The Baltimore Ravens announced a major renovation plan for M&T Bank Stadium is on the way, starting in 2024 and planned to be completed by the time the 2026 season rolls around, the franchise confirmed in a press conference held on Tuesday, Dec. 12.
Introducing the next evolution of M&T Bank Stadium:
— Baltimore Ravens (@Ravens) December 12, 2023
More: https://t.co/ltpm6BM96W pic.twitter.com/Ylt6IDPjkY
Ravens president Sashi Brown guaranteed his commitment to ensuring that the stadium remains a top-tier NFL and entertainment venue for years to come, which will supposedly boost M&T Bank Stadium's perception among NFL players after it was voted the 11th-best place to play in on a recent poll by The Athletic.
The renovation will impact every level of the stadium, including modifications to the exterior plazas as well as improvements throughout the facility. The project is scheduled to be executed in phases, starting in 2024, and expected to continue through 2026.
Ryan Mink of BaltimoreRavens.com wrote that the Ravens are "using a projected $430 million of the $600 million of state funds allotted for stadium improvements." According to Mink, the funds "came with the renewal of the Ravens' lease, which will keep them in M&T Bank Stadium through at least the 2037 season."
Addressing potential concerns from fans, Ravens President Sashi Brown, in a conversation with Mink, clarified that while ticket prices are expected to increase over time, this rise is not directly linked to the cost of the renovations but simply because of inflation, saying that they will increase as everything will.
The implication is that any future ticket price adjustments would be part of the normal course of business rather than a consequence of the stadium's refurbishment, so fans shouldn't worry about that particular thing when it comes to attending games at The New Bank.
While not confirmed, the venue may suffer from some decreased attendance in the next few years if certain sections of the stadium need to be closed for security reasons, thus reducing the maximum capacity for brief periods while the refurbishing takes place.