Jump to content

Bloomberg: Carlyle Group/David Rubenstein In Talks To Purchase Orioles


ThisIsBirdland

Recommended Posts

2 minutes ago, sportsfan8703 said:

I think Rubenstein sells the naming rights of the stadium. 

If he does I could care less.  If he runs the team by offering competitive contracts to the home grown stars and adds a player or two in free agency that fills in needs that is all I care about.  It is the owner’s right to maximize his profits.  

  • Upvote 2
Link to comment
Share on other sites

6 hours ago, interloper said:

I think we're looking at a minority stake purchase pretty soon yeah? Pump some cash into the system right now, then buy later? Dunno if any of that is actually how things work but something is happening it seems.

I recall hearing that Peter’s assets were being put into a revokable trust to get around the capital gains issue.  If so, I could see something happening sooner rather than later.

I’d bet on Rubinstein taking a 49% share in Baltimore Orioles, Inc., which would give him ~35% share of Baltimore Orioles Limited Partnership (BOLP).  John stays as MLB Control Person, but David is very involved in Club oversight playing a much more active role than the LPs. 

There is the question of whether Rubinstein would get a Bisciotti-like path to majority control.  I’d guess no given that he is already fairly advanced in age.

I don’t think this transaction would provide a direct cash infusion to the Orioles, as the funds would be buying out Angelos family shares.  However, the deal would dramatically improve the Angelos’s near-term liquidity.  John would be much less dependent on near-term cash flow from the Club to fund his lifestyle.  This could change how he views risk/reward trade-offs of player investments, putting more weight on upside outcomes and less weight on the worst case scenario. 

Link to comment
Share on other sites

21 minutes ago, Warehouse said:

I recall hearing that Peter’s assets were being put into a revokable trust to get around the capital gains issue.  If so, I could see something happening sooner rather than later.

I’d bet on Rubinstein taking a 49% share in Baltimore Orioles, Inc., which would give him ~35% share of Baltimore Orioles Limited Partnership (BOLP).  John stays as MLB Control Person, but David is very involved in Club oversight playing a much more active role than the LPs. 

There is the question of whether Rubinstein would get a Bisciotti-like path to majority control.  I’d guess no given that he is already fairly advanced in age.

I don’t think this transaction would provide a direct cash infusion to the Orioles, as the funds would be buying out Angelos family shares.  However, the deal would dramatically improve the Angelos’s near-term liquidity.  John would be much less dependent on near-term cash flow from the Club to fund his lifestyle.  This could change how he views risk/reward trade-offs of player investments, putting more weight on upside outcomes and less weight on the worst case scenario. 

🤮 I hope you’re wrong …. I’m hoping the Angelos ownership fades into history.

  • Upvote 1
Link to comment
Share on other sites

27 minutes ago, Warehouse said:

I recall hearing that Peter’s assets were being put into a revokable trust to get around the capital gains issue.  

A revocable trust doesn’t affect taxes at all.  https://registers.maryland.gov/main/publications/REV-TRUST-FACTS.pdf. There are reasons to have one, but taxes generally aren’t one of those reasons.  

Link to comment
Share on other sites

6 minutes ago, Warehouse said:

Got it.  So any transaction likely needs to wait.

For me, the big unknown is what happens while Georgia Angelos is alive.  Spouses typically inherit assets without estate taxes being due.   And Georgia is a lot younger than Peter.   

  • Upvote 2
Link to comment
Share on other sites

2 hours ago, Frobby said:

A revocable trust doesn’t affect taxes at all.  https://registers.maryland.gov/main/publications/REV-TRUST-FACTS.pdf. There are reasons to have one, but taxes generally aren’t one of those reasons.  

Yes you can’t avoid the capital gains taxes if Peter Angelos sells or transfers his ownership while he is still alive.  

Link to comment
Share on other sites

2 hours ago, Frobby said:

For me, the big unknown is what happens while Georgia Angelos is alive.  Spouses typically inherit assets without estate taxes being due.   And Georgia is a lot younger than Peter.   

Yeah but I still think she's 81 years old herself. I don't wish anything against her but realistically most folks don't live to be Peters age and if they do usually don't have the best quality of life. I would expect her to want to resolve the future of the franchise fast, especially since she seems to (from what I've read about her) wanting to sell the team.

Link to comment
Share on other sites

10 hours ago, interloper said:

I think we're looking at a minority stake purchase pretty soon yeah? Pump some cash into the system right now, then buy later? Dunno if any of that is actually how things work but something is happening it seems.

I would doubt that. Why would someone invest money in the Orioles with a risk that he won't end up as the majority owner? 

Link to comment
Share on other sites

10 minutes ago, Justinlstn said:

Yeah but I still think she's 81 years old herself. I don't wish anything against her but realistically most folks don't live to be Peters age and if they do usually don't have the best quality of life. I would expect her to want to resolve the future of the franchise fast, especially since she seems to (from what I've read about her) wanting to sell the team.

The average life expectancy of an 81 year old female is 9 years.  

  • Upvote 1
Link to comment
Share on other sites

3 hours ago, Frobby said:

For me, the big unknown is what happens while Georgia Angelos is alive.  Spouses typically inherit assets without estate taxes being due.   And Georgia is a lot younger than Peter.   

Doesn't Georgia get the benefit of a bump up in asset value from $173 M to current after PA dies, which would avoid most Cap gains tax????

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Posts

    • I don't think it is really the past 5 games.  It is the next 4 months, potential playoffs, and all of next year that has people concerned.  Remember these elbows aren't just taking guys out this year, but most of next year as well. And Burnes probably won't be around next either. 
    • It is just a real shame that the Os are going through all of these elbows.  Take away all of the elbows going back to last year with Felix and I would say the Os are a lock to get to the WS and would have a great chance to win it all. I haven't seen this many injuries from a teams top guys in such a short amount of time in maybe.....forever. I am starting to wonder if it is something the Os are doing as far as their training.   Trying to obtain too much spin, revs, and velocity. I am a big Colts fan and for years we have complained about all of the knee blowouts and hammy injuries they get when playing at home.  Finally the Colts realized that it might be turf related from their home field and replaced it this past spring.    
    • I've been a fan for a long time too but mostly remember a lot of near misses, not tailspin collapses. 2005 comes to mind (Raffygate, Sammy Sosa, Lee Mazzilli, et al.)... what other seasons are you thinking of, to create scar tissue?
    • I really like Kremer.  Seems like a good guy and a solid arm. But he is not going to be the guy to get you into the playoffs and he especially won't be a guy between a make or break WS championship. 
    • We can hope he’s back to being his #5 self, but he’ll now be a #3, and let’s all x the fingers
    • The 5 game losing streak is a 5 game losing streak.  I am not too concerned about that unless it turns into something bigger. Every team goes through it.  What I am concerned about is losing 3 starters and 2 great relievers since last August with not a lot to replace them other than Burnes.  And they won't even back for most of next year...if at all. Add in the fact that Burnes is more than likely leaving after this year?  Our cupboard pitching wise is pretty bare as it looks right now. So imo you absolutely need to trade some of your AA and AAA players to get pitching help now and for next year.  This team is too good to waste years on players like GH and AR. 
    • Trading Drew Rom for Flaherty was not a big swing. It was trading a maybe prospect for a “hope he’s ok” guy with three months before FA. I am increasingly convinced Mike won’t make any bigger move this season, and what we have is basically what we will have.
  • Popular Contributors

×
×
  • Create New...