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The Baltimore Orioles Under New Ownership
Major League Baseball has officially approved the sale of the Baltimore Orioles to a new ownership group led by David Rubenstein. This decision was reached unanimously and marks a significant transition for the team.
A New Era Begins
David Rubenstein, the co-founder of Carlyle Group Inc., finalized an agreement earlier this year to acquire the Orioles for $1.725 billion. Notable figures such as Cal Ripken Jr. and Grant Hill are part of the investor group alongside Rubenstein. This move follows the passing of the team’s previous principal owner, Peter Angelos, on March 23.
Recognizing Legacy
Commissioner Rob Manfred expressed gratitude towards the Angelos family for their longstanding dedication to both the sport and the city of Baltimore. Peter Angelos, in particular, is remembered as a significant figure in Major League Baseball for over three decades. The commissioner also commended David Rubenstein on his approval as the new control person for the Orioles, citing his Baltimore roots and passion for the team as valuable assets for the future.
The Angelos family had overseen the Orioles since 1993, when Peter Angelos initially acquired the team for $173 million. John Angelos, the son of Peter, currently serves as the team’s chairman.
This change in ownership signals a new chapter for the Baltimore Orioles, as David Rubenstein and his associates step into their roles as stewards of the franchise. With a blend of legacy and fresh leadership, the team looks ahead to a promising future under new ownership.
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