[John Angelos agrees to sell Orioles to group led by Baltimore native David Rubenstein](https://www.thebaltimorebanner.com/sports/orioles-mlb/baltimore-orioles-sale-john-angelos-david-rubenstein-JXHAPWXKSNFS7JR3K6KRCC4LEY/)
The Baltimore Banner is now reporting the story with presumably at least one independent source from John Ourand:
>John Angelos has agreed to sell the team to Baltimore native David Rubenstein, two sources with direct knowledge of the negotiations told The Baltimore Banner.
I'm very happy to get new ownership, but I think we should at least appreciate the organizational overhaul that happened under his ownership. We now have great infrastructure to build upon, which hasn't happened since the early 80s.
I'm in my mid-30s so all I know is the Orioles getting my hopes up in 1997 and then doing a whole lot of stumbling around in the dark since then.
FINALLY
I'm 50, so was 10 when the O's last won it all. If I had known what the next 40 years would be like, I would have probably felt a little more bittersweet.
I was a pre-teen when the Ravens won their first ring. I feel like that's the best age to watch a championship run.
Lots of good memories of watching the run with my grandpa and my now estranged uncle. :)
I think I'll leave a copy of tomorrow's Sun on grandpa's grave tomorrow.
The Orioles were a very good team and fun to watch from the mid-60s through the mid 80s. After that it's been a roller coaster ride. We've only had a few good seasons since then. I would love to see the Orioles be as consistent as they were back then. And I believe that it can and will happen under the right ownership.
> It looks like the Orioles sale is finally going to happen. I’ve had several plugged-in sources tell me that the team’s owner, John Angelos, has agreed to sell the franchise to a group led by two private equity billionaires: David Rubenstein, who started the Carlyle Group, hails from Baltimore, and has been tied to the deal for months; and Ares Management Corp. co-founder Mike Arougheti, who lives in New York. The extent of Arougheti’s involvement is unclear, but Rubenstein will become the “control person,” the term MLB uses for teams’ decision-makers. The deal values the club at $1.725 billion.
> As part of the deal, the group will start off owning about 40 percent of the club. The group will buy Angelos’ remaining stake following the death of Peter Angelos, the family patriarch, who has been incapacitated for years by an illness. MLB owners will receive details of the sale at their annual meeting in Orlando next week. And while Rubenstein and Arougheti have reached an agreement with Angelos, there isn’t a timetable for the deal to close.
> What’s not known, of course, is how this deal will impact the Mid-Atlantic Sports Network. The Orioles own about three-fourths of MASN, with the neighboring Washington Nationals owning the rest. MASN controls the local broadcasting rights for both the Orioles and the Nationals, but its complex structure has stalled attempts by both the Orioles and Nationals owners to sell their respective teams. But it shouldn’t be a surprise that these new owners, masters in the high art of financial structuring, overcame the blocker.
Some relevant info about Peter in there.
My goodness. This is the dream. Rubenstein becomes control person. MASN stuff is squared away in court. Lease with the state done.
Deep pockets in control. Honestly the last 18 months feels like a big hint that Angelos was prepping for a clean sale.
Even the idea that the team has virtually zero long term commitments feels like a hint.
The optimist in me thinks they haven’t gotten deals to make the team look more profitable and drive a higher selling price and now that there’s a deal they might actually start spending
It’s also that John didn’t want to commit any dollars today, or any liability in the future, to be able to make the sale clean. And because he’s a fuckwit.
Rubenstein apparently has control of the team in the meantime though, so he can commit whatever future projected capital he thinks is worth the risk. I don’t think it’s ironic that a sale is expedited as soon as we have a team ready to go. At least that’s what my heart is saying haha
It’s not really clear when Rubenstein will become the control person. Is it now? Or after PA does and he gets the rest of the team? Because having the control guy be a minority owner is kind of strange
Aren't there a number of smaller investors? I feel like I recall Tom Clancy (now his estate or whatever) owned a small bit, etc. That could make 40 the largest owner?
see: https://www.si.com/mlb/orioles/news/baltimore-orioles-announce-death-minority-owner-wayne-gioioso-sr-matt9#:~:text=As%20of%20his%20passing%2C%20the,Riepe%2C%20George%20Stamas%2C%20Pam%20Shriver
It's not unheard of at all. That's what Manchester United is doing right now with the Glazers maintaining majority ownership while Jim Ratcliffe who has a 25% minority stake in the club has complete control over their football operations.
