The Orioles have been mediocre — or straight-up awful — throughout most of Angelos’ ownership.
The new owner, Rubenstein, is a Baltimore native and co-founder of The Carlyle Group, a Washington, DC-based private equity giant.
If the sale is approved, Rubenstein will become the controlling partner in the ownership group, the key decision-maker.
After the 94-year-old Angelos dies, the Rubenstein group will own all 100% of the club.
The Orioles’ $1.7 billion valuation is nearly triple what the team was worth in 2014, according to Forbes.
Persons:
Peter Angelos, David Rubenstein, Angelos, Hall, Cal Ripken, Jr, Rubenstein, Angelos ’, Michael Arougheti
Organizations:
CNN, Baltimore Orioles, Orioles, Major League Baseball, Baltimore, Hall of Famer, American League East, AL, The Carlyle Group, longtime Orioles, Ripken, Ares Management, Forbes, Milwaukee Brewers, Colorado Rockies
Locations:
Baltimore, Washington, DC