Billionaire businessman David Rubenstein has been approved by Major League Baseball owners to purchase the Baltimore Orioles from the Angelos family. The approval came just before the start of the season, with Rubenstein expressing a commitment to serving the Baltimore community and delivering excellence both on and off the field. The sale marks the end of over three decades of ownership by the Angelos family, with Peter Angelos having purchased the team in 1993 for $173 million. Rubenstein’s investor group, which includes former athletes Cal Ripken Jr. and Grant Hill, reached an agreement in January to buy the team for an evaluation worth $1.725 billion.
John Angelos, son of Peter Angelos and current chairman, CEO, and control person of the Orioles, has been credited with leading a dramatic overhaul of the team’s management, roster, recruitment strategy, and farm system in recent years. Rubenstein expressed gratitude towards the Angelos family for their contributions and emphasized the importance of building on the accomplishments made under John’s leadership. With a strong team in place and high hopes for the season ahead, including the acquisition of ace right-hander Corbin Burnes and promising young prospects, the Orioles are poised for success under Rubenstein’s ownership.
Prior to the sale, the Orioles secured a long-term lease to stay at Camden Yards, ensuring that the team will continue to play in Baltimore for the foreseeable future. This was a significant development for the organization, signaling stability and commitment to the city. Rubenstein, a Baltimore native, brings a wealth of experience and a passion for the game to his new role as owner of the team. His background in business and philanthropy, along with his ties to the community, make him well-suited to lead the Orioles into a new era of competitiveness and success.
The sale of the Orioles comes at a time of transition for the franchise, following a successful 101-win season and their first AL East title since 2014. With a talented roster and promising prospects, the team is poised to make a run at bringing a World Series trophy back to Baltimore for the first time since 1983. Rubenstein’s ownership represents a new chapter in the Orioles’ history, and fans are eager to see how his leadership will shape the team’s future. The approval of the sale by MLB owners paves the way for Rubenstein and his group to take control of the franchise and continue the journey towards bringing championship glory back to Charm City.
