Watch: New Orioles Owner Buys Bar Round of Beers
Mike Arougheti found his own way to ingratiate himself to Baltimore Orioles on Opening Day as David Rubenstein's ownership group took control of the team.
Now that the sale of the Baltimore Orioles is final, the new ownership group participated in its first Opening Day on Thursday as the leadership of the team.
That included the two most visible members of the group, David Rubenstein and Mike Arougheti, who were both at Opening Day.
Both participated in a press conference well before first pitch. Rubenstein, a native of Baltimore who is the son of a postal worker and formed the Carlyle Group, a hedge fund, walked around Camden Yards, interacting with workers and fans alike, while taking selfies with several fans.
Meanwhile, Arougheti, who runs Ares Management, a hedge fund in New York City, made his way outside the gates of Camden Yards and into the area surrounding the stadium, camera crew in tow.
Arougheti wanted to introduce himself to Orioles fans, and he did it the best way he knew how — he walked into a bar, introduced himself and bought the entire bar a round.
Later, Arougheti made his way back into Camden Yards and joined with Rubenstein and several other co-owners and said “Play Ball” before the Orioles started their game with the Los Angeles Angels.
The owners of Major League Baseball approved the sale on Wednesday, giving Rubenstein and his group 40% ownership of the team. Importantly, Rubenstein will take over as the control person for the team, replacing John Angelos, who will move into an advisory role.
With the passing of Peter Angelos last weekend, Rubenstein and his group can buy more of the team at a later date. That was a condition of the sale. The elder Angelos was the leader of a group that bought the team in 1992.
The Angelos family and Rubenstein’s ownership group agreed to terms in January. It was believed it would take until nearly the All-Star Break for MLB to vet the sale. But it only took two months.
The new ownership group will include Orioles legend Cal Ripken Jr.
