Angelos Family Fued

[Frobby]

Here is a link to the court docket: https://casesearch.courts.state.md.us/casesearch/inquiryDetail.jis?caseId=C03CV22002262&loc=55&detailLoc=ODYCIVIL

Looks like a copy of the complaint isn’t available on the docket yet.  But, from the document list already there, it appears that copies of the Angelos family trust documents were filed on the docket as exhibits to the complaint.  So all that is going to be public.   I’ll look again tomorrow to see if the documents are available online.  It often takes a day or so in other jurisdictions I’m familiar with.  

[spiritof66]

Article in Forbes earlier this week about how it's a good market for those selling sports franchises. (As a non-subscriber, I don't know why I have access to this, but it popped up for some reason.)

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Stock Market Concern Has Piqued Interest In Owning Sports Teams

Mike Ozanian

Forbes Staff

Traffic cop at the intersection of money and sports

Follow

Jun 7, 2022,07:44am EDT STEPH CHAMBERS/GETTY IMAGES

With the S&P 500 down 14% since the beginning of the year and the economy wobbly, the very wealthy are looking to add a stake in a sports team to their portfolios.

That’s the word from sports bankers who tell Forbes that interest in sports teams is hotter than it has been in a long time, in part because the asset class is not tied to the performance of stocks or the economy.

Another factor in the trend: The number of billionaires has increased significantly the past five years. In 2017, Forbes counted 2,043 billionaires around the world, with an average net worth of $3.75 billion. In April, there were 2,668 billionaires, a 31% increase, with an average net worth of $4.76 billion.

The excitement for sports teams is evident in the flurry of deal activity. The Denver Broncos are on the verge of being sold for around $4.5 billion. AC Milan changed hands last week for $1.28 billion. A few weeks prior to that, Chelsea FC was acquired for $3.1 billion. MLB’s Washington Nationals and Cleveland Guardians are also on the block.

 

The market for noncontrolling stakes is also hot. Last year, private equity funds spent roughly $2 billion purchasing pieces of U.S. sports franchises. That figure is expected to be surpassed in 2022. A sports banker currently representing the buyers for two limited partner stakes in MLB teams tells Forbes: “Whether teams are making money or losing money doesn’t matter. My clients have money, and they feel owning a stake in a sports team is a safer bet than other investments right now.” The latest LP deal: Private equity firm Arctos Sports Partners is reportedly investing in the Philadelphia 76ers and New Jersey Devils. (The NBA, the NHL and MLB permit institutional investors.)

History suggests those who invest in teams during market turbulence do well.

In 2009, during the Great Recession, the Ricketts family paid a then MLB record $700 million for the Chicago Cubs and Wrigley Field, plus another $145 million for Tribune’s 25% stake in Comcast SportsNet Chicago, handing the media giant a thirteenfold increase in real terms on the investment it made two decades earlier. The Cubs have appreciated more than fivefold more since then and are now worth $3.8 billion, putting the team at No. 4 on the Forbes list of the most valuable teams in baseball.

Likewise, Stephen Ross bought control of the Miami Dolphins and their stadium for $1.1 billion, a record for a football franchise at the time, in a two-part deal in 2008 and 2009, also during the Great Recession. The Dolphins are now worth $3.42 billion.

 

 

 

 

[OsFanSinceThe80s]

3 minutes ago, waroriole said:

It’s funny that Roch and Melewski have been silent during tonight’s game. They’re usually on Twitter describing the action. Not sure when they’ll be allowed to speak again. 

They're probably going to avoid social media for the next couple days as their mentions will only be asking about this breaking news. 

[OsFanSinceThe80s]

4 minutes ago, Frobby said:

Here is a link to the court docket: https://casesearch.courts.state.md.us/casesearch/inquiryDetail.jis?caseId=C03CV22002262&loc=55&detailLoc=ODYCIVIL

Looks like a copy of the complaint isn’t available on the docket yet.  But, from the document list already there, it appears that copies of the Angelos family trust documents were filed on the docket as exhibits to the complaint.  So all that is going to be public.   I’ll look again tomorrow to see if the documents are available online.  It often takes a day or so in other jurisdictions I’m familiar with.  

