BALTIMORE, May 21, 2014 /PRNewswire/ -- M&T Bank and the Baltimore Ravens announced a 10-year, $60 million extension of their partnership, which includes the continuation of naming rights to M&T Bank Stadium and an array of community-focused programs, including a new initiative focused on helping at-risk children in Baltimore.
The partnership, which began as a 15-year agreement in 2003 and is now extended through 2027, has proven to reach far beyond the stadium and into the community through a range of joint initiatives.
"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," said M&T Bank President Mark Czarnecki.
"Our partnership with M&T is based on shared values and produced impact on both companies and this community," said Ravens' owner Steve Bisciotti. "This new agreement is a natural extension of our strong relationship and mutual commitment to pursuing excellence and strengthening this region. We look forward to continuing to work with M&T and helping those in need."A new component of the partnership will be an initiative to establish a Judith P. Hoyer Early Child Care and Family Education Center (Judy Center), which provides comprehensive services to increase school readiness for at-risk children under age five and their families. The Judy Center will be located at an elementary school in the Cherry Hill section of Baltimore City and is being organized through the Baltimore Community Foundation (BCF). The Ravens and M&T will provide a total of $600,000 in funding for the project. "We are thrilled that the Ravens and M&T are joining BCF in its goal to have 90 percent of Baltimore's children ready for school by 2017," said Tom Wilcox, president of the Baltimore Community Foundation. "M&T and the Ravens' financial commitment to our program will have a dramatic impact on these children and our school system, leveling the playing field for our children as they enter school." Other community initiatives include the following: