In a significant development for Major League Baseball, the Baltimore Orioles are on the verge of being sold for $1.725 billion to a group of billionaires, including David Rubenstein and Mike Arougheti. This news, initially reported by John Ourand of Puck News and later confirmed by Baltimore Banner sports reporter Andy Kostka, has generated excitement among fans and the Baltimore community. The group is noted for its diverse composition, featuring Maryland leaders, philanthropists, sports legends, and Orioles Hall of Famer Cal Ripken Jr.
The acquisition marks a new chapter in the Orioles’ history, as the Angelos family prepares to pass on the torch after decades of ownership. Peter Angelos, the team’s majority owner, along with his son John Angelos, who currently oversees day-to-day operations, is set to transfer the team to new ownership. The deal, which includes the Mid-Atlantic Sports Network, is subject to approval by Major League Baseball owners, who will meet in Orlando next week.
The sale comes at a time when the Orioles are experiencing a resurgence, following a 101-win season, their best since 1980, and a playoff appearance. Fans are hopeful that the new ownership will bring stability and continued success, as expressed by Baltimore Mayor Brandon Scott and residents. The team, boasting a roster of young talents like Adley Rutschman and Gunnar Henderson, looks poised for a bright future under the new ownership.
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