On Wednesday, Major League Baseball owners unanimously greenlit private equity tycoon David Rubenstein as the new proprietor of the Baltimore Orioles in the American League.
The approval came following a vote earlier in the day, marking the conclusive stage of a process initiated in late January. At that time, an agreement had been reached for the Angelos family to transfer ownership of the Orioles to a consortium led by Rubenstein, for a sum of $1.725 billion.
Rubenstein’s consortium boasts notable figures such as Orioles legend and Baseball Hall of Famer Cal Ripken Jr., former New York City Mayor Michael Bloomberg, and basketball Hall of Famer Grant Hill, alongside other investors.
John Angelos assumed the role of MLB’s control person for the Orioles in 2020, given the declining health of his father Peter, who passed away on Saturday at the age of 94. Peter Angelos had acquired the Orioles in 1993 for $173 million.
Now, the 74-year-old Rubenstein will take the reins of an Orioles team that clinched first place in the American League East division last season, only to be swept from the AL Division Series by the eventual World Series champions, the Texas Rangers.
Baltimore will commence their 2024 MLB season at home on Thursday, facing off against the Los Angeles Angels.
“I’m breathing again…MLB just unanimously approved the deal! @orioles, the Next Chapter has begun! Go O’s!” Rubenstein wrote on social media.
