The Orioles for years have “been in something of an uncertain state"Getty Images
The Orioles' new ownership led by David Rubenstein and Mike Arougheti “will offer fresh hope” for the franchise, including the “possibility” signing players such as C Adley Rutschman and 3B/SS Gunnar Henderson to long-term extensions and the “additions of big-money free agents who would enable the team to sustain success in the AL East against financial powerhouses” such as the Yankees and Red Sox, according to Ken Rosenthal of THE ATHLETIC. The Orioles for years have “been in something of an uncertain state,” between Peter Angelos’ condition, the lease negotiations with the state and the dispute with the Nationals over rights fees from MASN -- in which the teams share ownership. But the Rubenstein-Arougheti group, which will start out owning 40% of the club at a $1.725B valuation and will buy the Angelos' remaining stake after Peter Angelos' death, is “entering the picture at a moment when the club’s competitive fortunes are rapidly improving.” The “prospect of change occurring anytime soon under the Angelos family was minimal,” but with news of the sale, the franchise’s “entire picture brightens.” Rosenthal noted the team’s new lease at Camden Yards is for at least 15 years and “will extend to 30 years if the Orioles reach agreement with the state by 2027 to develop parts of land around Camden Yards.” And Rubenstein’s net worth, estimated by Forbes to be $3.7B, “should enhance the team’s competitive position.” And while private-equity investors are “hardly certain to prove good owners,” Rosenthal wrote he is “guessing Orioles fans will welcome change for the sake of change” (THE ATHLETIC, 1/30).
A LOOMING GIANT: MLB Radio’s Steve Phillips said there is a “lot of excitement out there” today for Orioles fans. The sale is “going to send ripple effects around baseball because a team with great young talent who has no long-term money invested has now new ownership coming in that want to make a splash.” Phillips: “They’re not going to be nearly as risk averse. This team is going to be a monster moving forward.” MLB Radio’s Eduardo Perez: “It’s going to be a beast and it should be a beast. Let’s start with the fact that Rubenstein is in his 70s. We’ve seen owners when they are older be a lot more aggressive because they want to experience the win. They want to be able to stand at the podium ... raise that trophy and say, ‘This ownership brought you a championship.’” Phillips added, “If I’m in the American League East, I am petrified of this move. The Orioles have been the most risk-averse team in all of baseball. They just don’t sign any long-term contracts. ... Now they can consider things that they haven’t. They’re already built up with a young core, and they have so much financial flexibility, they can go in any direction right now” (“The Leadoff Spot,” MLB Radio, 1/31).
MIXED EMOTIONS: THE ATHLETIC’s Brittany Ghiroli wrote Peter Angelos’s tenure was “controversial,” as he was “known early on in his ownership tenure as being incredibly hands-on, often accused of being meddlesome as Baltimore churned through managers and front offices.” Angelos “won public points” for his refusal to use replacement players if needed during baseball’s strike and was “well-known for massive philanthropic endeavors in Baltimore.” But he later “became more of a recluse.” Angelos spoke in the clubhouse after the Orioles' loss to the Yankees in the 2012 AL Divisional Series, which was a “rare sight and one of his last public comments” (THE ATHLETIC, 1/30).
