Major League Baseball owners unanimously approved the transfer of the Baltimore Orioles to a group led by David Rubenstein on Wednesday.
“I congratulate David Rubenstein on receiving approval from the Major League Clubs as the new control person of the Orioles,” MLB commissioner Rob Manfred said in a news release. “As a Baltimore native and a lifelong fan of the team, David is uniquely suited to lead the Orioles moving forward. We welcome David and his partners as the new stewards of the franchise.”
In January, the Angelos family announced its intent to sell the Orioles and related assets for a reported $1.725 billion. Rubenstein will serve as the controlling owner.
Rubenstein’s group is made up of fellow private equity billionaires and others, including Hall of Fame member and lifelong Oriole Cal Ripken Jr.
Peter Angelos, who bought the Orioles for $173 million in October 1993, died March 23. His son, John, took over the operation of the team as his father’s health declined.
“To own the Orioles is a great civic duty,” Rubenstein said, per MLB.com. “On behalf of my fellow owners, I want the Baltimore community and Orioles fans everywhere to know that we will work our hardest to deliver for you with professionalism, integrity, excellence, and a fierce desire to win games.
“I thank John Angelos and his family for all they have done to bring us to this point. John led a dramatic overhaul of the team’s management, roster, recruitment strategy, and farm system in recent years. Our job is to build on these accomplishments to advance a world-class professional sports agenda — with eyes on returning a World Series trophy to Baltimore.”
The Orioles, with a promising young roster, won an American League-best 101 games last season but were swept by the Texas Rangers in the ALDS.
The team’s first game under new ownership will be Thursday at home against the Los Angeles Angels.
–Field Level Media