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2024 Baltimore Orioles: New Owner, New Hope


DCSaints_fan

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  • 2 weeks later...
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It looks like the Orioles sale is finally going to happen. I’ve had several plugged-in sources tell me that the team’s owner, John Angelos, has agreed to sell the franchise to a group led by two private equity billionaires: David Rubenstein, who started the Carlyle Group, hails from Baltimore, and has been tied to the deal for months; and Ares Management Corp. co-founder Mike Arougheti, who lives in New York. The extent of Arougheti’s involvement is unclear, but Rubenstein will become the “control person,” the term MLB uses for teams’ decision-makers. The deal values the club at $1.725 billion. 

 

As part of the deal, the group will start off owning about 40 percent of the club. The group will buy Angelos’ remaining stake following the death of Peter Angelos, the family patriarch, who has been incapacitated for years by an illness. MLB owners will receive details of the sale at their annual meeting in Orlando next week. And while Rubenstein and Arougheti have reached an agreement with Angelos, there isn’t a timetable for the deal to close.

 

What’s not known, of course, is how this deal will impact the Mid-Atlantic Sports Network. The Orioles own about three-fourths of MASN, with the neighboring Washington Nationals owning the rest. MASN controls the local broadcasting rights for both the Orioles and the Nationals, but its complex structure has stalled attempts by both the Orioles and Nationals owners to sell their respective teams. But it shouldn’t be a surprise that these new owners, masters in the high art of financial structuring, overcame the blocker.

 

Edited by Cooked Crack
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Rubenstein stepped down as chairman of the Kennedy Center on Monday, agreeing to stay on until a successor is found to follow his 27-year reign, during which he donated $111 million to the national cultural arts center.

"I am 74 years old," Rubenstein said Monday, per the Washington Post, "an age which is too young to be president of the United States, but generally considered to be old enough for other things.”
 

This guy is great. 
 

https://www.usatoday.com/story/sports/mlb/orioles/2024/01/30/baltimore-orioles-sold-david-rubenstein-arougheti-angelos/72414024007/

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Peter Angelos did not want to pass the team to his kids. He wanted his wife to enjoy the money on the way out. 
 

Selling to a billionaire from Baltimore works for me and I hope this all goes through quickly. It may be the best thing John Angelos has done for the O’s in his life. 

 

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Congrats O's fans. I've long said my only real problem with the Orioles was the way Angelos did everything he could to hamstring DC and the Nats. With him gone, hopefully Manfred won't be as spineless as Selig (equally guilty in that MASN debacle) and fix that whole mess.

 

Good luck this year!

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9 minutes ago, Riggo#44 said:

Congrats O's fans. I've long said my only real problem with the Orioles was the way Angelos did everything he could to hamstring DC and the Nats. With him gone, hopefully Manfred won't be as spineless as Selig (equally guilty in that MASN debacle) and fix that whole mess.

 

Good luck this year!

Lose the zero and get with the hero 

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Great news. Peter Angelos was a piece of dog crap, and by all indications John Angelos is no better.

Honestly, as a fan, I'd rather have Snyder owning my team than the Angelos'. As evil as Dan is, he at least spent money on his club.

Maybe Gunner and Adley won't be Yankees in 5 years after all.

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48 minutes ago, capcrunch98 said:

 

Honestly, as a fan, I'd rather have Snyder owning my team than the Angelos'. As evil as Dan is, he at least spent money on his club.

 

 

I'll take a cheap owner over all things Snyder every single day. Snyder is a PoS person. 

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12 minutes ago, SloppyOneXXVI said:

Insane trade. Only 1 year left on his contract

 

 

Yes, it’s a rental, but it’s a CY Young winning TOR that helps turn a good rotation into a special one. Especially if Means can pitch well and we get second half Rodriguez again. 
 

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He's got 1 year deal left on his deal, he's a Boras client, and I still have to assume this is small-market Baltimore until new ownership proves otherwise.

So I'm looking at this as 1 year of Burns. I wouldn't say we didn't give up much - 2 top-100 prospects is nothing to sneeze at, even for a club with a stacked farm like the O's.

But we have a team on the verge of doing something special, we had to make a move for a TOR ace, and Burns is awesome. 

Happy about the trade.

Can't believe we're only 2 months from Opening Day!

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