Last week, the Baltimore Orioles officially revealed the final product of one of their highly anticipated renovations, along with a major sponsorship partner: Truist Club. The luxury club is just the latest of several renovations to Camden Yards, including the new massive scoreboard and the much-needed upgrade to the sound system.
This premium club comes with some undeniably valuable and interesting perks. Who could say no to complimentary parking, up close seats behind home plate, and a chance to take batting practice on the field? Some of the perks are definitely geared toward drawing in an exceptionally wealthy crowd, like an upgraded menu that, from the promo images, includes oysters and shrimp (two snacks not mentioned in Take Me Out To The Ballgame) and the opportunity to sit down with Orioles executives, potentially including CHRO Kate Skidmore (no relation to the author).
This premium club is the latest of several exciting stadium renovations
There have been some questions about how interested in/happy about this new club the average fan will be since the memberships are rumored to be very expensive, and single-game ticket prices, when available to non-members, will likely only be available to buy in bulk and cost somewhere from $500-$1,000 a pop. That's not exactly something that the average fan has in the budget for a Friday night outing with the kids.
Where most fans can expect to see the benefit of this luxury club is that, with the money from the partnership with Truist and from selling tickets behind home plate for a lot more than they used to, the Orioles should see an uptick in revenue in the coming seasons. With increased revenue, they can spend more on the team.
It may come across as naive to expect the owners to do something with the money they make from these renovations besides pocketing it, but there are a few reasons to believe that at least a chunk of the money the team gets for declaring that Truist is the official bank of the Baltimore Orioles will eventually make its way onto the field.
David Rubenstein has said several times that he wants the Orioles to be competitive and that he is willing to spend. He also went out of his way to say that he wants the Orioles to operate like a sound business and not spend more than they make. So it stands to reason that if Rubenstein wants to see higher year-over-year payroll, the Orioles need to see higher year-over-year revenues. How is this accomplished? By selling high-priced experiences at the ball park and getting a nice sponsor for those experiences to pitch in a few million.
Overall, it's good for Orioles fans that their new ownership group is trying to make the team more profitable by increasing revenue, as opposed to what the old ownership group was doing, which was trying to make the team more profitable by spending as little money on the team as possible and squeezing money out of the fews fans willing to show up no matter what.
If it doesn't work and the Orioles can't sell these fancy tickets, then eventually they'll have to sell them at a lower price, and maybe the average fan will get to enjoy this club after all.
