MLB Executives Shocked by Orioles Sale Price
John Angelos agreed to sell the Baltimore Orioles to a group led by billionaire David Rubenstein of the Carylye Group. The decision was a surprising one given the situation that the team is currently in.
Rubenstein paid $1.725 million and has the control stake of the team. Angelos will still be in the organization as a senior advisor. The $1.725 billion was lower than some around the industry expected.
According to Bob Nightengale of USA Today, other owners around the league were stunned that the Orioles were sold for that amount. Nightengale adds that owners around the league believed they would have had a higher bidder if they opened it to others.
It is fair to assume that more money could have been made. Baltimore is in a better spot than any other team in baseball moving forward due to what Mike Elias and others have done.
With Corbin Burnes now in the mix, the Orioles have a legitimate chance to win a World Series in 2024.
The team is coming off a season where they won 101 games and the American League East. The 101 wins were impressive and while they did lose in the ALDS, the expectation is that they are going to be even better in 2024.
The fact that they were able to play the way that they did during the 2023 season shows that they have an opportunity to not only be one of the best teams in baseball, but a potential dynasty. The roster that they have put together with that farm system makes for an exciting future.
Selling it at this point was a surprise for Angelos and could come back to be the wrong decision one day.
