With the Baltimore Orioles franchise in an upward swing, it seems the CEO John Angelos does not want to relinquish his control of the team despite it being his father’s wish upon his death.
After five straight losing seasons, including three years with over 100 losses, the process has finally worked and the Baltimore Orioles are relevant again. They stunned the baseball world in 2022 by finally making the jump to being a competitive team once again. Then in 2023, they evolved into a full-fledged contender.
Heading into 2024, Baltimore has a team built to be good for years to come and has the cap flexibility and assets to further improve the roster. All the work that the Angelos family put into bringing the franchise back to relevancy has finally paid off. And with their brand as strong as it has been in a long time it could be a perfect moment to sell.
It is something that has been rumored in MLB circles recently, and billionaire David Rubenstein is a potential buyer. Furthermore, a sale is reportedly something that owner Peter Angelos wants to happen after he passes away. That could come soon with the 94-year-old battling health issues in recent years.
John Angelos does not want to sell the Baltimore Orioles
However, it seems that his eldest son John — the organization’s chairman and CEO — has no interest in letting the franchise slip out of the family’s control. On Wednesday, the Wall Street Journal reported that a battle over the future of the Baltimore Orioles could be brewing inside the Angelos family.
“John Angelos has indicated privately that he intends to keep the club moving forward, potentially throwing the future of the franchise into turmoil,” the Wall Street Journal claims.
The Orioles are currently valued at $1.7 billion. With the value of owning a sports team in North America on a heavy upward swing, that number could certainly increase if Baltimore has another strong season in 2024. It was recently reported that Carlyle Group Inc. co-founder and Baltimore native David Rubenstein is currently in talks to purchase the team.
However, it’s believed that John Angelos has informed Maryland officials the franchise is not for sale.