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

[drjohnnyfever1]

I just hope the Angelosi don't screw this up.  They've stepped in every pile of sh!t all along their ownership trail, even when likely trying to avoid doing so.  I think the Elias hire was almost something of a happy accident.  Anyone who knew anything knew he was the guy, so not picking him and failing with the situation the team was in would have lead to more sunshine on their "stupid."  It was a must do pick.  Thank God.  I give no credit to JA for actually doing the work to find the guy, I give him credit for being smart enough to know that not picking Elias would have proven he is a dope if he picked anyone else.

So I welcome anyone who are not associated with these Angelosi clowns.  Good riddance.

What motivation would Rubenstein have for letting Elias move on or encouraging it?  That makes no sense to me.  He's likely pushing to buy harder now knowing the arc that Elias and Co. have created and continue to create.

 

[SemperFi]

27 minutes ago, DenaOsHon said:

Any sense on how long this could take? I assume it would be next offseason? There is a lot to clean up with the lease, masn dispute and Angelos health. 

I believe any sale needs to be approved at an Owners meeting.  Next meeting is June, then November. 

The sale will be approved-the owners will be so delighted to get rid of the Angelos family that they may call an emergency meeting!!!!

[SemperFi]

11 minutes ago, drjohnnyfever1 said:

I just hope the Angelosi don't screw this up.  They've stepped in every pile of sh!t all along their ownership trail, even when likely trying to avoid doing so.  I think the Elias hire was almost something of a happy accident.  Anyone who knew anything knew he was the guy, so not picking him and failing with the situation the team was in would have lead to more sunshine on their "stupid."  It was a must do pick.  Thank God.  I give no credit to JA for actually doing the work to find the guy, I give him credit for being smart enough to know that not picking Elias would have proven he is a dope if he picked anyone else.

So I welcome anyone who are not associated with these Angelosi clowns.  Good riddance.

What motivation would Rubenstein have for letting Elias move on or encouraging it?  That makes no sense to me.  He's likely pushing to buy harder now knowing the arc that Elias and Co. have created and continue to create.

 

The franchise has much more value with Elias. 

One of the nicer things about this is that at 74 Rubenstein will certainly be motivated to win right away-no long rebuild for him.

[One eyed Bird]

49 minutes ago, Can_of_corn said:

That's pretty gross.

Not nearly as gross as what the Angelos clan has done to the once proud Baltimore Orioles franchise, at one time the model franchise in all of MLB along with the Dodgers

[Number5]

36 minutes ago, Frobby said:

Both Rubenstein and I went to Duke before Coach K was there.  In Rubenstein’s case, he was going to Duke when Coach K was playing for Army.  

Didn't John Angelos go there, too?

[Can_of_corn]

5 minutes ago, One eyed Bird said:

Not nearly as gross as what the Angelos clan has done to the once proud Baltimore Orioles franchise, at one time the model franchise in all of MLB along with the Dodgers

That decline started well before the Angelos family entered the picture.

[Frobby]

15 minutes ago, drjohnnyfever1 said:

I just hope the Angelosi don't screw this up.  They've stepped in every pile of sh!t all along their ownership trail, even when likely trying to avoid doing so.  I think the Elias hire was almost something of a happy accident.  Anyone who knew anything knew he was the guy, so not picking him and failing with the situation the team was in would have lead to more sunshine on their "stupid."  It was a must do pick.  Thank God.  I give no credit to JA for actually doing the work to find the guy, I give him credit for being smart enough to know that not picking Elias would have proven he is a dope if he picked anyone else.

 

I don’t remember it being that crystal clear.

“According to MASN’s Roch Kubatko, other candidates for the position included former major-league GMs Ned Colletti and Ben Cherington, current MLB employees Peter Woodford and Tyrone Brooks, Royals assistant GM Scott Sharp, Phillies assistant GM Ned Rice, and Tigers assistant GM David Chadd, who removed himself from consideration prior to the final decision.”

I will give Angelos credit for hiring Elias.  

[Just Regular]

I think Mike Elias' TPS reports have coverpages and that an owner Rubinstein (or just about anyone save maybe Reinsdorf or Monfort) would have process that is meritocratic, in addition to perhaps more generous with front office staff.

[Bemorewins]

8 minutes ago, SemperFi said:

The franchise has much more value with Elias. 

One of the nicer things about this is that at 74 Rubenstein will certainly be motivated to win right away-no long rebuild for him.

The ground work for the "long rebuild" has already been done. The next owner of the team (if it's Rubenstein) will get to inherit an ideal situation (a lot of young assets + an ultra low payroll = lots of options).

[Bird Lady]

"What motivation would Rubenstein have for letting Elias move on or encouraging it?  That makes no sense to me.  He's likely pushing to buy harder now knowing the arc that Elias and Co. have created and continue to create."

 

This. The man can certainly see who the architect of this team is, and I would think would want to keep him here at all costs. And as far as Elias goes, he would probably be at the front of the line to welcome an owner such as this.

[Morgan423]

3 hours ago, Pickles said:

I don't like this dude for a number of reasons, and yes, I've heard of him before a week ago.

But I will say this: How these billionaires make their money can you tell a lot about how they're going to run their organizations.

Peter Angelos made his money as a trial lawyer and he ran his baseball team as one.  It was disastrous on a numbrer of levels.

Steve Bisciotti made his money in personnel, and he's ran his football team as such.  And it's been very successful.

Rubenstein is a lawyer and investment capitalist, who seems to have made his money largely because of a lot of friendly relationships with people inside the Beltway.

That doesn't inspire me with confidence.

All he's got to do is keep the current front office in place, let them run 99.9999% of everything, and not pinch pennies.

[Birdland in NC]

3 hours ago, Rbiggs2525 said:

I can’t stand the Angelos but don’t see the mlb allowing us to sell to international arms dealer.

Maybe we’ll sign one of those Japanese pitchers 

[Can_of_corn]

17 minutes ago, Number5 said:

Didn't John Angelos go there, too?

Duke yes, Army no.

[Br10n]

If people think the wallet will be wide open under the new regime they will be sadly disappointed.  It will be business as usual. 

Edited December 7, 2023 by Br10n

[SemperFi]

3 hours ago, MTMan13 said:

Sure, but you have significantly less "lame duck" risk where the group is not acting in the best interests of the team because of a power void.

While David's net worth is significant, $4bn would seem to not be enough for him to be a >50% shareholder of the team. Suspect we're a >$2bn price tag based on the Mets revenue multiple (and 2023 Revenue was undoubtedly much higher than the 2022 number I'm using). No idea how much debt is allowable in these deals (the NFL has limits), but presumably the required equity check is >$1bn. Seriously doubt a $4bn net worth family would allocate more than $400-500MM to own a professional sports team. So hopefully he's got a big group of rich Baltimore fans who each own 5-10%. Would be cool to see Biscotti take a piece and have a pre-wired succession plan to be the majority owner of the team once David needs to step down. 

Who knows though, he's probably a competing bidder!  

The allowed MLB debt ratio is 10X EBITA but it's loosely enforced.  Forbes lists Orioles debt at 13% of value which at $1.7b would be ~$220m.  MLB teams had an average credit line of $125m, I'm guessing the Orioles debt with MLB is higher as there are some teams that hold no debt.