Baltimore Orioles’ Angelos household agrees to $1.725 billion sale to David Rubenstein and Mike Arougheti led group

In a historic shift for the Baltimore Orioles, the Angelos household is reportedly promoting the MLB franchise to billionaires David Rubenstein and Mike Arougheti for $1.725 billion, marking the tip of a 31-year possession period.

Rubenstein, co-founder of the Carlyle Group, and Arougheti, co-founder of Ares Administration, are set to take management of the Orioles, pending approval from Main League Baseball.

The transfer is anticipated to carry an array of modifications, together with Rubenstein being the “management particular person” and Arougheti a big minority investor.

A broader possession group, doubtlessly that includes native Maryland figures and sports activities legends like Cal Ripken Jr., can also be a part of the restructuring.

The deal, structured to offer the brand new group a 40% stake initially, signifies a serious transition from the Angelos household’s longstanding management.

Peter Angelos, who bought the Orioles in 1993, has reportedly been incapacitated for years resulting from sickness.

The official particulars of the sale will likely be offered to MLB homeowners on the upcoming annual assembly.

Orioles poised to proceed latest success

This transformation in possession comes at a pivotal time for the Orioles, who, below common supervisor Mike Elias, have amassed a exceptional assortment of younger expertise, together with standouts like Adley Rutschman, Gunnar Henderson, Kyle Bradish, and Grayson Rodriguez.

The 2023 season noticed the Orioles clinching their first division title since 2014 with a exceptional 101-61 file.

Regardless of the workforce’s latest success and a burgeoning farm system, information of the sale has generated important curiosity in Baltimore.

The Orioles’ technique of successful with a younger and cost-effective workforce had raised issues amongst followers, particularly concerning the dedication to retaining key gamers.

The Angelos household, identified for its cautious spending strategy, has confronted criticism for its administration choices, together with the suspension of broadcaster Kevin Brown and disputes with the state of Maryland over Camden Yards.

The sale opens a brand new chapter, posing essential questions in regards to the dedication to future spending and the potential for retaining gifted gamers like Rutschman and Henderson.

Whereas Rubenstein’s Baltimore roots present a glimmer of hope for elevated funding within the workforce, the challenges of balancing competitiveness with monetary prudence stay.

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