The Orioles officially, officially have a new owner, according to their new owner.
Early Wednesday afternoon, David Rubenstein, the leader of the group set to purchase the O’s from the Angelos family, Tweeted the following:
“I'm breathing again...MLB just unanimously approved the deal! @orioles, the Next Chapter has begun! Go O's!”
Rubenstein followed that up with a video message to Orioles fans, which followed the team’s own video, and he released a statement thanking the Angelos family for 30 years of ownership.
“To own the Orioles is a great civic duty,” the statement began. “I want to thank John Angelos and his family for all they have done to bring us to this point.”
Rubenstein, a Baltimore native, had interest in purchasing the Orioles prior to 2024, but in late-January, the Angelos family agreed to sell to a group headed by The Carlyle Group co-founder for $1.725 billion – nearly 10 times the $173 million Peter Angelos bought the team for in 1993.
The way the deal was initially structured, Rubenstein’s group would initially purchase 40 percent of the club, with the rest to be purchased following Peter Angelos' death – a setup done to minimize the capital gains taxes for the Angelos family.
However, Peter Angelos passed away over the weekend, so Rubenstein’s group will assume 100 percent control following Wednesday’s approval.