The transaction, which includes MASN, the regional TV home of the Orioles and Nationals, values the club and its assets at $1.725BTommy Gilligan/USA TODAY NETWORK
MLB's owners today unanimously approved the transfer of a controlling stake in the Orioles from the Angelos family to a group led by Carlyle Group co-founder David Rubenstein. The vote was the "final step in a weekslong process, making Rubenstein the team’s control person" and taking the team out of the Angelos family’s hands for the first time since 1993. The transaction, which includes MASN, the regional TV home of the Orioles and Nationals, values the club and its assets at $1.725B. Rubenstein's group will initially assume a roughly 40% ownership stake in the club with an "agreement to purchase the remaining equity over time." The new owners inherit a lease negotiated with the stadium authority and approved by the Board of Public Works in December which keeps the club at state-owned Camden Yards for a "minimum of 15 years and frees up" roughly $400M in state investment to the ballpark (BALTIMORE SUN, 3/27).
