'86 Chronology-Lease Agreement

Event Date: January 22nd, 1986

Event Description: Stars Sign Lease

Source: UPI

The U.S. Football League-champion Baltimore Stars, still without a coach a month before training camp, signed a lease Tuesday to play their home games at Memorial Stadium, city and team officials said.

The four-year lease also allows the USFL team to use the former Baltimore Colts' training facility in Owings Mills, said Jim Hart, president of the city parks board.

A provision in the lease allows the city to cancel the lease if it gets a National Football League franchise, Mayor William Schaefer said.

The agreement must be approved by the city Board of Estimates and the parks board.

The city will receive $400,000 from the Stars in each of the first three years of the agreement, Hart said. In the last year of the lease, the city would receive $400,000 and 1 percent of gross ticket sales over $8 million, he added.

City officials said the lease payments will cover the cost of operating the stadium during the exhibition and regular seasons.

Stars general manager Carl Peterson said he hopes the signing of a lease will solidify support for the team.

Peterson said the team hopes to increase the number of season ticket-holders because of the lease signing. The team lists 8,000 people who have paid a 50-percent deposit on season tickets.

Story-(UPI Modified)