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The owner of the Baltimore team changes.
Major League Baseball's official website reported on Feb. 1 (Korea Standard Time) that the Angelos family, the owner of the Baltimore Orioles, agreed to sell the team. An agreement was reached a day after the team was announced to sell the team.
David Rubenstein of the Carlisle Group, led by Michael Aroetty, Mitchell Goldstein, and Michael Smith, formed the group to take over the Baltimore team. Baltimore legend Carl Ripken Jr., former Baltimore Mayor Kurt Schmock, and former NBA star Grant Hill also joined the investment group. Rubenstein, who holds the largest stake, becomes the club's decision maker.
The sale amounts to approximately $1.725 billion. MLB.com reports that the Angelos will remain a big investor in the club, with John Angelos, the club's current CEO, also serving as the club's senior adviser.
The current owner, Peter Angelos, bought the Baltimore team in 1993 for about $173 million. And about 30 years later, the club was sold for 10 times the price.
In Baltimore, after Angelos, the owner of his 90s, recently retired from team management and battled, the owner's sons John and Luis Angelos and his wife Georgia Angelos fought in court over the owner's property.
An agreement has been reached on the sale of the club, but there is still a process left. The acquisition of the club will be officially completed only with the approval of the club, including the secretariat.
Baltimore, meanwhile, won 101 games last year, the most wins in a season since 1979.
Thursday, February 1, 2024