The Baltimore Orioles of the American League were sold to private equity magnate David Rubenstein on Wednesday by a vote of all MLB owners.
An agreement was reached between the Angelos family and a company headed by Rubenstein to sell the Orioles for $1.725 billion in late January, and the process culminated in Wednesday's vote.
Cal Ripken Jr., a baseball Hall of Famer and former Oriole, Michael Bloomberg, a former mayor of New York City, and Grant Hill, a basketball Hall of Famer, are among the investors in Rubenstein's company.
"I am pleased to inform you that David Rubenstein has been approved by the Major League clubs to serve as the new control person of the Orioles," stated MLB Commissioner Robert Manfred.
David, who was born and raised in Baltimore and has been a die-hard Orioles supporter, is the perfect candidate to take the helm of the club going ahead. As the new franchise stewards, David and his partners are warmly welcomed.
Due to his father Peter's deteriorating health, John Angelos formally became the Major League Baseball control person for the Orioles in 2020. Peter passed away on Saturday at the age of 94. It was in 1993 when the elder Angelos spent $173 million to acquire the Orioles.
Manfred expressed MLB's gratitude to the Angelos family for their long history of devotion to the sport and the Baltimore community. "For over 30 years, Peter Angelos was an integral part of Major League Baseball, had a deep affection for Baltimore, and was a baseball nut at heart."
Last season, the 74-year-old Rubenstein presided over the Orioles, who won the AL East division but were eliminated in the AL Division Series by the eventual World Series champion Texas Rangers. Thursday, at home versus the Los Angeles Angels, will mark the beginning of Baltimore's 2024 Major League Baseball season.
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