What does David Rubenstein do? He knows what he wants and has been working hard to get the Orioles for “a very long time.”
A billionaire from Baltimore named David Rubenstein has agreed to buy the Baltimore Orioles from the Angelos family. The Orioles said on Wednesday that they will be bought for $1.725 billion.
“This connection to David Rubenstein, as well as his partners, validates that we have not only met yet exceeded our goals.” “Our collective goal is to bring the World Series Trophy return to the City of Baltimore,” said Rubenstein.
Michael Arougheti, an American billionaire, is part of Rubenstein’s investment group. Other members are Mitchell Goldstein, and Michael Smith, as well as Maryland leaders, philanthropists, and sports legends.
“I am grateful to the Angelos family for the opportunity to join the team of which I have been an admirer of my entire life,” said Rubenstein.
“I’m excited to work with the Orioles’ owners, players, and staff to make the team even better than it has been in recent years.”
I want the fans to know that we do this for them and couldn’t do it without them. Thank you for your help.”
The purchase still needs to be authorized by MLB owners, who will meet next week in Orlando. The vote needs to get 75% of the votes cast.
“When I took on the role of Chair as well as CEO of the Orioles, we had the objective of returning the franchise for elite status in major league sports, having the team in Baltimore over years to come, and reviving our partnership group,” John said.
The Orioles say that Cal Ripken Jr., past NBA star Grant Hill, ex-New York mayor Michael Bloomberg, and past Baltimore mayor Kurt Schmoke are all part of Rubenstein’s investment group.
Just like baseball games, David Rubenstein’s dream of owning the Orioles never had a set end date. “But the Angelos family didn’t want to sell for a long time.”
But Rubenstein, who went to Baltimore City College and played Little League baseball in Baltimore, had long told friends that he hoped one day to have the chance to buy his hometown team.
“That has been around to feed a very long time,” said Edward Mathias, a senior adviser at the Carlyle Group who has known Horowitz for more than 50 years.
At a meeting in Bethesda in 2018 put on by The Economic Club for Washington, D.C., then-Gov. Larry Hogan made people laugh when he told Rubenstein, “One idea, David. You might want to buy the Orioles.”
Three people who know about the deal said on Tuesday that the Angelos family agreed to sell the Orioles to a group led by 74-year-old Rubenstein for $1.725 billion. Fans will be interested in what kind of owner Rubenstein will be.
Two of the sources said that the group is made up of business leaders and philanthropists from Maryland. Cal Ripken Jr., an Orioles legend, is expected to be in it.
Major League Baseball has long urged Ripken Jr. to join an ownership group if the team were sold. MLB still has to agree to the deal.
Peter Angelos, the club’s owner and family patriarch, is 94 years old and has been getting worse for more than six years. He was known for his love of Baltimore but was criticized by the media and fans for micromanaging the club.
In the United States in the year 2024, it’s pretty darn cool to be ridiculously rich. People in power want to appoint you as an ambassador. TV producers want you to be the host of game shows.
Biographers praise you, but people who buy books at airport bookstores look at the artfully lit headshots on your covers and feel sad.
The main economic idea of one major political party is that you should get richer as quickly as possible. The opposing party also wants you to get richer, but they want it to happen more slowly.
There are a lot of people on social media and in opinion pieces who will defend your right to be a petty, self-centered, narcissistic, and generally badass jackass in public and in private.
They will also hold you up as an example and praise your stupid Six Sigma ability to play 4-D chess.