ANGELOS TO BUY OUT DEWITT'S ORIOLES SHARES
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).