They are free! They are free! The Baltimore Orioles are free!
Manager John P. Angelos is selling the storied Baltimore Orioles franchise to two private equity billionaires, Mike Arrogetti and David Rubenstein, in a shocking deal, according to a report Tuesday. That's what it means. ESPN.
The sale reportedly values the Orioles at $1.725 billion. (Related: All-Star Jorge Polanco traded from Twins to Mariners in blockbuster five-player deal)
Rubenstein, a Baltimore native, has long been interested in purchasing the Washington Nationals. He and Mr. Arrogeti, who is based in New York, founded private equity firms The Carlyle Group and Ares Management Corp., respectively.
The sale still requires approval from Major League Baseball. The owners are scheduled to meet next week in Orlando, Florida.
John P. Angelos has been running the ball club as president and managing partner since 2020, as his father, Peter, suffers from dementia.
News: Sold by the Angelos family @Orioles In a group led by two private equity billionaires:
➡️David Rubenstein, founder of the Carlyle Group
➡️Mike Arougheti, Co-Founder, Ares Management CorpRubenstein will be the “control person” and will be highly valued by the team in this deal… pic.twitter.com/sANYE8yOWJ
— Sportico (@Sportico) January 30, 2024
And this deal is even cooler:
Cal Ripken Jr. has become a part of the Orioles' new ownership group, according to . @afkostka pic.twitter.com/Pg0ZOj95LW
— Talkin Baseball (@TalkinBaseball_) January 31, 2024
And it could get even cooler.
Orioles leak new spring training cap? pic.twitter.com/u4r8On4Fgp
— Brian M (@briski715) January 31, 2024
Oh, I would love to see them bring that bird back (but also keep the comics on hand)… What a way to kick off freedom for both the Baltimore Orioles organization and fan base .
