The Baltimore Orioles officially have new owners, as billionaires David Rubenstein and Mike Arougheti led a group to buy the team from John Angelos. While the two will serve as the primary owners for the new group, many famous names joined in as minority investors in the offer.
Cal Ripken Jr., the Hall of Fame shortstop and arguably greatest player in Orioles history, headlines the names of new minority owners. Ripken spent his entire 21-year career in Baltimore, winning two MVPs, making 19 All-Star games and breaking the consecutive games-played record.
Also included in the group are NBA Hall-of-Famer Grant Hill, former New York City mayor Michael Bloomberg, former Baltimore mayor Kurt Schmoke, and entrepreneur and philanthropist Michelle Kang.
NEWS: The Baltimore Orioles are being sold to a group led by billionaire David Rubenstein for $1.725 billion.
The investors include Orioles legend Cal Ripken, Jr., Mike Bloomberg and NBA Hall of Famer Grant Hill. pic.twitter.com/e6x4AmfCpW
— Matt Egan (@MattEganCNN) January 31, 2024
The Angelos family have owned the Orioles since 1993, but in recent years have dealt with uncertainty as the patriarch, Peter, deals with health issues. As part of the deal, Rubenstein and Arougheti will own 40% until Peter dies, at which they will purchase the rest of the team.
The Orioles are coming off a season where they won 101 games, their most wins since winning the same number of games in 1971. Baltimore enters the 2024 year as one of the favorites in the American League, with one of the best young cores in baseball.