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BALTIMORE — The Angelos family has agreed to sell the Baltimore Orioles to a pair of billionaires, according to WJZ’s media partner The Baltimore Banner.
The sale agreement was initially reported by John Ourand from Puck News. He reported that the Orioles will be bought for $1.725 billion by billionaires David Rubenstein and Mike Arougheti.
Baltimore Banner sports reporter Andy Kostka said on X, the social media site formally known as Twitter, that the group of billionaires included “Maryland leaders, philanthropists and sports legends.”
It even includes the Mid-Atlantic Sports Network, which broadcasts games of both the Orioles and Washington Nationals, according to the Baltimore Banner.
Orioles legend Cal Ripken Jr. is part of that group, too, according to the Baltimore Banner.
Ripken, who retired from baseball in 2001 following a 20-year career, is in the Baseball Hall of Fame. He was a 19-time MLB All-star, two-time MVP, two-time Gold Glove winner and helped the Orioles to the 1983 World Series championship.
He owns Major League Baseball’s record for consecutive games played with 2,632.
Ripken grew up in Harford County and was drafted by the Orioles in 1978. He made his Orioles debut in 1981.
Baltimore Mayor Brandon Scott expressed excitement over the deal announcement.
In December, Bloomberg News reported that Rubenstein was among those interested in purchasing the Orioles from the Angelos family.
Rubenstein, 74, was born in Baltimore, and he has a net worth of $4.6 billion, according to the Bloomberg Billionaires Index.
Peter Angelos, 94, is the Orioles’ majority owner. His son, John Angelos, is running the day-to-day operations.
In December, a new long-term lease agreement was approved that would keep the Orioles at Camden Yards.
The Orioles are coming off a 101-win season, their best since 1980. They also made it to the playoffs, along with winning the American League East for the first time since 2014.
The team has a lot of young talent to showcase, led by Adley Rutschman, Gunnar Henderson, Jackson Holliday and Grayson Rodriguez.
Orioles fans have suggested that the new owners get to know the team’s supporters.
“The new owners, they need to get to know the fanbase a little bit,” Baltimore resident Austin Caufield said. “Come down to Pickles on opening day, see what it’s like.”
Caufield said he hopes the deal means that the Orioles won’t be going anywhere.
“What I’d like to say to the players is that we love you,” Baltimore resident Larry Wiczulis said. “We hope we can keep you as long as we possibly can, and I think with the new ownership and more money, more financial wherewithal, that we’ll be able to keep the players, keep the court here to build a dynasty here, and have multiple world championships in Baltimore.”
The Baltimore Banner reports that the timeline for the deal is still unknown and would need the approval of MLB owners who are expected to convene in Orlando next week.
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