The Bananas are coming to town, but there won’t be a split.
When the barnstorming, showy baseball squad known as the Savannah Bananas visit Oriole Park at Camden Yards next year, the Orioles will keep all of the revenues generated by the event, the Maryland Stadium Authority voted Tuesday.
The decision, meant to encourage the Orioles to host such events, follows recent precedent.
As the owner of Oriole Park, the stadium authority can retain roughly 45% of the revenue from any special event hosted by the club — whether it’s the Bruce Springsteen concert this past September, a golf outing held in June or two Bananas games next August. The remaining 55% of the profits (or, in the rare case that the event does not break even, the loss) goes to the Orioles, as agreed to in the club’s lease with Maryland.
“Historically, though, the team has always said that having to split it this way was a significant disincentive to schedule these events,” the authority’s executive director, Michael Frenz, told the authority’s board during its monthly meeting.
The Orioles typically ask the state to “opt out” of financially participating, allowing the team to keep all of the revenues, just as they do for Orioles games. The stadium authority, for its part, receives an amusement tax in the form of 8% of ticket sales and Baltimore receives 2% of ticket sales.
Concerned that the Orioles might host fewer special events if the authority took in a portion of the revenue, the authority often has agreed to allow the club to keep all revenues.
“I would also suggest that 8% of something is better than 100% of nothing,” Frenz told the board.
The authority previously came to similar agreements with the Ravens — agreeing to cede some special event revenue to the football team in an effort to incentivize concerts, soccer games, etc. — but last year the National Football League team and the authority agreed to a new lease. In it, the Ravens are permitted to keep all revenue from special events (and the authority retains amusement tax revenue), just as the authority and Orioles have agreed to for the Savannah Bananas game.
It’s unknown how much the Orioles and authority will earn from the Bananas games, but at other stops, the Bananas, a Harlem Globetrotters-esque team that plays baseball exhibitions rife with gimmicks, comedy and wacky rules, have sold out MLB stadiums, generating millions in revenue.
Entry to Bananas games starts at $35; the ticket lottery for next year’s game is now closed, but fans can join a “ticket interest list” to learn how to buy tickets in the future.
Many stadium authority votes are approved without extensive discussion, but the decision to allow the Orioles to keep the revenues from the Bananas game — as well as from an “Upper Deck Golf” event this past June that welcomed golfers to play nine holes inside the stadium — was met with voiced support.
“If we don’t waive this, the chances of them doing this event goes away,” said Bill Cole, one of 11 members of the authority board. “Having this place active on non-baseball days is huge, so I think it makes perfect sense.”
Fellow board member Joe Bryce noted that bringing more events to the Camden Yards area was a key part of recent lease negotiations and that he applauded the Orioles for hosting such events. Board Chair Craig Thompson said: “I think it’s almost a no-brainer.”
The Orioles and the state have no agreement regarding how many non-MLB events the team is expected to host at the state-owned ballpark, but the authority has sought to increase the number of special events at the complex. In this case, and in others, the authority could financially participate, but Frenz said the concern is that the Orioles would host less often.
“We could say, well, gee, we want in, at this point, and we would get some share of that event’s revenue, but, again, we’re thinking long-term,” he said.
For decades, Oriole Park never hosted special events and the club’s longtime owner, the late Peter Angelos, was not supportive of concerts at the ballpark — “he wasn’t fond of rock ‘n’ roll and he wasn’t shy about saying it,” Frenz said in an interview Tuesday.
But his son, John, who recently served as the team’s decision-maker, encouraged concerts at the venue, with the first one, a Billy Joel show, taking place in 2019.
A group led by billionaire David Rubenstein purchased the Orioles from the Angelos family earlier this year. Asked if the Orioles might host a concert next year, in addition to the Bananas games, an Orioles spokesperson simply said in a statement the team would “explore” options.
“We will work in collaboration with the Maryland Stadium Authority and other partners to explore opportunities for concerts and other events next year and in the future to encourage downtown visitation and create unique experiences beyond baseball at Camden Yards,” the spokesperson said.
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