Puck News: Orioles sold to Rubenstein

[Billy F-Face3]

1 hour ago, Snutchy said:

I’ve been to Nashville and that place is expensive. Poor me had to stick to $10 beers because I got tired of paying for $20 old fashions. 

Every time I went to the Wild Horse Saloon in Nashville, the waitress would chat and provide me with free drinks. Tootsies was a fun place too.

 

Anyway, maybe now we can trade for a player like Corbin Burnes or Framber Valdez and actually have a hope of resigning him before he hits free agency. At least we can hope.

It's still too soon to know what type of new owners we are getting. Rubenstein has already stated his intention to make money, so that would surmise that he will start out being conservative. And as long as he's got Mike Elias & Sig Mejdal to lean on, I think he'll be in great shape with the organization's contracts, finances, and roster talent. Hopefully the front office and baseball operations people who are great at evaluating baseball players, can develop good relationships with the new ownership group so that they can tell the owner when a player is over rated and not worth the pay, or whether a player is under rated, or definitely worth the investment to give a new contract to. And hopefully the new owners are smart enough to trust the expertise of the baseball people in identifying the right players for the team and give them the support necessary to acquire them.

[kidrock]

49 minutes ago, Aristotelian said:

I came here to say the same. Definitely top 3 in the last 30 years. There is Delmon's double, the 2012 wild card, and then today.

This totally makes the offseason too.

That double.  Man it was great.

 

[interloper]

I would absolutely take this as our big offseason move.

[LA2]

Ghiroli at The Athletic on the sale:

https://theathletic.com/5239665/2024/01/30/orioles-sale-angelos-family/?source=user_shared_article

[TonySoprano]

Besides the AP, this has been independently confirmed by the Athletic https://theathletic.com/5239665/2024/01/30/orioles-sale-angelos-family and

the Baltimore Sun https://www.baltimoresun.com/2024/01/30/orioles-sale-david-rubenstein-angelos-family

Edited January 31 by TonySoprano

[blid]

2 hours ago, Warehouse said:

David Rubinstein on CNBC Squawk Box, 9/1/22:

“There’s no doubt that I feel I’m one of the few people in private equity that doesn’t own a sports team. All my friends bought sports teams and I said, ‘Look, your investors are not going to take you seriously by you diverting your attention to these sports teams.’ But I was wrong.” 

“It’s very difficult to buy a sports team and lose money. Some people have done it, but it’s very rare. In baseball and basketball, you make your money when you sell the team. In the NFL, you make your money all the time because it’s so profitable.”

“You’re going to see baseball teams, basketball teams and others combine in one company and ultimately, those companies will go public.”

“It’s not the highest profitability thing I hope to be doing in my investment career, but I do think that it’s not something I’m doing to lose money, if I do it.” 

Go to minute 34 in this podcast 

Don't like the sound of this.  Seems less like a Baltimore kid wanting to own the team and see it win than a billionaire who wants the status of owning a team to go with the monetary appreciation sports franchises tend to have.  Specifically says he won't be in it to lose money.

[Can_of_corn]

4 minutes ago, blid said:

Don't like the sound of this.  Seems less like a Baltimore kid wanting to own the team and see it win than a billionaire who wants the status of owning a team to go with the monetary appreciation sports franchises tend to have.  Specifically says he won't be in it to lose money.

Yea he also pointed out how hard it is to lose money.

Do any of us expect him to run a loss?

 

[LA2]

8 minutes ago, blid said:

Don't like the sound of this.  Seems less like a Baltimore kid wanting to own the team and see it win than a billionaire who wants the status of owning a team to go with the monetary appreciation sports franchises tend to have.  Specifically says he won't be in it to lose money.

Yes, rather disappointing as far as expressing love for the sport and the Oriole legacy. But we shall see--one can imagine how frenetic the last few days have been and that it's been all about money and power, not great Oriole moments.

[paulcoates]

John Angleos trying to sweep in and reneg on the deal....

[csgordos]

If you invest in the team, you can draw 2.5-3 million per year.  Add all the ancillary revenue and if they can develop the surrounding area.  Easily can spend to keep the team competitive and bring back the glory years of sustainable winning.  The “new Oriole way”.  

 

[One eyed Bird]

1 hour ago, SemperFi said:

Peter was a pariah among owners-his business, his beliefs, and his politics were very different than the old school owners.  He was never accepted as part of the fraternity. 

Guess the other owners didn’t really care for low life ambulance chasing scum bag lawyers?

[bpilktree]

1 hour ago, George Zuverink said:

Many forget he was one of the few owners who didn’t use scabs during the players’ strike the year after he bought the team. He also spent a ton on FAs at one point. He could have had  a wonderful legacy instead of being regarded as Mr. Burns’ role model. When did he turn to the Dark Side and why.

I would think it was the MASN deal with the Nationals.  We were still in top half of payroll up til like 2017.  I am sure that legal fight caused a lot of issues and then the issues with the league not liking him even taking away ALl Star game from Camden Yards.   His law firm also lost a lot of money around that time.  

[LookinUp]

I appreciate John Angelos for the rebuild and preparing this team for sale. I suspect his brother suing helped that process too. Either way, when this deal is final, the Orioles will be in the best position of my life.

[Can_of_corn]

9 minutes ago, csgordos said:

If you invest in the team, you can draw 2.5-3 million per year.  Add all the ancillary revenue and if they can develop the surrounding area.  Easily can spend to keep the team competitive and bring back the glory years of sustainable winning.  The “new Oriole way”.  

 

I don't see 3M as a realistic goal these days.  They haven't hit 2.5 in close to 20 years and the environment has changed.

[Chavez Ravine]

When will I be able to buy a parking lot condo?