They’re free! They’re free! The Baltimore Orioles are free!
In a bombshell deal, John P. Angelos is selling the storied Baltimore Orioles franchise to two private equity billionaires Mike Arougheti and David Rubenstein, according to a Tuesday report from ESPN.
The sale reportedly has the Orioles valued at $1.725 billion. (RELATED: All-Star Jorge Polanco Gets Traded From Twins To Mariners In Blockbuster 5-Player Deal)
A native of Baltimore, Rubenstein had prior interest in purchasing the Washington Nationals. Both he and Arougheti, who is New York-based, founded the private equity firms, the Carlyle Group and Ares Management Corp., respectively.
The sale still needs to be approved by Major League Baseball. Owners will be meeting in Orlando, Florida next week.
As his father, Peter, suffers from dementia, John P. Angelos has been running the team since 2020 as the ball club’s chair and managing partner.
NEWS: The Angelos family is selling the @Orioles to a group led by two private equity billionaires:
➡️David Rubenstein, who started the Carlyle Group
➡️Mike Arougheti, Ares Management Corp co-founderRubenstein will become the “control person” and the deal values the team at… pic.twitter.com/sANYE8yOWJ
— Sportico (@Sportico) January 30, 2024
And this deal gets even cooler:
Cal Ripken Jr. is part of the new Orioles ownership group, per @afkostka pic.twitter.com/Pg0ZOj95LW
— Talkin’ Baseball (@TalkinBaseball_) January 31, 2024
And it could potentially get even cooler:
Orioles leak a new spring training cap? pic.twitter.com/u4r8On4Fgp
— Brian M (@briski715) January 31, 2024
Man, I’d love to see them bring back that bird (but keep the cartoon one around as well) … what a way that would be to kick off freedom for both the Baltimore Orioles organization and the fanbase.