Baltimore Orioles to be sold to David Rubenstein-led group: Report

John Angelos and the owning family of the Baltimore Orioles have purportedly reached an agreement to sell the team to a group led by billionaire David Rubenstein.

The price of the deal is approximated to be close to $1.725 billion, and Rubenstein, himself a Baltimore native, will serve as the new controlling owner, according to a report.

Assisting the Carlyle Group Inc. co-founder in securing the deal will be Ares co-founder Michael Arougheti.

In 1993, Angelos family bought the Baltimore Orioles for $173 million.

Today, the team reportedly sold for $1.725 billion to a pair of private equity billionaires, per @Ourand_Puck.

Quite the investment.

— FOX Sports: MLB (@MLBONFOX) January 31, 2024

The deal will not be finalized until the MLB approves it,
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