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A person with knowledge of the deal says Carlyle Group Inc. co-founder David Rubenstein has reached an agreement to buy the Baltimore Orioles for $1.725 billion.
Carlyle Group Inc. co-founder and Baltimore native David Rubenstein has reached an agreement to buy the Baltimore Orioles for $1.725 billion, a source says. The Angelos family has been in control of the Orioles since 1993, when Peter Angelos purchased the team for $173 million. Angelos’ son John is the team’s current chairman.
A person with knowledge of the deal says Carlyle Group Inc. co-founder David Rubenstein has reached an agreement to buy the Baltimore Orioles for $1.725 billion
Rubenstein, a Baltimore native, will take over as the team’s controlling owner, and he’s assembled an investment team that includes Ares co-founder Michael Arougheti.