Section 10-619 - Authority to acquire ownership interest in professional teams. - Maryland Statutes

§ 10-619. Authority to acquire ownership interest in professional teams.
 

(a)  General authority.- Subject to the prior approval of the Board of Public Works, the Authority may: 

(1) hold an ownership interest in or operate a professional football or major league professional baseball team or team franchise for up to 2 years during a transition to private ownership; and 

(2) continue to hold, but not operate, an ownership interest in a professional football or major league professional baseball team during a transition of the team without a time limitation. 

(b)  Board of Public Works - Renewable approval.- If necessary, the Board of Public Works may renew its approval under subsection (a) of this section each year. 
 

[FI § 13-710; 2008, ch. 306, § 2.]