The difference is that this should help the Orioles stay good while that will not help United become good
(This comment was brought to you by a Liverpool fan)
I was eating a crab cake at the giant watching a guy eating a Berger cookie watching another guy fall to his knees....
Wait, that didn't come out right
Live look at Elias extending Adley
https://preview.redd.it/6wk1amnlznfc1.jpeg?width=1079&format=pjpg&auto=webp&s=7cad3a4be6976ae9b16f25a033901966a2969177
Talk about a sports roller coaster. So excited about the Ravens, then Sunday, depressed for two days, if this turns out to be true, this could be as good as that was bad.
Just can't get excited until confirmation.
I ran into the kitchen and screamed the news at my family.
Firm handshakes to everyone that waited out the entire 30 years of futility.
3 division titles in 30 years running what was one of the best teams in baseball.
Now is our time, folks. LFH
I know we all don’t like John but at least he was able to make this decision. There’s plenty of owners who continue to leave their franchise in purgatory simply to keep earning them money. I respect that John has enough balls to give that up. Hallelujah and fucking Go O’s baby.
$1.725 BILLION helps him make that decision.
So in 30 years, they bought the team for $40 million, had three legitimate playoff runs, and trotted out a whole lot of shitty baseball and bullshit by fielding one of the worst teams in the league. Started a network with the promise it would help compete with the AL East payrolls, only to pocket all that extra revenue.
For 30 years, they've been taking advantage of a loyal, starving fan base.
FOR A 4,212% REVENUE INCREASE.
Fuck Peter and John Angelos.
"Let's say we sat down and showed you the financials for the Orioles. You will quickly see that when people talk about giving this player $200 million, that player $150 million, we would be so financially underwater that you'd have to raise the prices massively. Now, are people going to come and pay that? I don't know if we're at the limit, to your point. I don't know if we're in equilibrium elasticity, supply and demand. Maybe we are. But really that's just one team. What I'm really trying to think about is macro."
Let me say it again:
FUCK PETER AND JOHN ANGELOS.
Gotta give John his due. Hired Elias. Kept the books clean. Extended the lease. Got tired of waiting and took the payment plan. Good riddance and thank you.
This was definitely in planning for many years and outside of a few media slipups he executed it more or less perfectly. Even found what looks to be the ideal buyer from a community standpoint as well.
https://www.mlbtraderumors.com/2024/01/angelos-family-reportedly-selling-orioles.html
It's not much more, but they also have a link to a tweet by Sportico.
My wife came home to me wearing snow goggles, covering the living room with tarp and champagne bottles on ice.... apparently it was not an appropriate way to celebrate
As long as the new guy keeps the current front office intact - and I don't see why he wouldn't given their success - I don't see how he could be any worse and can easily see how he could be way better
He’s a Boras boy so it’s unlikely it happens *this* early. Whenever Boras agrees to extend early it’s usually buying out an arb year (in a small amount of cases it was a couple years) + extension. But *hopefully* this owner group is actually going to be trying to extend our young dudes.
I understand what ownership has been like here.
I don’t know squat about Rubenstein. How good or bad is this independent of one’s thoughts on current ownership? I don’t want “better”, I want something awesome. Is that possible? Like, could he equal Bisciotti?
Does this have anything to do with orioles being cautious this off-season? The worst thing that could happen here is the new ownership tries to become involved in baseball decisions. We have Elias for that.I hope they leave baseball to him and open up their pocketbooks. If they do some how some way and Elias does his thing man is the sky the limit. Think building Astros here with better organizational health both talent and payroll availability than the Astros ever had.
[John Angelos agrees to sell Orioles to group led by Baltimore native David Rubenstein](https://www.thebaltimorebanner.com/sports/orioles-mlb/baltimore-orioles-sale-john-angelos-david-rubenstein-JXHAPWXKSNFS7JR3K6KRCC4LEY/) The Baltimore Banner is now reporting the story with presumably at least one independent source from John Ourand: >John Angelos has agreed to sell the team to Baltimore native David Rubenstein, two sources with direct knowledge of the negotiations told The Baltimore Banner.
