Shane Baz sat between Mike Elias and David Rubenstein atop the dais at Camden Yards to celebrate the latest contract extension the Orioles have sealed. Last year, it was Samuel Basallo. This time, it’s this newly acquired right-handed pitcher.

But as Rubenstein, the principal owner, spoke in support of Baz, he may as well have been advertising to a room full of Orioles players that they, too, could join him for a celebratory news conference in the future. When asked directly if the extensions for Basallo and Baz are just the start, Rubenstein leaned into the message.

“We are open for business,” Rubenstein said. “We have the resources necessary to do this with others who are interested in this. So, sure, we are open for business. But it has to make sense for the player and it has to make sense for the team, but we’re certainly all ears.”

That must have been an interesting comment to many in that room, even though left-hander Trevor Rogers made sure to say Saturday was all about Baz rather than his own uncertain contract situation.

Sitting on the aisle a few rows from the front was shortstop Gunnar Henderson. The Orioles are all ears, Rubenstein said, when it comes to contract discussions. Well, what about the 24-year-old star?

“Any time they want to come my way, I’m open ears,” Henderson said, before turning his attention from the hypothetical to the present. “But, also, my first priority right now is to win ballgames and do whatever I can to bring a championship to the Orioles.”

What the Orioles have done with Baz and Basallo — securing extensions that appear to be good value for the money — is a positive step. Not long ago, before the group led by Rubenstein and Michael Arougheti came into power, such deals would have been unheard of in these parts.

Elias, the president of baseball operations, said Baltimore is “turning into a place that players really want to be, and that’s hugely important for us and we want to keep that going.”

Of course, it’s one thing to sign extensions with Basallo and Baz. The former is a 21-year-old who had played a handful of major league games by the time the pact was sealed. The latter is a pitcher who missed 2023 due to injury and only now is growing into his potential.

The real splash, of course, would be to secure Henderson’s future. According to the New York Post, the Orioles approached Henderson last year about a possible extension. It didn’t materialize.

“We’re always looking for opportunities to line up with our guys, and a lot of this happens behind the scenes and it’s never talked about, and hopefully a deal comes together once in a while,” Elias said. “This was one of those instances, and we’re going to continue working on all fronts with all aspects of roster management. But I do think contract extensions are a big part of building a winning franchise.”

Some of the major considerations for Henderson’s agent, Scott Boras, when it comes to contract value can be summarized as the A.P.P. principle: age, power, position.

The first, of course, is how old a player is when the contract is being discussed — or, perhaps more importantly, how old the player will be when he hits free agency. The second is how much he can impact the lineup. And the third is which position the player plays.

In Henderson’s case, he ranks favorably in all three categories. He is 24 and he will be 27 in 2029, when he will be free to negotiate on the open market. There is no doubt Henderson elevates a lineup with his power and speed. And at shortstop Henderson plays a premium defensive position — and plays it well.

Consider this: When outfielder Juan Soto signed with the New York Mets for $765 million, Soto had only two of the three A.P.P. categories. He is still just 27 and he clubbed 43 home runs last year. But Soto plays right field, which isn’t a premium defensive position, and he isn’t going to be mistaken for a stellar fielder.

What might Henderson be worth, then, if he continues to prove all three?

That might be a dream-inducing number for Boras and a nightmare-inducing one for the Orioles.

For the moment, however, the Orioles can celebrate the gain that is Baz. The 26-year-old pitcher said it was a “no-brainer” to remain here through 2030. He has meshed immediately with the other players, and he has worked well with the coaching staff, including pitching coaches Drew French, Mitch Plassmeyer and Ryan Klimek.

“It’s such a good opportunity,” said Baz, whose contract is worth $68 million. “It’s such a great team. I think it was kind of a no-brainer for us, this being such a great spot.”

With Baz and Basallo on board, and with $155 million spent on first baseman Pete Alonso, Elias said the owners are “doing everything they can to elevate the franchise, so we’ve been bold in free agency and contracts, but also tremendous amount of infrastructure and investment … behind the scenes. It’s been really invigorating having that.”

Can this continue? The questions will remain. The big fish, so to speak, remain on the roster but are not tied down for the long term. Landing Henderson, Kyle Bradish and Rogers may well take an even larger number.

But, if there’s one thing those in the room can take heart in, it’s what they heard from Rubenstein.

“We hope it’s a sign to people we’re very serious about making this a long-term proposition for the ownership group and the team,” Rubenstein said. “We want to do as much as we can to make this team a championship team and make Baltimore proud of the team we’ve put on the field.”