(a) Subject to the prior approval of the Board of Public Works, the Authority may: (1) hold an ownership interest in or operate a professional football or major league professional baseball team or team franchise for up to 2 years during a transition to private ownership; and (2) continue to hold, but not operate, an ownership interest in a professional football or major league professional baseball team during a transition of the team without a time limitation. (b) If necessary, the Board of Public Works may renew its approval under subsection (a) of this section each year.