Angelos family agrees to sell Baltimore Orioles

Jan. 31 (UPI) -- Baltimore Orioles chairman John Angeles has agreed to sell the American League franchise for $1.752 billion.

Sources told the Baltimore Sun, The Athletic and 11 News Baltimore on Tuesday night that Angelos plans to sell the Orioles to team led by private equity billionaire David Rubenstein.

Rubenstein is expected to act as the controlling partner. Fellow billionaire Mike Arougheti and Orioles legend Cal Ripken Jr. are also expected to be part of the ownership group.

The deal must be approved by MLB owners to be finalized. Owners are scheduled to meet next week in Orlando, Fla.

Peter Angelos, who suffers from dementia, bought the Orioles for $173 million in 1993. His son, John, took over as chairman and managing partner in 2020.

The Orioles struggled to produce winning teams throughout the past several decades, but went 101-61 in 2023, marking their most wins in a season since 1979. They are led by a core of young players, including infielder Gunnar Henderson and catcher Adley Rutschman.

Infielder Jackson Holliday, the No. 1 prospect in baseball, also joined the Orioles as the No. 1 overall pick in the 2022 MLB Draft. He is expected to make his big-league debut this season.

MLB's purchase approval process typically lasts several months. Orioles pitchers and catchers will report Feb. 14 to their spring training facility in Sarasota, Fla.