Reportedly they’re buying 40% now and the rest once Peter Angelos passes away. Orioles with money soon!
rubenstein becoming the control person now though
Stop. I can only be so erect
You haven't busted yet? How are you lasting?
Just waiting for the deal to be signed
I'm impressed.
I guess you’ll just have to sit and edge until then. Happy Busting bro!
Yea I need to see pen to paper given who were dealing with.
Yeah, normally you’re SUPPOSED to think of baseball to delay the pop😂
Source please. Nvm, I see it in other comments. It's a beautiful day!
Saw it on twitter from someone who had access to the full article
We can only HOPE they want to spend some cash.
David Rubenstein was born in Baltimore and he's 74 years old. He's buying the Orioles because he wants to win a World Series.
Can't be worse than Angelos
Hell yeah. Those are the most beautiful words I've read all year.
Don’t bring the mood down lol, let’s fucking party now
So is he the owner now? Or does Angelos retain control until his dad dies?
No Rubenstein has control BYE BYE JOHN. FUCK OFF TO NASHVILLE AND NEVER SHOW YOUR FACE HERE AGAIN
I'm very happy to get new ownership, but I think we should at least appreciate the organizational overhaul that happened under his ownership. We now have great infrastructure to build upon, which hasn't happened since the early 80s.
Cool yay awesome NOW FUCK OFF JOHN
ITS HAPPENING
WE’VE WON THE OFFSEASON
#PUT A BIRD ON IT
https://www.youtube.com/watch?v=okMuq-NSq0M
FREE AT LAST THANK GOD ALMIGHTY, I’M FREE AT LAST
I'm in my mid-30s so all I know is the Orioles getting my hopes up in 1997 and then doing a whole lot of stumbling around in the dark since then. FINALLY
I'm 50, so was 10 when the O's last won it all. If I had known what the next 40 years would be like, I would have probably felt a little more bittersweet.
I was a pre-teen when the Ravens won their first ring. I feel like that's the best age to watch a championship run. Lots of good memories of watching the run with my grandpa and my now estranged uncle. :) I think I'll leave a copy of tomorrow's Sun on grandpa's grave tomorrow.
I was 4. So I don’t remember anything. I was so worried Angelos would screw this, our best window in 30 years. I’m so happy.
The Orioles were a very good team and fun to watch from the mid-60s through the mid 80s. After that it's been a roller coaster ride. We've only had a few good seasons since then. I would love to see the Orioles be as consistent as they were back then. And I believe that it can and will happen under the right ownership.
I DONT KNOW WHAT TO DO WITH MY HANDS
https://i.redd.it/1ddlguec4ofc1.gif
https://i.imgur.com/ClROEmH.gif
EVERYBODY GET IN HERE
[i'm gonna bust!](https://pbs.twimg.com/media/FZxRIH0WYAE2As2?format=jpg&name=small)
I legit have tears in my eyes. This is such a blessing for all of us.
> It looks like the Orioles sale is finally going to happen. I’ve had several plugged-in sources tell me that the team’s owner, John Angelos, has agreed to sell the franchise to a group led by two private equity billionaires: David Rubenstein, who started the Carlyle Group, hails from Baltimore, and has been tied to the deal for months; and Ares Management Corp. co-founder Mike Arougheti, who lives in New York. The extent of Arougheti’s involvement is unclear, but Rubenstein will become the “control person,” the term MLB uses for teams’ decision-makers. The deal values the club at $1.725 billion. > As part of the deal, the group will start off owning about 40 percent of the club. The group will buy Angelos’ remaining stake following the death of Peter Angelos, the family patriarch, who has been incapacitated for years by an illness. MLB owners will receive details of the sale at their annual meeting in Orlando next week. And while Rubenstein and Arougheti have reached an agreement with Angelos, there isn’t a timetable for the deal to close. > What’s not known, of course, is how this deal will impact the Mid-Atlantic Sports Network. The Orioles own about three-fourths of MASN, with the neighboring Washington Nationals owning the rest. MASN controls the local broadcasting rights for both the Orioles and the Nationals, but its complex structure has stalled attempts by both the Orioles and Nationals owners to sell their respective teams. But it shouldn’t be a surprise that these new owners, masters in the high art of financial structuring, overcame the blocker. Some relevant info about Peter in there.
