Puck News: Orioles sold to Rubenstein

[Number5]

 

[Yardball85]

OMG, best news ever.  I think it's true...

[Can_of_corn]

1 minute ago, Moose Milligan said:

I dunno who Puck is but I hope they’re right. 

Found a picture online.

 

[Can_of_corn]

1 minute ago, wildbillhiccup said:

Assuming he's still employed. 

I'd consider him getting fired confirmation.

[OsFanSinceThe80s]

1 minute ago, wildbillhiccup said:

Assuming he's still employed. 

I assume Roch is intently googling David Rubenstein’s bio at the moment. 

[Can_of_corn]

3 minutes ago, OsFanSinceThe80s said:

Been listening to 105.7 David Rubenstein and his business partner are buying a 40% stake in the Orioles. They will purchase the remaining 60% of the team upon Peter Angelos passing. 

I don't think the Angelos family owns 100% of the team.

[Keygans]

1 minute ago, Can_of_corn said:

I don't think the Angelos family owns 100% of the team.

They do not 

[Orioles Jim]

Hopefully this results in immediate controlling stake for Rubenstein.

Hopefully it results in semi-immediate extensions for Adley and Gunnar. 

[Big Mac]

Just now, Can_of_corn said:

I don't think the Angelos family owns 100% of the team.

I would assume there is a drag-along provision in the partnership agreement that requires the minority investors to sell their interest in this scenario. 

[Roll Tide]

 

[OsFanSinceThe80s]

1 minute ago, Can_of_corn said:

I don't think the Angelos family owns 100% of the team.

Well whatever the case it’s being implied Rubenstein and his partner are buying the whole team which I would assume includes the minority shareholders. 

[Can_of_corn]

1 minute ago, Big Mac said:

I would assume there is a drag-along provision in the partnership agreement that requires the minority investors to sell their interest in this scenario. 

Not my area of study but that sounds sus, as the kids said last year.

[Big Mac]

Just now, Can_of_corn said:

Not my area of study but that sounds sus, as the kids said last year.

It's a market provision to prevent minority holders from blocking a sale of a business.  I'd be absolutely shocked if the partnership agreement doesn't include a mechanism like that. 

[PepeSylvia]

DING DONG THE WITCH IS DEAD

[wildbillhiccup]

All of us as soon as one of the big national reporters confirms this report.