Baltimore Orioles Sold to Billionaire David Rubenstein for $1.725 Billion

In a significant development for Baltimore’s beloved baseball team, the Angelos family has agreed to sell the Baltimore Orioles to Baltimore native and billionaire David Rubenstein. The sale, announced on Wednesday, involves Rubenstein leading an investment group that includes notable figures such as Michael Arougheti, Cal Ripken Jr., Grant Hill, Michael Bloomberg, and others.

Here are the key details of the sale:

• Purchase Price: The Orioles will be acquired for $1.725 billion.
• Investment Group: Rubenstein’s investment group comprises a mix of Maryland leaders, philanthropists, and sports legends.
• Approval Process: The sale is subject to approval by MLB owners, with a vote expected to take place during the owners’ meeting in Orlando next week. Approval requires a 75% majority vote.

David Rubenstein expressed his commitment to bringing a World Series Trophy back to Baltimore, emphasizing his lifelong connection to the team and his excitement about the opportunity to contribute to its success. Rubenstein’s investment group also includes Orioles legend Cal Ripken Jr., who expressed enthusiasm for the ownership opportunity and pledged to support the organization.

The sale encompasses not only the Baltimore Orioles but also the Mid-Atlantic Sports Network (MASN), which broadcasts games of both the Orioles and the Washington Nationals. This comprehensive deal underscores Rubenstein’s investment in the future of Baltimore baseball and its impact on the local community.

In response to the announcement, Baltimore Mayor Brandon Scott expressed excitement, reflecting the sentiment of Orioles fans eager for positive developments for the team. Rubenstein’s acquisition marks a significant milestone for the Orioles, with hopes for continued success and the potential to build a dynasty in Baltimore.

The sale comes amid the Orioles’ recent achievements, including a 101-win season and a playoff appearance, signaling optimism for the team’s future under new ownership. Rubenstein’s strong ties to Baltimore, coupled with his successful track record in private equity, position him as a promising steward for the Orioles as they embark on a new chapter in their storied history.