The Baltimore Orioles will be sold for $1.725 million dollars

Since 1993 the Angelos family has been the owners of the Baltimore Orioles MLB franchise. But this is about to change, as the American League East Division team is close to changing owners.

The new owners will be David Rubenstein and Mike Arougheti, who have agreed to purchase the team for $1.725 million dollars, according to a report by John Ourand of Puck News. The transaction will become official once the remaining 29 Major League teams vote and approve the sale.

The report indicates that the businessmen will first take over 40% of the Baltimore franchise. And once Peter Angelos passes away, the rest of the shares will pass into the hands of the recent buyers.

According to the specialized site Sportico, the Maryland state team occupies the 18th position among the most valuable franchises in the Major Leagues and its current valuation is $1.6 billion; only $125 million less than what the transaction would close.

The Angelos family bought the Orioles in 1993 and at that time they spent just $173 million dollars. Now 31 years later the owners have profits of almost 1,000% compared to the price they paid at the time.

The new board will seek to give the Orioles a winning direction

David Rubenstein, one of the new owners and who will serve as principal owner of the franchise, had already tried to get involved in the sports world in the past. He first tried to buy the NFL’s Washington Commanders and a few years later the MLB’s Nationals.

The businessman is the president of Thee Carlyle Group, one of the most successful private investment firms in the world and will undoubtedly seek to turn the Orioles into a winning franchise, since the Maryland team has only reached the playoffs six times in the last 30 years.

In addition, with young pieces on the team, such as Gunnar Henderson and Adley Rutschman, coupled with the financial injection that may come, the Orioles are beginning to emerge as a team to take into account in the coming years, even in 2023 they have already struck a blow the table winning the American League East Division winning 101 games in the regular season.

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