The Baltimore Orioles haven’t done much this winter in the way of free agency, but they leapfrogged to the forefront of the baseball world this evening. Reports are surfacing that the family of Peter Angelos is selling 40% of their shares of the team to local billionaires David Rubenstein and Mike Arougheti. The reported sale is for $1.725 billion.
Reportedly, the aforementioned businessmen are purchasing a 40% stake in the team, and they’ll formally buy the remaining set of shares owned by the Angelos family upon the death of Peter Angelos. A timeline for the sale is unknown, although it’s expected to be discussed next month during owner’s meetings.
The other noteworthy part is that Orioles’ legend Cal Ripken Jr. is reportedly a part of the ownership group. Obviously he’ll take on the role of a minority owner, but assuming reports are true he’ll be involved. This shouldn’t be a tough sell to most fans.
It’ll be interesting to see how things shake down. Both with the timeline, as well as with the power structure. Furthermore, what will this mean for the product on the field? Tough to say. But we’ll find out as time goes on.
Birdland Crush 