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

[LookinUp]

6 minutes ago, Moose Milligan said:

I'd say the odds of Rubenstein purchasing control of the team is pretty slim, unfortunately.  It's a long process, there's a lot of hurdles, etc.

The one thing that is in his favor is that he seems to be an affable kind of guy, there are probably a lot of people that he could call on if he somehow needed financial assistance (he doesn't).  It doesn't seem like he's got a lot of enemies.

I'd say it's very likely that Rubenstein purchases the O's pretty soon. He has fewer hurdles to cross than a lot of folks would, assuming he's able to come up with majority cash requirements. The sale of our Commanders, for example, was much more difficult. Harris didn't have enough cash and had to bring a huge list of partners with him to make it work.

[Moose Milligan]

10 minutes ago, LookinUp said:

I'd say it's very likely that Rubenstein purchases the O's pretty soon. He has fewer hurdles to cross than a lot of folks would, assuming he's able to come up with majority cash requirements. The sale of our Commanders, for example, was much more difficult. Harris didn't have enough cash and had to bring a huge list of partners with him to make it work.

I'd say you hope that it's very likely that Rubenstein purchases the O's pretty soon (and I'm right there with you).  

He does have fewer hurdles to cross, that's true.  But it's still a process and although I'd like his chances to complete all those hurdles, we still don't even know if he wants to purchase the team.  We've got some credible rumors, but he hasn't made a statement that he's started the process.  

So I'll wait to see if the process starts before getting really excited about it.  Let's not forget the trouser snake that is John Angelos who is on the other side of the deal.  That's probably the biggest hurdle of them all.

[interloper]

19 minutes ago, LookinUp said:

I'd say it's very likely that Rubenstein purchases the O's pretty soon. He has fewer hurdles to cross than a lot of folks would, assuming he's able to come up with majority cash requirements. The sale of our Commanders, for example, was much more difficult. Harris didn't have enough cash and had to bring a huge list of partners with him to make it work.

I don't think there's really any chance of a sale soon and I'm not sure why anyone thinks that right now. Angelos has 3 full years to get his weird redevelopment project approved, and I'm sure that will come down to the final week of said 3 years just like the lease did. I think if we saw him settle for whatever he could get, that would maybe indicate he's trying to get out ASAP. But he didn't, and so now it seems to me he's locked in for at least 3 more years until he gets his real estate project approved. 

Other mitigating factors: Peter lives, John has outright told the state he's not selling, etc. 

Edited December 19, 2023 by interloper

[maybenxtyr]

6 minutes ago, interloper said:

I don't think there's really any chance of a sale soon and I'm not sure why anyone thinks that right now. Angelos has 3 full years to get his weird redevelopment project approved, and I'm sure that will come down to the final week of said 3 years just like the lease did. I think if we saw him settle for whatever he could get, that would maybe indicate he's trying to get out ASAP. But he didn't, and so now it seems to me he's locked in for at least 3 more years until he gets his real estate project approved. 

Other mitigating factors: Peter lives, John has outright told the state he's not selling, etc. 

That money for developing is exactly why I don't think JA sells anytime soon. There's way too many opportunities for government money to "disappear", and I can't see him letting someone else get the glory of changing the area.

[interloper]

5 minutes ago, maybenxtyr said:

That money for developing is exactly why I don't think JA sells anytime soon. There's way too many opportunities for government money to "disappear", and I can't see him letting someone else get the glory of changing the area.

If he eventually sells, I think he'll try to retain control of the redevelopment/real estate stuff while someone else owns the team. So he gets to be still involved while making money on the real estate side instead of fussing with the MLB/press stuff. I have no idea at this point honestly. But I'm just going to assume he's here for the long haul until one day he's not. 

[LookinUp]

13 minutes ago, maybenxtyr said:

That money for developing is exactly why I don't think JA sells anytime soon. There's way too many opportunities for government money to "disappear", and I can't see him letting someone else get the glory of changing the area.

