The Baltimore Ravens yesterday announced a 25-year agreement with a company to provide food, beverage and other concession services at the new football stadium due to open next year.
Fine Host Corp. of Greenwich, Conn., will manage all food service and novelty sales at the stadium, under construction adjacent to Oriole Park at Camden Yards.
Terms of the deal were not released, but the team said revenues under the contract should exceed $8 million a year.
Under its lease with the state, the team can choose a concessionaire -- subject to Maryland Stadium Authority approval -- and keeps all the revenue from National Football League events. The state and team split the revenues from concerts, soccer games and other events.
Fine Host provides concession services in the stadiums of the Miami Dolphins and Arizona Cardinals, as well as more than 700 other facilities in 38 states, from arenas to high schools.
The company has been growing rapidly through acquisitions and by signing new contracts. The company posted record sales of $102.8 million through the first six months of the year, more than twice the same period last year. Its profit during the period was $2.1 million.
"Fine Host understands the types of food service required to satisfy the unique demands of the professional football fan in Baltimore," Fine Host Senior Vice President Glenn Byron said in a written statement.
Concessions at Memorial Stadium will be provided again by Service America this season.
Pub Date: 8/19/97