||HEADLINE NEWS - News
Tuesday - 2/12/2002
The Baltimore Ravens partnership with PSINet Inc., the first and largest independent commercial internet service provider, will soon come to an end. As part of its contract with the Ravens, PSINet had its name on Baltimore's
football stadium. That signage will be removed sometime in the next two months.
"PSINet has been an outstanding partner with us, including the help they gave us in establishing and hosting our website. They have other issues they are addressing now, and we understand why the partnership must end," Ravens'
owner Art Modell said. David Modell, the Ravens' president, expects aggressive competition for the stadium naming rights. "We've already heard from other companies. Ideally, we'll find one like PSINet that can help us serve our fans in some better way, and provide funds to keep our team competitive at the highest level. We're excited about this marketing opportunity," David explained.
The Ravens and PSINet partnership started in January of 1999. Baltimore's home stadium has been called PSINet Stadium for the past three seasons (1999, 2000 and 2001). In 1998, the stadium was called "Baltimore's New Stadium at Camden Yards".
As part of the agreement ending the partnership, the Ravens will refund to PSINet part of their original lump sum payment that was based on a 20-year agreement. The agreement is subject to approval by the bankruptcy court.