See, I think the opposite. I think the money to re-develop is a massive asset that will inflate the sale price. I don't think he plans to run the project. I think he sees it like a homeowner sees a sparkling new kitchen. Something that raises the price.

I don't know what JA wants, but to me the sale almost has to happen within 12ish months of PAs death. It's not just the MASSIVE taxes that he can't pay, it's the whole legal situation with his brother and mother. I think he's already preparing the sale, at least partially because of that. It's just a matter of time.

You guys are reminding me of the Redskins fans who were convinced Snyder would never sell. I think it was inevitable, just like this is with the Angelos family. It's happening, and soon.

[interloper]

3 minutes ago, LookinUp said:

See, I think the opposite. I think the money to re-develop is a massive asset that will inflate the sale price. I don't think he plans to run the project. I think he sees it like a homeowner sees a sparkling new kitchen. Something that raises the price.

I don't know what JA wants, but to me the sale almost has to happen within 12ish months of PAs death. It's not just the MASSIVE taxes that he can't pay, it's the whole legal situation with his brother and mother. I think he's already preparing the sale, at least partially because of that. It's just a matter of time.

You guys are reminding me of the Redskins fans who were convinced Snyder would never sell. I think it was inevitable, just like this is with the Angelos family. It's happening, and soon.

I agree that the redevelopment is an asset, and that he probably eventually sells, but I just figure it's going to take those 3 years to lock in a deal. It's the reason the lease went down to the wire in the first place, so it's not encouraging that they built in a full 3 years to continue negotiating. That tells me he's not in a rush and was just using the lease as leverage since it was conveniently there. 

Edited December 19, 2023 by interloper

[ThisIsBirdland]

With the lease providing the Orioles with the rights to develop that property, that value has already been added to the Orioles. Angelos can go to Rubenstein and say, "The Orioles were worth $1.3 billion before, but I've secured a $200 million development deal, I'll sell for $1.5 billion". Rubenstein would obviously negotiate over how much value the development deal actually adds to the team, especially since it will need approval and oversight from the state, but it's already added value to the asset. Angelos doesn't need to wait for it to actually be approved and built to benefit off of it.

[DenaOsHon]

1 hour ago, Moose Milligan said:

I'd say the odds of Rubenstein purchasing control of the team is pretty slim, unfortunately.  It's a long process, there's a lot of hurdles, etc.

The one thing that is in his favor is that he seems to be an affable kind of guy, there are probably a lot of people that he could call on if he somehow needed financial assistance (he doesn't).  It doesn't seem like he's got a lot of enemies.

Do you think he would consider a minority stake?

[Moose Milligan]

4 minutes ago, DenaOsHon said:

Do you think he would consider a minority stake?

I hope so…with the intention to become majority owner later down the line. 

[RZNJ]

1 hour ago, Moose Milligan said:

As someone who's firmly entrenched in society's elite establishment/upper class, it doesn't bother me at all, too.

Are you a butler?

[Moose Milligan]

2 minutes ago, RZNJ said:

Are you a butler?

Nope, find someone else to clean your Depends, RZ.  

[RZNJ]

Just now, Moose Milligan said:

Nope, find someone else to clean your Depends, RZ.  

Now you’re pretending not to know what butlers do or don’t do.   Clever.

[ScGO's]

2 hours ago, Rbiggs2525 said:

Really conflicted on this one. The more I read about him the more concerns I have. I didn’t know about the council of foreign relations until yesterday. It’s hard to find on the internet now but Jeffrey Epstein was a member up until 2009. He also made a donation 2019 to them. Guess who the chairman there is?

 

I know it will be a conspiracy thought but I think it’s important to look into future owner.

Carlyle group is hands down sketchy. World movers, Big Bank money, Assassination money, etc. Wouldn't be surprised if sinister things existed in his closet. Very sinister things. However, will he spend money on starting pitching...

[Moose Milligan]

3 minutes ago, RZNJ said:

Now you’re pretending not to know what butlers do or don’t do.   Clever.

I just knew what you were gonna ask for before you could DM me for it.