John P. Angelos is selling the Baltimore Orioles to private equity billionaires David Rubenstein and Mike Arougheti for a reported value of $1.725 billion. Rubenstein, a Baltimore native, and Arougheti, founders of private equity firms Carlyle Group and Ares Management Corp., respectively, are the buyers. The sale is subject to approval by Major League Baseball, with owners meeting next week in Orlando, Florida. Angelos has been the team’s chair and managing partner since 2020, and the Orioles recently secured a deal to stay at Camden Yards for 15 years, potentially extending it to 30 years.