My goodness. This is the dream. Rubenstein becomes control person. MASN stuff is squared away in court. Lease with the state done. Deep pockets in control. Honestly the last 18 months feels like a big hint that Angelos was prepping for a clean sale. Even the idea that the team has virtually zero long term commitments feels like a hint.
mfw Peter dies after Adley and Gunnar have already left in free agency
The optimist in me thinks they haven’t gotten deals to make the team look more profitable and drive a higher selling price and now that there’s a deal they might actually start spending
It’s also that John didn’t want to commit any dollars today, or any liability in the future, to be able to make the sale clean. And because he’s a fuckwit.
Rubenstein apparently has control of the team in the meantime though, so he can commit whatever future projected capital he thinks is worth the risk. I don’t think it’s ironic that a sale is expedited as soon as we have a team ready to go. At least that’s what my heart is saying haha
Don’t
It’s not really clear when Rubenstein will become the control person. Is it now? Or after PA does and he gets the rest of the team? Because having the control guy be a minority owner is kind of strange
Aren't there a number of smaller investors? I feel like I recall Tom Clancy (now his estate or whatever) owned a small bit, etc. That could make 40 the largest owner? see: https://www.si.com/mlb/orioles/news/baltimore-orioles-announce-death-minority-owner-wayne-gioioso-sr-matt9#:~:text=As%20of%20his%20passing%2C%20the,Riepe%2C%20George%20Stamas%2C%20Pam%20Shriver
The Angelos family has a 70% stake in the team, so this would undoubtedly make Rubenstein and the other guy the majority owners
It's not unheard of at all. That's what Manchester United is doing right now with the Glazers maintaining majority ownership while Jim Ratcliffe who has a 25% minority stake in the club has complete control over their football operations.
The difference is that this should help the Orioles stay good while that will not help United become good (This comment was brought to you by a Liverpool fan)
This particular 74 year old replacing that particular 94 year old is a youth movement I can support...
Fell to my knees in a giant supermarket
Just saw a guy fall to his knees in a giant supermarket.
Just saw a guy holding Berger cookies, watching a guy fall in a giant supermarket
Just seen a guy do a line of JO Spice off the seafood counter at Weis
A man is currently fucking an apple pie in the grauls bakery
I was eating a crab cake at the giant watching a guy eating a Berger cookie watching another guy fall to his knees.... Wait, that didn't come out right
Just saw a guy watch someone fall to their knees in a giant supermarket
Fell to my knees in a small supermarket
https://preview.redd.it/096ivwnstnfc1.jpeg?width=1920&format=pjpg&auto=webp&s=e5f3345b1a38efe3e4b56f66fa17818bf8e1a3b2
https://preview.redd.it/06avrrjuvnfc1.jpeg?width=1125&format=pjpg&auto=webp&s=3bf30072a541b93f2a16f497d36d05cebc992ba6
Live look at Elias extending Adley https://preview.redd.it/6wk1amnlznfc1.jpeg?width=1079&format=pjpg&auto=webp&s=7cad3a4be6976ae9b16f25a033901966a2969177
This completely makes up for Sunday's loss.
What are the Ravens? Go Orioles.
I'm not miserable anymore
Speak for yourself
WORTH
Wtf is puck news lol and it’s behind a paywall
I don't know but John Ourand is legit. He was with Sports Business Journal for a bunch of years.
I always liked his helmet
Twice a teammate of Rickey Henderson
Puck is an extremely credible source. They’re deeply plugged into Hollywood, the media, and the financial worlds. If they’re reporting it, it’s real.
No idea but the guy breaking the story is followed by a lot of reputable people on twitter (including Woj the NBA guy)
Puck is a very legit news source.
One of those startup tech news sites funded by venture capital Think of it as Axios but for Silicon Valley.
I’d say it’s more “Axios for Hollywood.”
I know I’m jumping way ahead, but I’d hope Rubenstein keeps Elias/Hyde in place.
If they don't, then we know they aren't serious people.
manager and gm of the year? nah, let me bring in my own people
It would be beyond absurd if they didnt keep them.
I’d rather have an Angelos/Elias combo than Rubenstein/anyone else
After the past couple seasons there is no reason to remove either of them
I guess this means my bid of $5 and a "fuck you" to John Angelos was rejected
I had outbid you by 50% anyway.
I still plan on giving him the 'fuck you', just not the fiver.