I was waiting for the resident OH lawyer to chime in and you didn't disappoint. 

[Going Underground]

1 minute ago, OsFanSinceThe80s said:

They're probably going to avoid social media for the next couple days as their mentions will only be asking about this breaking news. 

Seriously they really can't say anything. 

[Going Underground]

6 minutes ago, Frobby said:

Here is a link to the court docket: https://casesearch.courts.state.md.us/casesearch/inquiryDetail.jis?caseId=C03CV22002262&loc=55&detailLoc=ODYCIVIL

Looks like a copy of the complaint isn’t available on the docket yet.  But, from the document list already there, it appears that copies of the Angelos family trust documents were filed on the docket as exhibits to the complaint.  So all that is going to be public.   I’ll look again tomorrow to see if the documents are available online.  It often takes a day or so in other jurisdictions I’m familiar with.  

Thanks. My friend thinks the reason Brady Anderson's name was mentioned is that he will be involved in the suit.

[waroriole]

2 minutes ago, OsFanSinceThe80s said:

They're probably going to avoid social media for the next couple days as their mentions will only be asking about this breaking news. 

I think it’s weirder if they just go radio silent. All they have to do is acknowledge the suit and say the Orioles have no comment at this time. 

[Just Regular]

I'll add to the endorsements of Fenton based on things I've seen and read.

Also a bit of just what media dynamics are these days...it isn't hard for me to imagine the Banner having better boots on the ground locally, and none of the conglomerate shyness around treating sensitive Orioles content with kid gloves.

It was new to me in the Banner story I just stepped through that Carter Faith is the daughter of an Angelos family lawyer.  Its a crazy town.

 

[OsFanSinceThe80s]

1 minute ago, Going Underground said:

Seriously they really can't say anything. 

Yep they both get paid by the Angelos family.

Roch is more of an entertainment reporter at this point in his career and this story isn't in his wheelhouse. And Melewski is good with covering the minor leagues, but I don't think he has a background in the law. 

[eddie83]

2 minutes ago, Going Underground said:

Thanks. My friend thinks the reason Brady Anderson's name was mentioned is that he will be involved in the suit.

What!!  Good grief. 

[OriolesMagic83]

4 groups were bidding on buying the Broncos with a sales price of $4.65 billion.  I can't imagine there would be a shortage of groups/individuals bidding on the O's.  Seems like the State of Maryland could sue the Orioles if they try to move after Maryland spends all this money on stadium updates.

[OsFanSinceThe80s]

3 minutes ago, waroriole said:

I think it’s weirder if they just go radio silent. All they have to do is acknowledge the suit and say the Orioles have no comment at this time. 

They might be under a gag order for tonight. I assume it will be business as usual tomorrow while avoiding the elephant in the room. 

[jdwilde1]

12 minutes ago, spiritof66 said:

I don't know him, but I'm glad to hear that. I did not mean to cast any asparagus on him, sorry to have implied anything about his ability or energy.

Ha, I did not take your comment that way at all.  My statement was just meant to convey that Fenton is a really legit reporter.  Being that he’s now with the Baltimore Banner, which is a new digital only publication, people not familiar with his work may question the credibility/accuracy of the report.  
 

If your interested, Fenton was heavily involved in the investigative reporting into the Baltimore City Gun Trace Task Force, and authored the book “We Own This City” on the same.  The book is currently an HBO miniseries.

 

[OsFanSinceThe80s]

6 minutes ago, Going Underground said:

Thanks. My friend thinks the reason Brady Anderson's name was mentioned is that he will be involved in the suit.

(This is getting better and better.)

[waroriole]

1 minute ago, OsFanSinceThe80s said:

They might be under a gag order for tonight. I assume it will be business as usual tomorrow while avoiding the elephant in the room. 

They have to acknowledge it. Otherwise it’s only going to be repeated questions about the suit.