The Ravens have been one of the more successful franchises since their inception, despite their early struggles in the late 1990s, compiling a record of 233–183–1 (.560). The team is now owned by Steve Bisciotti and valued at $2.98 billion, making the Ravens the 33rd-most valuable sports franchise in the world. In return, he was allowed to take his own personnel and team to Baltimore, where such personnel would then form an expansion team. As part of a settlement between the league and the city of Cleveland, Modell was required to leave the Browns' history, team colors, and records in Cleveland for a replacement team and replacement personnel that would resume play in 1999. The Baltimore Ravens were established in 1996 after Art Modell, then owner of the Cleveland Browns, announced plans in 1995 to relocate the franchise from Cleveland, Ohio to Baltimore, Maryland. The team plays its home games at M&T Bank Stadium and is headquartered in Owings Mills, Maryland. The Ravens compete in the National Football League (NFL) as a member club of the American Football Conference (AFC) North division. The Baltimore Ravens are a professional American football team based in Baltimore.
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