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ANGELOS TO BUY OUT DEWITT'S ORIOLES SHARES
Published May 24, 1995
Cincinnati Investment banker William DeWitt and his partners will sell their limited interests in the Orioles to principal owner Peter Angelos for the approximately $4M originally invested. DeWitt, who "nearly became" the club's controlling owner in '93, combined with Angelos' group later that year when the Orioles were auctioned by a U.S. Bankruptcy court. Angelos said once the deal is completed, the club will be "100 percent owned by Maryland investors" (Mark Hyman, Baltimore SUN, 5/24). DeWitt attributed the reason for the sale to his proximity: "We enjoyed being a part of the franchise. But we just don't get a chance to get to Baltimore" (Mark Maske, WASHINGTON POST, 5/24).