Baltimore Orioles to Change Owners, Sold for $1.7 Billion

The owner of the Baltimore Orioles, a Major League Baseball team, will change.

Local media, including “The Athletic,” reported on the 31st that the Angelos family, which owns the Orioles, is seeking to sell the club.

They plan to sell the team to two billionaires. They include Karyl Group’s David Rubenstein and Ares Management Inc’s Mike Arugetti.

According to Forbes, Rubenstein has a net worth of $3.7 billion and Arugeti has $1.8 billion.

The sale amount is $1.725 billion (KRW 2.297 trillion).

The Angelos acquired the Orioles from Ellie Jacobs in 1993 for $173 million.

Citing “Puck News,” which first reported the news, The Athletic said Rubenstein takes 40% of the club’s stake.

Rubenstein will take over control of the club if Peter Angelos, now 94, dies.

A native of Baltimore, Rubenstein had previously shown interest in acquiring the Washington Commanders, an NFL team, and the Washington Nationals, a Major League team. He finally achieved his dream of becoming a professional team owner.

The Athletic said Angelos had wanted his family, including his wife Georgia, to sell the team if he died.

Their sale work is officially recognized only after approval from the Major League Baseball Secretariat and 29 batting teams.

The Orioles sold broadcasting rights contracts to the Mid-Atlantic Sports Network (MASN), which is currently owned by the Angelos family. MASN also holds broadcasting rights to the Washington Nationals, which shares the market with the Orioles. The two teams have been at odds for a long time over broadcasting rights.

The Athletic said it is not yet known what changes the club’s sale will bring to the situation.

He also added that it is still unclear what changes will be made to the Orioles’ budget management, including the total annual salary.

Baltimore ranked first in the American League East with 101 wins in the 2023 season. It had the most wins since 1979. 안전놀이터