Latest agreement includes stadium naming rights, continued focus on community engagement
BALTIMORE, April 20, 2023 /PRNewswire/ -- The Baltimore Ravens will continue to play their home games at "The Bank" through the 2037 season.
M&T Bank (NYSE: MTB) and the Ravens have reached an agreement to extend their strategic partnership for another 10 years beyond the current contract, which was set to expire after the 2027 season. The announcement comes almost 20 years to the day after the organizations entered a partnership that has always been about more than putting the bank's name on the 71,000-seat M&T Bank Stadium – often referred to simply as "The Bank."
Since first announcing their partnership on May 6, 2003, M&T and the Ravens have worked together with numerous business, community and elected leaders to strengthen communities throughout the Baltimore region. That commitment will continue as part of the organizations' partnership extension and include additional investments in providing financial education programs to Greater Baltimore students each year.
The contract extension also preserves one of the longest-running stadium naming rights deals in the National Football League (NFL). Only Raymond James Stadium (Tampa Bay Buccaneers), FedExField (Washington Commanders), Ford Field (Detroit Lions) and Gillette Stadium (New England Patriots) have maintained their relationships longer than M&T Bank and the Baltimore Ravens.
Financial terms of the latest agreement were not disclosed.
"The partnership between M&T and the Ravens has worked so well for so long because the organizations share similar values of integrity, determination, work ethic and teamwork and a common mission to make Baltimore better. That's also why it made sense from M&T's perspective to extend our partnership with the Ravens through the 2037 season," said Augie Chiasera, M&T Bank's regional president for Greater Baltimore. "We take a lot of pride in seeing the M&T Bank name on our football team's stadium. It's a symbol of our commitment to serve the Baltimore community."
This marks the second time M&T and the Ravens have extended their partnership, which began as a 15-year agreement in 2003. The two sides also announced in May 2014 a 10-year extension that took the partnership through the 2027 NFL season. With five more seasons remaining on that contract, the latest agreement extends the partnership through 2037.
"When I first met [M&T board member] Bob Sadler in 2003, it quickly became apparent that M&T Bank is a special organization and that we could be tremendous partners," Ravens owner Steve Bisciotti said. "From that moment, I knew we were aligned in the objective to serve our community, and it was clear that this wouldn't be a short-term partnership. Their commitment is so much deeper than the name on a stadium. They have impacted countless individuals and organizations with exceptional compassion, and I couldn't be happier with our relationship. We take great pride in our collaboration with M&T Bank, because our efforts are built on mutual respect and a meaningful connection to the community."
Ravens president Sashi Brown added: "We are thrilled and honored to extend our longstanding partnership with M&T Bank, our great teammates in serving Baltimore. M&T has grown into one of the top banks in the nation and established itself as a leader in community impact work. We share M&T's commitment to pursuing excellence and community impact, and that alignment has allowed our partnership to flourish. The past two decades together are worth celebrating, and it brings us great excitement to know that the iconic moments at M&T Bank Stadium – 'The Bank' – will continue."
A Partnership Focused on More Than Football
When M&T and the Ravens began their partnership 20 years ago, they pledged to combine the strength of the two organizations to improve communities throughout the Baltimore area. M&T and the Ravens have delivered on those promises – and many more.
As a partner of the Ravens Foundation Inc. since 2003, M&T Bank has contributed more than $1 million, which has been allocated to a range of community initiatives during the past 20 years. The Ravens Foundation is the team's charitable arm committed to encouraging and enabling the healthy development of youth in Baltimore and other parts of Maryland. Recent foundation projects include the installation of new educational spaces at Baltimore City's Franklin Square Elementary/Middle School and a Ravens-themed playground at Northwest Regional Park in Owings Mills, Md. In July 2022, the foundation distributed $100,000 in grants to help several nonprofit organizations fund a variety of projects, including interscholastic athletic programs for students with disabilities, cooking and nutrition education, boxing training and after-school mentorship programs.
Employees of M&T Bank and the Ravens also have rolled up their sleeves together to volunteer in communities throughout Baltimore during the past two decades. Those projects have included neighborhood landscaping and beautification, stream clean-ups, food drives, school supply distribution, playground construction and more. In 2019, M&T and the Ravens partnered with the Boys & Girls Clubs of Baltimore to renovate the Webster Kendrick Club at Callaway Elementary School in Baltimore. In 2022, more than 100 volunteers from M&T and the Ravens picked thousands of pounds of potatoes at First Fruits Farm in Baltimore County for distribution to food banks and pantries throughout Central Maryland and parts of Pennsylvania and Virginia. More than 100 employees from both organizations also have participated in Earth Day clean-up activities over the past two years, including the most recent project at Greenmount West Community Center in Baltimore on April 18.
"Our partnership with the Baltimore Ravens is not simply about name recognition," said Francesco Lagutaine, M&T Bank's chief marketing officer. "It's about connecting with the Baltimore community in meaningful ways that improve the lives of our neighbors."
For more information about M&T Bank's partnership with the Baltimore Ravens, visit M&T's website and new Instagram account @mtb_ravens.
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the northeastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank. For more information about M&T Bank, visit www.mtb.com.
About the Baltimore Ravens
The Baltimore Ravens are one of six NFL franchises to win multiple Super Bowls since the turn of the century. Under head coach John Harbaugh, who arrived in 2008, Baltimore has posted the NFL's fourth-most total victories (158), won the league's third-most playoff games (11, tied), advanced to an impressive three AFC Championship contests, and in 2012, captured the World Championship in Super Bowl XLVII. The Ravens, who also won Super Bowl XXXV during the 2000 campaign, have made the playoffs in 10 of the past 15 seasons – producing four AFC North Division titles during this time (2011, 2012, 2018 & 2019).
Media Contacts:
Scott Graham
Senior Public Relations Manager, M&T Bank
(410) 409-4803
sgraham1@mtb.com
Chad Steele
Senior Vice President of Communications, Baltimore Ravens
410-701-4152
Chad.steele@ravens.nfl.net
© 2023 M&T Bank. Member FDIC. NMLS# 381076 Equal Housing Lender.
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SOURCE M&T Bank Corporation