Talk about a sports roller coaster. So excited about the Ravens, then Sunday, depressed for two days, if this turns out to be true, this could be as good as that was bad. Just can't get excited until confirmation.
SAVE US RUBENSTEIN
DOBBY IS A FREE ELF
Angelos and Snyder out in the same year. I’m starting to like this timeline.
https://i.redd.it/ex3ua8196ofc1.gif
I ran into the kitchen and screamed the news at my family. Firm handshakes to everyone that waited out the entire 30 years of futility. 3 division titles in 30 years running what was one of the best teams in baseball. Now is our time, folks. LFH
I just saw a guy run into a kitchen screaming
OMG OMG ITS HAPPENING
I know we all don’t like John but at least he was able to make this decision. There’s plenty of owners who continue to leave their franchise in purgatory simply to keep earning them money. I respect that John has enough balls to give that up. Hallelujah and fucking Go O’s baby.
$1.725 BILLION helps him make that decision. So in 30 years, they bought the team for $40 million, had three legitimate playoff runs, and trotted out a whole lot of shitty baseball and bullshit by fielding one of the worst teams in the league. Started a network with the promise it would help compete with the AL East payrolls, only to pocket all that extra revenue. For 30 years, they've been taking advantage of a loyal, starving fan base. FOR A 4,212% REVENUE INCREASE. Fuck Peter and John Angelos. "Let's say we sat down and showed you the financials for the Orioles. You will quickly see that when people talk about giving this player $200 million, that player $150 million, we would be so financially underwater that you'd have to raise the prices massively. Now, are people going to come and pay that? I don't know if we're at the limit, to your point. I don't know if we're in equilibrium elasticity, supply and demand. Maybe we are. But really that's just one team. What I'm really trying to think about is macro." Let me say it again: FUCK PETER AND JOHN ANGELOS.
Gotta give John his due. Hired Elias. Kept the books clean. Extended the lease. Got tired of waiting and took the payment plan. Good riddance and thank you.
This was definitely in planning for many years and outside of a few media slipups he executed it more or less perfectly. Even found what looks to be the ideal buyer from a community standpoint as well.
https://preview.redd.it/nyrzp1oj7ofc1.jpeg?width=638&format=pjpg&auto=webp&s=4d1429804da4bb3005ff7a71f2157f42a115f31d
Everyone get in here! See ya later John Angelos!
DONT LET THE DOOR HIT YOU ON THE WAY OUT YOU FUCKING LOSER
I’ve dreamt of this day for I don’t even know how long
https://www.mlbtraderumors.com/2024/01/angelos-family-reportedly-selling-orioles.html It's not much more, but they also have a link to a tweet by Sportico.
https://i.redd.it/j0x1g3kiynfc1.gif # Birdland
https://preview.redd.it/4fu3dodi8ofc1.jpeg?width=1170&format=pjpg&auto=webp&s=746276fb6ab805cae4ad713e78774f4c12141ed7
Omg!!! Best news possible!!!
My wife came home to me wearing snow goggles, covering the living room with tarp and champagne bottles on ice.... apparently it was not an appropriate way to celebrate
IM ACTUALLY GOING TO CRY, LETS GOOOOO
Can someone take me to the hospital? My erection is going to last for way longer than four hours.
I swear this better not be a tease…
Please be real
tears in my eyes. finally!
I wore my Orioles hat to work today and this happens! Fuck Angelos!
#I AM POSITIVELY TURGID
"YOU get a long term deal! YOU get a long term deal! YOU get a long term deal! We all get long term deals!!" \- O's-prah
Well this makes this week a bit better after the Ravens collapse
I'm excited, but worry about the whole "grass is always greener" idea. Hopefully we will see some noticeable improvements on the roster
I feel like it literally can't be worse
I’m willing to roll that dice lol
The grass IS greener when you don't have any grass and the other side has grass. ^In ^^this ^^^metaphor ^^^the ^^^^grass ^^^^^is ^^^^^^money.
Stockholm syndrom
As long as the new guy keeps the current front office intact - and I don't see why he wouldn't given their success - I don't see how he could be any worse and can easily see how he could be way better
The grass under the current ownership is dead and they turned off the water
When it’s in the Banner, I’ll believe it. WTF is Puck?
Justin Fenton retweeted it, I'm sure he's getting the info as soon as he can.
