Group buying Orioles includes Carl Ripken Jr. and Grant Hill

MLB Hall of Famer Cal Ripken Jr. and NBA Hall of Famer Grant Hill are part of a group that has agreed to buy a majority stake in the Orioles for $1.725 million.

Cal Ripken Jr. and Grant Hill He is part of the investment group that agreed to buy the Baltimore Orioles, as was the former New York mayor, michael bloombergand former mayor of Baltimore, kurt schmoke,

The group is led david rubensteinNative of Baltimore, co-founder of Carlyle Group, Additional investors were disclosed in a Wednesday news release announcing the deal between Rubenstein and the Angelos family.

“I’m excited to once again be a part of the Orioles organization and thank David for joining me in the ownership group,” Ripken said in a statement. “The Orioles have been a part of my life since I was a kid and this is a special day.”

The Angelos family has run the team for the past three decades and are selling a majority stake in the team to Rubenstein for $1.725 million.

“I am grateful to the Angelos family for the opportunity to join the team of which I have been a lifelong fan. I look forward to working with all of the Orioles’ owners, players and staff to build on the incredible success the team has enjoyed.” “Curious.” achieved in recent seasons.” Rubenstein said. “Our collective goal will be to bring the World Series trophy back to the city of Baltimore. To the fans I say: We do this for you and we can’t do it without you.”

john angelosThe current president of the club will remain a senior advisor.

“I am personally committed to helping David and his partners take the franchise to the next level,” Angelos said. “We believe this transaction is an excellent fit for major League Baseball and to Baltimore and Maryland City. “We are grateful to the fans and followers who cheered on the O’s as we reached this important milestone, and are also grateful to those who will join us in celebrating further success.”

Rubenstein’s investment team includes Ripken and Hill, in addition to being members of Baseball Hall of Fame And basketball is related to extended area. Ripken, of course, is an Orioles legend who was born in Havre de Grace, Maryland. Hill is from Northern Virginia, not far from Washington.

Other members of the investment group include Bloomberg, Schmoke, Ares Management co-founder Michael Arughetti, Ares Credit Group co-directors Michelle Goldstein and Michael Smith, and Cognosante founder Michelle Kang, who also owns the NWSL’s Washington Spirit.,

The sale is subject to a full vote of Major League Baseball owners and must receive 75% approval.,

The Angelos family has controlled the Orioles since 1993, when Peter Angelos purchased the team for $173 million. Angelos’ son, John, is the current team president, and the Orioles recently reached agreement on a new lease extension. Camden Yards,

“Governor Moore would like to thank the Angelos family for their contributions to the Orioles community and this historic franchise,” said Carter Elliott, a spokesman for Maryland Governor Wes Moore. “Keeping the Orioles in Baltimore long-term was a key priority for this administration and we are proud that this transaction will not change that.”

The Angelos family will maintain a significant investment in the team.

John Angelos said, “When I took over as President and CEO of the Orioles, our goals were to restore the franchise to elite status in major league sports, keep the team in Baltimore, and revitalize our membership group.” “This relationship with David Rubenstein and his partners confirms that we have not only met our objectives, but exceeded them.”

The Orioles won 101 games last season, the most since 1979, and their future looks bright thanks to young stars Adley Rutschman and Gunnar Henderson, as well as a farm system that is full of top prospects moving on. Has happened. Big league.

The team’s low payroll has been a sore point for fans, but this sale gives hope that the Orioles can spend aggressively to make the most of the impressive talent base they have built.