Baltimore Orioles Sale: Cal Ripken Jr. set to be a part of club's new ownership following $1,750,000,000 takeover, per insider

In a groundbreaking move, the Baltimore Orioles are on the brink of a transformative ownership change.

A consortiou led by private equity tycoons David Rubenstein and Mike Arougheti acquired the team for a staggering $1.725 billion. The deal, confirmed by several reports, includes Orioles legend Cal Ripken Jr. as part of the ownership group.

The sale marks the ends of a 31-year era for the Angelos family, with John Angelos, the current chair and managing partner, agreeing to transfer control to Rubenstein.

The investment group, which boasts a diverse array of Maryland leaders, philantropists and sports legends will see Rubenstein and Arougheti initially own around 40% of the team. The remaining stake held by the Angelos family is set to be sold following the death of 94-year-old majority stakeholder Peter Angelos.

The significance of Cal Ripken Jr.'s involvement adds a sentiment of touch to the transaction. A Maryland native and Orioles icon, Ripken has an unmatched 2,632 consecutive games played, earning him the nickname "baseball’s Iron Man."

Beyond his playing days, he has remained deeply connected to the local baseball community, operating the Ripken Experience and serving as the founding owner of the Aberdeen Ironbirds, the Orioles’ High-A affiliate.

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Local philantropist, David Rubenstein, will lead the group of investors in the Baltimore Orioles sale

Maryland native and Orioles legend, Cal Ripken is reportedly involved with the acquisition of the Orioles.

David Rubenstein, a Baltimore native and co-founder of the Carlyle Group with a net worh of $3.7 billion, brings both financial prowess and local ties to the table.

Known for his philantropy, Rubenstein has contributed millions to community projects, including funding a panda habitar at the National Zoo and supporting medical research at Johns Hopkins.

The deal, though, awaits approval from MLB owners at their upcoming annual meeting in Orlando. If successful, Rubenstein’s ownership will signal a new chapter for the Baltimore Orioles, promising stability and a fresh direction under the stewardship of a group deeply rooted in both financial acumen and local affinity.

The potential impact on the Orioles’ broadcast rights, held in the majority by the Angelos family through the Mid-Atlantic Sports Network, adds an intriguing layer to the transformative sale.