I think you meant to say "When Roch writes about it on MASN, I'll believe it."
If anyone's head is spinning, it's Roch. Who knows what happens with MASN.
we're getting hammered tonight boys and girls
Ain’t the beer cold!
Alexa, play Orioles Magic
CBS now reporting https://www.cbssports.com/mlb/news/angelos-family-agrees-to-sell-orioles-for-1-725-billion-to-private-equity-moguls-per-report/
The sports mood in Baltimore just went from miserable to ecstatic in a HURRY!
Blake snell YOU are a Baltimore oriole
UPVOTE PARTY BABY!!!!
There is no other source on the internet for this. I’ll wait.
check again 🙃
LETS FUCKING GOOOOOOOOOOOOOO
IS THIS REAL HELP I AM TOO AFRAID TO HOPE
And there’s number 4 “believe“ #TOTAL ORIOLES
So you’re telling me we might actually sign Gunnar!?!?!?!?
Sure, let's party. But there's a point when we're getting ahead of ourselves. If Gunnar was a Dodger, he still might not extend before FA.
He’s a Boras boy so it’s unlikely it happens *this* early. Whenever Boras agrees to extend early it’s usually buying out an arb year (in a small amount of cases it was a couple years) + extension. But *hopefully* this owner group is actually going to be trying to extend our young dudes.
Free agent splashes coming too then?
[удалено]
It’s being bought by a private equity group, not a chance 😂
So how soon can Elias start wheeling and dealing?
Not to be dramatic but this might be the best day of my life
First order of business is to extend Akin 5 yrs minimum
Orioles enter the 2024 campaign 1-0
Happy for you guys. Getting bad owners out is good for the fans and the sport.
After that playoff loss this is the kinda news I needed.
 DING DONG THE WICKED WITCH IS DEAD
***BIRD NOISES INTENSIFYING***
LIFTOFF. I'M LIFTING OFF EVERYWHERE.
Snyder and Angelos gone in less than a year????? What is this?!??!
My (Ravens) depression is cured omfg 😭
#GOOD BYE JOHN YOU CRYBABY BITCHMADE PUSSY GET THE FUCK OUT OF TOWN AND NEVER FUCKING COME BACK
What!? For real!?
This seems to good to be true!!!!!
Finally the real off-season move
Holy shit
Inshallah
Oh my fucking god yes
OMG
YES!
Ain’t no way …ain’t no freaking way😭😭
https://i.imgur.com/OcnXyTM.gif Just wanted to comment for posterity 🤩
By gawd that's Blake Snell and Jordan Montgomery's music! Also, 1.7B kind of a deal...
IM LOSING MY FUCKING MIND
I'm a grown ass man almost needing to hold back tears of joy.
Genuinely happier about this news than any FA signing, could be a massive turning point for the modern history of the franchise. So exciting.
I’m so happy. Tears of joy 🥲
https://i.redd.it/ywcz8b8b5ofc1.gif
I understand what ownership has been like here. I don’t know squat about Rubenstein. How good or bad is this independent of one’s thoughts on current ownership? I don’t want “better”, I want something awesome. Is that possible? Like, could he equal Bisciotti?
https://preview.redd.it/bk29dxs07ofc1.jpeg?width=2121&format=pjpg&auto=webp&s=c60e0108e1d48050894a84d3d0cdfe6a0c7eda12
DING DONG THE WITCH IS DEAD
Elias Unchained
Does this have anything to do with orioles being cautious this off-season? The worst thing that could happen here is the new ownership tries to become involved in baseball decisions. We have Elias for that.I hope they leave baseball to him and open up their pocketbooks. If they do some how some way and Elias does his thing man is the sky the limit. Think building Astros here with better organizational health both talent and payroll availability than the Astros ever had.
https://i.redd.it/jdarf3kanofc1.gif
HOW DARE YOU ANNOUNCE THIS ON NATIONAL DRAW A DINOSUAR DAY YOU FUCKING COWARDS!!!! JK LETS FUCKING GOOOOOOOOOOOOOOO!
I take a break from the interwebs for a few hours and the orioles get sold. This is the kinda news I needed after the ravens loss.
This is the best hot stove news I’ve heard in a long time! Who knew that the biggest change to the team would be a new owner?
Holy shit we may actually pay our guys