Angelos Family Fued

[spiritof66]

17 minutes ago, accinfo said:

They aren't going to sell the team until Peter Angelos passes.  The difference in taxes is too substantial.  I am a CPA.  That could happen tomorrow or he may live for several more years.  Maybe his passing is eminent which may be motivating this legal action.  That is just my speculation.  Certainly if they are cash poor that would probably force a sale to pay the inheritance taxes when he does pass.   

To split some hairs, you're not just speculating. You're making a very reasonable inference from the facts that are out there.

 

[Tom13206]

Woah what a bombshell.

Fortunately I think all of this will lead us to the light at the end of the tunnel and result in a sale of the team.

Unfortunately before a sale is made, it seems like things could get even messier and more embarrassing for our organization, which has already been the laughingstock of the league during this tanking stretch.

I doubt the MLB will let the O’s be moved from Baltimore but what do I know.

This could just be the beginning of one of the biggest moments in franchise history. Or it could result in not much at all. We’ll see.

[NelsonCruuuuuz]

3 hours ago, TradeAngelos said:

So Mom wanted to sell, and Lou blocked it and then LIED to her about having another buyer, trying to sell.....now is attempting to seize control of the team. The apple doesn't fall far from the tree that is for sure. 

It sounds like John wants to move to Nashville, and Mom and the others don't. Probably had a more local buyer on the line before he killed that deal. And now Lou is doing everything he can to get his way. Hence the lawsuit. 

Buckle up this is just the beginning. If you think that guy won't move this team if he has his way, you are mistaken IMO. Just look at the scant evidence we have so far, and that cryptic tweet by Fenton that more is coming.

Great post. Lou wants to sell, I gotta think mlb steers things in that direction for a variety of obvious reasons.

[NelsonCruuuuuz]

24 minutes ago, spiritof66 said:

To split some hairs, you're not just speculating. You're making a very reasonable inference from the facts that are out there.

 

He’s right.

[Aristotelian]

How did John "seize control"? If Angelos "intended" equal partnership being a lawyer you would expect he would have actually set that up. Instead he made John the sole CEO. This sounds like the loser is jealous after the fact. As long as Peter was of sound mind I can't imagine this has any merit. I just hope the Angelos era will come to an end with the Orioles in Baltimore. 

[Tony-OH]

Pretty big bombshell here. My early take is this is not good for the Orioles to be buyers this offseason. If the team is going to be sold, they don't want to have any big contracts to have to pay off.

[spiritof66]

23 minutes ago, NelsonCruuuuuz said:

Great post. Lou wants to sell, I gotta think mlb steers things in that direction for a variety of obvious reasons.

How's John Angelos going to get the approval of 22 other MLB owners for deserting Baltimore and Camden Yards, especially now that there is litigation about what authority he has to do that, with more lawsuits and dirt and accusations certain to come if he tries to move the team? Maybe he can do that, but I'd be shocked. 

And it's pretty clear that there's a commitment by MLB not to have any other team relocate until Tampa Bay and Oakland have decided whether they want to depart and there have been two expansion franchises awarded. If somebody might pay the owners billions to open up in Nashville, why should they let Angelos, whose father the Commissioner and some owners despise, move his team there for free? 

[Can_of_corn]

2 minutes ago, Tony-OH said:

Pretty big bombshell here. My early take is this is not good for the Orioles to be buyers this offseason. If the team is going to be sold, they don't want to have any big contracts to have to pay off.

True but honestly was anyone expecting them to add significant payroll?

[NelsonCruuuuuz]

6 minutes ago, Tony-OH said:

Pretty big bombshell here. My early take is this is not good for the Orioles to be buyers this offseason. If the team is going to be sold, they don't want to have any big contracts to have to pay off.

Yep. Everything hinges on Angelos’ death. I don’t like him as an owner but definitely  pretty morbid stuff. 

[OriolesMagic83]

11 minutes ago, spiritof66 said:

How's John Angelos going to get the approval of 22 other MLB owners for deserting Baltimore and Camden Yards, especially now that there is litigation about what authority he has to do that, with more lawsuits and dirt and accusations certain to come if he tries to move the team? Maybe he can do that, but I'd be shocked. 

And it's pretty clear that there's a commitment by MLB not to have any other team relocate until Tampa Bay and Oakland have decided whether they want to depart and there have been two expansion franchises awarded. If somebody might pay the owners billions to open up in Nashville, why should they let Angelos, whose father the Commissioner and some owners despise, move his team there for free? 

If the O's abandon the Baltimore market, I'm guessing MASN becomes valueless.  The Nationals will have good legal standing that they no longer owe revenue to a team that no longer exists in it's original form.  So the worth of MASN goes from hundreds of  millions (a billion?) to zero.

[spiritof66]

 

6 minutes ago, Tony-OH said:

Pretty big bombshell here. My early take is this is not good for the Orioles to be buyers this offseason. If the team is going to be sold, they don't want to have any big contracts to have to pay off.

 

3 minutes ago, Can_of_corn said:

True but honestly was anyone expecting them to add significant payroll?

I've long thought there would be no contracts until the last possible minute. The reason is that current ownership would have to pay some of those higher salaries, and there's no reason to think they'll recoup those higher costs in the form of an increased sale price. (They may make an exception for Mancini at the right price; no one likes to be tarred and feathered.)

But now that this is out in the open, there's an extra reason/excuse for current ownership to cheap out on payroll. The only question is, as it's been for a couple of years, is how low can they go?

 

[Emory Eagle]

This franchise has a shocking ability to achieve new lows.

[OsFanSinceThe80s]

Bleacher Report os reporting on it, but not seeing it on ESPN, Fox Sports and MLB.com. 

https://bleacherreport.com/articles/10038263-peter-angelos-sons-involved-in-lawsuit-over-orioles-ownership-possible-relocation

[Going Underground]

I think it will end like what happened with the Dodgers. MLB will force a sale.

.McCourt ends fight, agrees to sell Dodgers – Orange County Register
https://www.ocregister.com/2011/11/02/mccourt-ends-fight-agrees-to-sell-dodgers/

[spiritof66]

1 minute ago, OriolesMagic83 said:

If the O's abandon the Baltimore market, I'm guessing MASN becomes valueless.  The Nationals will have good legal standing that they no longer owe revenue to a team that no longer exists in it's original form.  So the worth of MASN goes from hundreds of  millions (a billion?) to zero.

You're right it would be, at a minimum, a big problem and destructive of value. Not sure how it would play out, but the uncertainty and potential value destruction would be another strong reason for the owners to reject the request to move. They don't like uncertainty of the sort that the Angeloses have provided in the MASN litigation.