MLB Unanimously Approves Baltimore Orioles Sale

The Baltimore Orioles are now officially under the leadership of David Rubenstein after MLB approved the team's sale on Wednesday.

May 6, 2023; Atlanta, Georgia, USA; A detailed view of a Baltimore Orioles hat and glove in the / Brett Davis-USA TODAY Sports

The sale of the Baltimore Orioles to a group led by David Rubenstein and Mike Arougheti is now final after a vote by the owners of the other 29 Major League Baseball teams.

Per ESPN, the vote was unanimous and the sale was approved for $1.725 billion, as previously announced when news of the sale first broke a couple of months ago.

The Baltimore Orioles officially announced the sale through its social media channels and web site. The team also announced an 11 a.m. ET press conference on Thursday before the Opening Day game with the Los Angeles Angels.

In the original agreement Rubenstein and his group will receive 40% of the team and Rubenstein will be the team’s new leader. He will replace John Angelos, who will remain with the team as a senior advisor.

With the passing of Angelos family patriarch and former owner Peter Angelos, Rubenstein and his partners can acquire up to 30% more of the team, as was originally agreed upon.

The sale moved at a breakneck pace. When the agreement was originally announced in January, it was believed that it would take MLB no later than the All-Star Break to approve.

The MLB ownership committee, the working group that vets team sales before they are submitted to league owners for a vote, approved the sale earlier this month and MLB moved quickly to get a full vote of league ownership.

Rubenstein, a long-time Orioles fan and co-founder of the private equity firm, The Carlyle Group, had a short message on social media for Orioles fans after learning the sale had been approved.

“I'm breathing again...MLB just unanimously approved the deal! @orioles, the Next Chapter has begun! Go O's!”

The new ownership group inherit a team with a small-market payroll but one of the most stocked rosters and farm systems in baseball as the franchise is coming off a 101-win season and an American League East title.

The new ownership group will include Orioles legend Cal Ripken Jr.