Report: Orioles’ $1.725B Sale to David Rubenstein’s Group Likely Official by April

Scott Polacek@@ScottPolacekFeatured Columnist IVFebruary 27, 2024

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The Baltimore Orioles may not be officially sold by Opening Day, but fans reportedly won’t have to wait much longer.

Evan Drellich of The Athletic cited someone familiar with the sales process who said it will likely become finalized by April and not long after the March 28 Opening Day game against the Los Angeles Angels.

“If we miss Opening Day, it’s not for lack of trying, but it should be shortly thereafter,” the person said.

David Rubenstein’s ownership group is purchasing the team from John Angelos, and Drellich reported “only procedural hurdles remain, rather than substantive issues.” The sale includes Angelos’ stake in the regional sports network MASN and is valued at $1.725 billion.

It was reported in January that Angelos decided to sell the Orioles, which was a significant development considering he has been the team’s majority owner since 1993.

While Baltimore is coming off an American League East crown in 2023, Angelos’ tenure has not included much success.

The team has been to the playoffs just six times in 31 years and has never advanced past the American League Championship Series. It hasn’t won the World Series since the 1983 campaign, which was before his ownership tenure.

A lack of spending has been a defining characteristic of Angelos’ time with the team, which is a contributing factor to the lack of success. Even in 2023 when Baltimore won the division, it was 29th of 30th in team payroll, per Spotrac.

It is 23rd for the upcoming season, which is well behind division rivals in the New York Yankees (first), Toronto Blue Jays (fifth) and Boston Red Sox (11th).

The Orioles likely won’t be atop those payroll rankings even with an ownership change, but moving more toward the middle of the pack could help them consistently compete in the AL East.