The Baltimore Ravens will spend $120 million over three years to upgrade M&T Bank Stadium, the team announced this morning.

The improvements will include new video boards, escalators and elevators to the upper deck, a new sound system and upgraded kitchen facilities.

The Maryland Stadium Authority has also agreed to contribute $24 million for general stadium upkeep bringing the project's total to $144 million.

The first phase of the project will be the new video boards, which will be ready in time for 2017 season.

The MSA will have the right to approve designs during the renovations, but will work with the Ravens, who will coordinate all contracting.

“Not only will these improvements keep the stadium fresh, but they will enrich our gameday experience by delivering added convenience, entertainment and excitement,” Ravens president Dick Cass said. “We constantly strive to create a ‘Wow’ factor for our fans.”

The stadium, which cost $220 million to build, opened in 1998.