutely dismantling the Rangers in Arlington and taking two against the Padres at Minute Maid, something has gone monumentally wrong. In the nine games since, they are 3-6 and barely holding onto first place in...
Read more »
Guardians host the Orioles to open 4-game seriesThe Cleveland Guardians host the Baltimore Orioles at Progressive Field on Thursday to begin a four-game series.
Read more »
Baltimore Orioles vs Cleveland Guardians - September 21, 2023View the Baltimore Orioles vs Cleveland Guardians game played on September 21, 2023. Box score, stats, odds, highlights, play-by-play, social & more
Read more »
Orioles single-game postseason tickets are on sale: Here’s how to buy themThe general public can purchase single-game tickets for Orioles postseason games, though it’ s not yet clear when the team will play at Camden Yards during the playoffs, or who it will be pla…
Read more »