The M&T Bank Stadium name is here to stay.
The Ravens and M&T Bank announced Wednesday a new 10-year, $60 million extension of their partnership, which includes naming rights of the stadium and a variety of community programs.
"Our partnership with M&T is based on shared values and produced impact on both companies and this community," Ravens Owner Steve Bisciotti said. "This new agreement is a natural extension of our strong relationship and mutual commitment to pursing excellence and strengthening this region. We look forward to continuing to work with M&T and helping those in need."
The initial partnership between the two organizations was a 15-year deal signed in 2003, and the new agreement extends through 2027.
Local initiatives are a vital aspect of the partnership, which includes a community program with a $600,000 investment from the Ravens and M&T Bank.
"M&T Bank's partnership with the Ravens isn't about a name on a building—it's about combining the strengths of our two teams to build a better, stronger Baltimore," President of M&T Bank Mark Czarnecki said.
The deal also includes business promotions, such as stadium branding and being the Ravens' official bank. M&T Bank will also continue offering the exclusive Ravens debit card.
The strategic partnership between the organizations is a new 10-year, $60 million extension.
A component of the partnership will be to establish a Judith P. Hoyer Early Child Care and Education Enhancement Center (Judy Center) that provides services for at-risk children and their families. The center will be located in the Cherry Hill section of Baltimore and organized through the Baltimore Community Foundation.
Combining their efforts to impact the Baltimore community has been an important aspect of the partnership between the Ravens and M&T Bank for the last 11 years.
Some of the other initiatives between the two organizations include:
M&T Bank Touchdown for Teachers
This program recognizes local teaches for outstanding work in the schools and communities. Each year five finalists are chosen for the honor, and this year's grand prize winner was music teacher Jasmine Blanks from Magnolia Middle School in Harford County. She received a $1,000 grant for* *her school and a classroom visit from the Ravens.
"The impact this program has for students is huge because it shows them that education is being affirmed in the broader community and that their teachers are being recognized by the Ravens and by M&T Bank," Blanks said.
M&T Bank Honor Rows
This program has recognized more than 8,000 young people for outstanding volunteer work since 2003. For each Ravens home game, 100 young people receive tickets, t-shirts, pre-game field passes and recognition on the RavensVision boards.
Ravens Foundation Partner
Since the inception of the partnership in 2003, a total of $1 million has been allocated from M&T Bank and the Ravens Foundation to support a variety of community groups.
