BALTIMORE.- The acquisition of the Orioles de Baltimore by David Rubenstein was approved on Wednesday by the team owners of the MLBclearing the way for the Angeles family to complete the sale after three decades managing the professional baseball franchise.
The support of 75% of all owners was required, and MLB reported that the vote was unanimous. The announcement came one day before the start of the regular season, with the Orioles at home against the Los Angeles Angels. Rubenstein and his group of investors were to close the transaction on Wednesday.
The Angelos family took control of the Orioles since 1993, when Peter Angelos acquired the club for $173 million. Angelos’s health deteriorated in recent years — he died Saturday at age 94 — and his son John had been CEO.
Rubenstein’s group of investors, which includes Cal Ripken Jr. and Grant Hill, reached an agreement in January to buy the Orioles for an amount that was estimated at $1.725 million.
Rubenstein, a native of Baltimore, founded the Carlyle Group, a global investment firm, in 1987. He previously practiced law in Washington. From 1977 to 1981 he was a deputy domestic policy advisor in the administration of President Jimmy Carter.
The Orioles are coming off a season in which they achieved 101 wins. They won the American League East Division title, something they had not achieved since 2014.
Expectations have skyrocketed after acquiring ace right-hander Corbin Burnes in a trade with Milwaukee.
Promising years for the Orioles:
With young stars like Adley Rutschman and Gunnar Henderson — and prospect Jackson Holliday on the way — the future looks bright for a team that last won the World Series in 1983.
One aspect that generates discontent among fans is the club’s payroll, which has remained low.
After a winter in which spending was once again discreet, the question of whether Rubenstein will be more aggressive in free agency is latent.
Source: AP
