Baltimore Orioles set to be sold for $1,750,000,000 to billionaires David Rubenstein & Mike Arougheti, per reports
The Baltimore Orioles ownership could be changing hands. After months of speculation, owner John Angelos has agreed to sell the team, while owners will be briefed on the details next week in Orlando. The deal has to be agreed upon by the remaining owners.
Angelos is selling the team to two private equity billionaires, David Rubenstein and Mike Arougheti. According to Puck News, the deal is valued at a whopping $1.725 billion.
Rubenstein will serve as the ownership group's decision-maker. However, it is unclear what Aroughetti's role will be.
Rubenstein is a Baltimore native and has been searching for a sports franchise after exploring bids for the Washington Commanders. He would certainly do his best to bring the best players to Baltimore.
The Baltimore Orioles have been under the township of the Angelos family for the last 31 years. Peter Angelos purchased the organization in 1993 for $173 million. As Peter got older and his health became an issue, his son, John, took over.
It has been a bit of a rough stretch for the O's under the leadership of the Angelos family. They have never advanced to the World Series in the time the family has been involved.
The deal still has to be voted upon and finalized by the league. Owners will be meeting next week in Florida for a quarterly meeting. Any sale approval would not come until after those meetings are finished.
The Baltimore Orioles future is looking bright for the new ownership group
The Baltimore Orioles are coming off one of the most impressive seasons their organization has seen. They finished the year in first place in the AL East with a record of 101-61 and making the postseason. Unfortunately, they were bested by the Texas Rangers in the ALDS.
Gunnar Henderson had a breakout season. Through 150 games, Henderson hit .255/.325/.489 with 28 home runs, 82 RBIs, and 10 stolen bases. It was good enough to be voted AL Rookie of the Year.
Henderson is expected to build upon his stellar 2023 season alongside some others. Adley Rutchman, Cedric Mullins, and Austin Hays are expected to have solid seasons as well.
This organization is in good hands, and the new ownership group could not ask for a better foundation. The team's loaded with prospects waiting to make a name for themselves.
Watch for the Orioles to come out swinging this season, and make a deeper run in the postseason.