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David Rubenstein has a deal to buy the Baltimore Orioles for $1.725 billion

Y2kTheNewOldies

Y2kTheNewOldies

apnews.com

David Rubenstein has a deal to buy the Baltimore Orioles for $1.725 billion, AP source says

A person with knowledge of the deal says Carlyle Group Inc. co-founder David Rubenstein has reached an agreement to buy the Baltimore Orioles for $1.725 billion.
apnews.com apnews.com


Carlyle Group Inc. co-founder David Rubenstein has reached an agreement to buy the Baltimore Orioles for $1.725 billion, according to a person with knowledge of the deal.

The person spoke to The Associated Press on condition of anonymity Tuesday night because the agreement had not been announced. Rubenstein, a Baltimore native, would take over as the team’s controlling owner, and he’s assembled an investment team that includes Ares co-founder Michael Arougheti.
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This looks to be a wonderful outcome for a franchise with a great history and ballpark. Angelos would have let all the young talent produced by the farm system over the past couple of years walk away, or even trade them early to prevent losing in arbitration. A super-wealthy owner with ties to the city should see to it that some of those stars are locked up long-term with generous multi-year deals. I'm a Red Sox fan and the O's are divisional rivals, but I have a fondness for any team that builds a contender from rock bottom with home-grown talent.
 
This is what you do when you have more money than you know what to do with. After you buy the big house, and a few more big houses, you buy a sports team in your hometown. That's what so many billionaires do. They do it for themselves and their legacy.
 
A key part of the story is that the owners have all been from Baltimore. Angelos was born there, and his partners included filmmaker Barry Levinson. Tom Clancy, and Pam Shriver, all born there. One of Rubenstein's partners is Orioles legend Cal Ripkin. The Angelos family wanted to keep the team in Baltimore, and selling it to another Baltimore native ensures the team remains in Baltimore.
 
TheBigA said:
Probably none. He usually attends spring training. I don't think he's ever been interested in actually running a team.

He got to watch his father get beat up when he managed.
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He's run a minor league team, the Aberdeen (Md.) Ironbirds. And his name is Ripken, with an "e." Sorry, it's one of those names hardly anyone gets right, and I had to catch and change it more times than I care to recall.
 
In terms of actual relevancy on the TV front, this might end the MASN/Nationals saga & could put the Nats in a better position in terms of broadcasting going forward.
 
1.75 Billion??? seems kinda low for a team that made the playoffs.
 
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