Rubenstein group completes purchase of Orioles

The Orioles are now under complete control of David Rubenstein and his partners. Rubenstein, whose purchase of the team from the Angelos family was approved by Major League Baseball on March 27th, bought the team for $1.724 billion. The sale of the remaining 60 percent was completed on Thursday.

Rubenstein, who’s now the control owner, issued a statement: “I thank John Angelos and his family for their team leadership and ownership of the team over the last 30 years. John led a dramatic overhaul of the team’s management, roster, recruitment strategy and farm system.

“We are building on these accomplishments thanks to the outstanding work of Mike Elias, his leadership team, Brandon Hyde and our great players.

“We’re thrilled to have Catie Griggs soon join us as the new team president of business operations as we focus on winning on and off the field.

“As an ownership group we are firmly committed to this team and to my hometown. Our ownership group comprises a group of world-class investors, Baltimore leaders, and sports legends who are committed to the success of the Orioles and the revitalization of Baltimore.

“We look forward to working with our partners in the city and state as we refurbish Oriole Park, develop the area surrounding Camden Yards and enhance the experience for all Orioles fans.”

Peter Angelos bought the team in October 1993, and when he fell ill in late 2017, John Angelos took over the team. The sale was announced on January 30th.