Rubenstein voted in as Orioles control person

Ownership of the Baltimore Orioles has officially changed hands.

Major League Baseball owners voted unanimously today, as expected, on David Rubenstein’s purchase of the team two months after the wheels were set in motion. And about 24 hours before the Orioles begin their pursuit of a second consecutive playoff berth.

Camden Yards will be packed on Thursday for Opening Day. Rubenstein will be watching as the control person.

“On behalf of Major League Baseball, I thank the Angelos family for their many years of service to the game and the communities of Baltimore,” commissioner Rob Manfred said in a statement.” Peter Angelos loved Baseball, loved Baltimore and was an important part of MLB for more than three decades.

“I congratulate David Rubenstein on receiving approval from the Major League Clubs as the new control person of the Orioles.  As a Baltimore native and a lifelong fan of the team, David is uniquely suited to lead the Orioles moving forward.  We welcome David and his partners as the new stewards of the franchise.” 

Rubenstein posted on the former Twitter: “I'm breathing again...MLB just unanimously approved the deal! @orioles, the Next Chapter has begun! Go O's!

Rubenstein and his ownership group, which includes Ares Management CEO Mike Arougheti, former New York City mayor Michael Bloomberg, baseball Hall of Famer and Orioles legend Cal Ripken Jr., and basketball Hall of Famer Grant Hill, initially will have a 40-percent stake in the team. They will receive a larger share following the death of former owner Peter G. Angelos on Saturday.

The sale price was set at $1.725 billion. The Angelos family purchased the team for $173 million in 1993 to guarantee local ownership.

Rubenstein made multiple appearances at Ed Smith Stadium for spring training games, observing from a suite but also walking through the stands and concourse area, shaking hands with fans and posing for photos.

Yesterday, Rubenstein visited the ballpark and met with Ripken, manager Brandon Hyde and shortstop Gunnar Henderson.

“To own the Orioles is a great civic duty. On behalf of my fellow owners, I want the Baltimore community and Orioles fans everywhere to know that we will work our hardest to deliver for you with professionalism, integrity, excellence, and a fierce desire to win games,” Rubenstein said in a statement.

“I thank John Angelos and his family for all they have done to bring us to this point. John led a dramatic overhaul of the team’s management, roster, recruitment strategy, and farm system in recent years. Our job is to build on these accomplishments to advance a world-class professional sports agenda – with eyes on returning a World Series trophy to Baltimore.”

Arougheti said, “The Orioles are a historic franchise with an incredible stadium and the best fans in baseball. We share David’s passion for winning and look forward to working with him and the talented Orioles team to bring best-in class experiences to O’s fans and to the Baltimore community.”

John Angelos became Orioles Chair, CEO, and Control Person in 2019.

“I thank our entire partnership group and our talented front office team for their confidence and support of my efforts to restore the Orioles to elite status in Major League Baseball, to renew and extend our long-term partnership in Baltimore so that the next generation of Marylanders will grow up enjoying the Birds of Baltimore, and to transition stewardship of the Club to David and his partnership group,” Angelos said.

“Capping our organizational turnaround with a championship in perhaps the toughest division in sports, while fulfilling my pledge that the O’s would forever play ball in Charm City, dovetails perfectly with the privilege to now pass stewardship of Baltimore’s iconic team to a Baltimore native, passionate American, and celebrated philanthropist in David Rubenstein. The Orioles are in great hands, and the Club, as well as the City and State that it calls home, are well positioned for success into the future.”

The Orioles will hold a press conference Thursday at 11 a.m. at Camden Yards to provide more information on the sale.

The investor group also includes Mitchell Goledstein and Michael Smith, co-heads of the Ares Management Credit Group.

Subject to Major League Baseball approval, the ownership group also will include the following:

Michele Kang, businesswoman and owner of the Washington Spirit.

Kurt Schmoke, former Baltimore Mayor.

Bill Miller, investor, philanthropist.

Rick Rieder, business leader.

Greg Baroni, business leader.

Stan, Allison and Albert Chen, business leaders.

Kate Ramsdell, lifelong Orioles fan.

Lauren Tabak Fass, attorney and philanthropist

Jason Reese, business leader.