To help pay for some costly renovations slated for M&T Bank Stadium, the Baltimore Ravens are raising the price tag on tickets for the first time since 2013.
Ravens season ticket holders recently received a letter from the franchise notifying them they should expect an increase of somewhere between 4.7 and 10.3 percent, depending on the seats, according to BaltimoreRavens.com. That change will generate an estimated 8-percent boost in ticket revenues.
The price increase will help pay for a swath of renovations scheduled for the stadium over the next three seasons, including four skyline-altering lights, escalators, elevators, upgraded video boards, suites, concessions and even improved kitchens.
The franchise officially announced the planned improvements yesterday. The Maryland Stadium Authority will cover $24 million worth of renovations, while the Ravens will pay the remaining $120 million.
To further their case, the Ravens noted on their website that they ranked in the bottom half of the league for ticket prices last season and have only raised ticket prices once in the last eight years.
Baker Koppelman, the Ravens’ vice president of ticket sales and operations, thanked season ticket holders for their support in the letter.
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