Deal coincides with new team ownership, refreshed corporate branding from T. Rowe Price
BALTIMORE, June 10, 2024 /PRNewswire/ -- The Baltimore Orioles and T. Rowe Price are thrilled to announce a marquee partnership that makes T. Rowe Price the exclusive investment and wealth management sponsor of the baseball club. The centerpiece of the deal is a T. Rowe Price-branded uniform patch that will adorn the sleeve of Orioles players' jerseys for all regular season and Postseason games, beginning tomorrow, June 11, when the Orioles will host the Atlanta Braves for an evening game at Oriole Park at Camden Yards.
The exclusive sponsorship coincides with new ownership of the Baltimore Orioles, led by Baltimore native and lifelong Orioles fan DAVID M. RUBENSTEIN and his partners at Charm City Sports Partners, LLC, and a new global initiative by T. Rowe Price to raise brand awareness highlighting its standing as one of the world's premier active asset managers.
"T. Rowe Price has called Baltimore home since our founding. We are deeply committed to the City — as is the Orioles organization," said ROB SHARPS, Chief Executive Officer and President of T. Rowe Price. "We are very excited to invest in our hometown team and our community, and we believe this partnership will help us attract more clients in the years to come."
"We are ecstatic to enter into this partnership with T. Rowe Price and welcome them as the first organization to associate their name and brand on our uniforms," said T.J. BRIGHTMAN, Orioles Senior Vice President and Chief Revenue Officer. "This partnership acknowledges the strong Baltimore Orioles brand, and we are elated to bring together two Baltimore institutions to positively impact our Birdland community."
In addition to the jersey patch, the sponsorship agreement includes several elements aimed at elevating T. Rowe Price's brand locally, nationally, and globally, including ballpark signage, media, and hospitality assets, as well as in-game activations, community programs, and a brand presence at the Orioles' spring training facility in Sarasota, Fla. The multiyear, community-driven partnership between the Baltimore Orioles and T. Rowe Price was supported by Elevate and Allied Sports.
"This marquee sponsorship with the Orioles is an important part of a comprehensive global brand strategy for T. Rowe Price and our active management capabilities," said THERESA McLAUGHLIN, Head of Global Marketing for T. Rowe Price. "It gives us a terrific platform through Major League Baseball to reach millions of fans nationally and internationally. Through our market research, we know our clients and prospects are highly engaged and watching. We're so excited to deepen our ties with the Orioles and bring this partnership to life. We can't wait to get started."
In late January, Rubenstein led a diverse investor group, which included MICHAEL AROUGHETI, MITCHELL GOLDSTEIN and MICHAEL SMITH, together, joint owners of Charm City Sports Partners, LLC; and other business executives, Maryland leaders, philanthropists, and sports legends, to acquire a control stake in the Orioles from the Angelos family. Major League Baseball and its owners approved the sale in late March.
"The future of the Baltimore Orioles and the City of Baltimore is bright," said Rubenstein. "We are delighted to welcome T. Rowe Price to Birdland at such an eventful time on and off the field. Our organizations share a dedication to hard work, innovation, professionalism, and integrity, and we have committed our long-term futures to this city. We look forward to a long, successful partnership as we work to bring the World Series trophy back to Baltimore."
"On behalf of the ownership group, I'd like to welcome the T. Rowe Price team to the Orioles family," added Arougheti. "We are confident that together we can achieve great things both on the field and in the greater Baltimore community."
The Orioles entered their 70th year in Baltimore in 2024 riding a wave of momentum. In 2023, the team won its 10th American League East Division Championship and its first since 2014. The Orioles won at least 100 games in 2023 for the sixth time in the team's history, and the first time since 1980. Off the field, Oriole Park at Camden Yards was recently voted as the best stadium in Major League Baseball according to USA Today's Readers' Choice Awards.
T. Rowe Price's Baltimore roots trace to 1937, when the firm was founded by Thomas Rowe Price, Jr. Respected as a global investment management organization, T. Rowe Price recognizes and shares with the Orioles a deep connection to the City of Baltimore and the well-being of the community. As one of the largest corporate philanthropies in Baltimore and Maryland, the T. Rowe Price Foundation has made community investments in Baltimore of more than $170 million. As part of its long-term commitment to Baltimore, T. Rowe Price will open new corporate headquarters at Harbor Point in late 2024.
Downloadable photos of the uniform patch are available via PhotoShelter, courtesy of the Baltimore Orioles (password: Media2024).
About the Baltimore Orioles
Since moving to Baltimore in 1954, the Orioles have become an institution in the city they call home. Over the past 70 years, the Baltimore Orioles have become one of the most storied franchises in all of Major League Baseball, winning three World Series Championships, 10 division titles—with the most recent coming in 2023—and calling The Ballpark That Forever Changed Baseball™ home. The Orioles are proud to give back to the community, focusing their year-round philanthropic efforts on two distinct pillars—Strengthening Our Community and Empowering Our Youth—while generating more than $10 billion in economic impact since 1992 and acting as a catalyst for tourism in the City of Baltimore and State of Maryland.
About T. Rowe Price
Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investments. T. Rowe Price manages $1.48 trillion in client assets as of April 30, 2024, and it serves millions of clients globally. News and other updates can be found on Facebook, Instagram, LinkedIn, X, YouTube, and troweprice.com/newsroom.
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SOURCE T. Rowe Price Group
Bill Benintende, 443-248-2424, bill.benintende@troweprice.com
