Puck News: Orioles sold to Rubenstein

[Keygans]

1 minute ago, Ohfan67 said:

People often choose/hire people that look, talk, think, etc., like they do. It's super common and rich and successful business people do this too. There's a good chance that how well the new owners and Elias "click" will be very important. Again, I am not trying to be super negative, just pointing out that these things happen pretty frequently. 

This is an incredibly accurate point.    However, I am making an educated guess based on something I heard that Rubenstein and Elias have had conversations and both appear to be on the same page at least out of the gate . 

[Gurgi]

10 minutes ago, LTO's said:

"David Rubenstein, the billionaire Maryland resident who is leading the purchase of the team, has, however, been “actively communicating with the governor,” a source said, including Tuesday night when the news of the sale broke."

 

https://www.thebaltimorebanner.com/politics-power/state-government/orioles-sale-john-angelos-wes-moore-VKLLQWUBANBF7HRTLPQWXPGHLU/

This must be a done deal if Rubenstein is on the phone with the Gov.   Seems like this is money in the bank. 

[SemperFi]

24 minutes ago, Ohfan67 said:

Everyone seems to assume that the new owners will happily keep Elias et al. They may want their "own" person after a year or so. That definitely happens frequently. 

Elias is the "best and the brightest" right now-he was one of the attractive selling points for the franchise.  There is a chance their visions don't align but I think it breaks the other way-that ME finally has the long term financial support he needs to do his job. 

[LA2]

23 minutes ago, 24fps said:

I don't either.  I think it's stay the course until 2025.

You don't think it could be just until July 2024?

[dystopia]

25 minutes ago, Ohfan67 said:

I'm not mad and not necessarily worried, but new owners do often bring in "their" person. Some of the new owners who want to make an immediate splash have brought in "established" GM's. I certainly hope that the new owners keep Elias, but I think that GM turnover happens with a year or two more than 50% of the time. That's just being realistic, not pessimistic. 

You’re not wrong, but getting rid of Elias seems like a poor way to make a first impression with the fanbase. 

[OsFanSinceThe80s]

2 minutes ago, SemperFi said:

Elias is the "best and the brightest" right now-he was one of the attractive selling points for the franchise.  There is a chance their visions don't align but I think it breaks the other way-that ME finally has the long term financial support he needs to do his job. 

Rubenstein at his age should only have one interest in buying the Orioles and that's to win the World Series. Mike Elias has already done the hard part in building a top notch farm system and winning team.

To get the Orioles over the top it's going to take some trades and key free agent signings hopefully that's where Rubenstein will step in to provide financial backing.

There's a real shot now at signing some of the Orioles younger players to contract extensions. That was never going to happen under Angelos.

[24fps]

4 minutes ago, LA2 said:

You don't think it could be just until July 2024?

That would be nice, but there are enough moving parts to where I wouldn't bet on it.  I hope I'm wrong and the sale happens quickly with full support of the other owners.

[LTO's]

7 minutes ago, Gurgi said:

This must be a done deal if Rubenstein is on the phone with the Gov.   Seems like this is money in the bank. 

It's a done deal. I mean you'd hope the Governor wouldn't be publicly congratulating these guys off a rumor. 

 

"Moore expressed optimism on Wednesday during his first public remarks about the deal. He opened a meeting of the state Board of Public Works in Annapolis by congratulating Rubenstein, Arougheti and Ripken.

“We are very much looking forward to a continuation of the strong relationship between the state of Maryland and the Baltimore Orioles,” said Moore, who wore an orange striped tie.

Moore highlighted the lease deal that the Orioles and the state finally negotiated and signed in December. Though the deal was struck with Angelos, it is binding on any subsequent owners of the team.

“We’re thrilled because being able to keep the Orioles in Baltimore for a long period of time was a key priority for this administration and this team,” Moore said. “And we are very proud that the deal that this group solidified months ago means that regardless of this transaction, this will never change. These are the Baltimore Orioles and they are going nowhere.”

[SemperFi]

38 minutes ago, 24fps said:

I suspect that PA's condition is having a large impact on the timing of all this.

I agree-lost in all this excitement is the motivation for the sale now with PA still alive.

$1.7b X .40= $680m X .40? (tax burden) =$272m why would JA leave all that on the table?  You may argue the % of tax burden but that's a LOT of money that could be had for just a little patience.

[Can_of_corn]

2 minutes ago, OsFanSinceThe80s said:

Rubenstein at his age should only have one interest in buying the Orioles and that's to win the World Series. Mike Elias has already done the hard part in building a top notch farm system and winning team.

To get the Orioles over the top it's going to take some trades and key free agent signings hopefully that's where Rubenstein will step in to provide financial backing.

There's a real shot now at signing some of the Orioles younger players to contract extensions. That was never going to happen under Angelos.

https://www.forbes.com/sites/johnmauldin/2016/05/03/the-richest-live-14-6-years-longer-and-the-gap-is-growing/?sh=13e8774951da

 

Quote

Among men, the richest 1% live an average of 14.6 years longer than the poorest 1%. The wealthiest women live 10.1 years longer than the poorest.

 

[TradeAngelos]

5 minutes ago, Ohfan67 said:

People often choose/hire people that look, talk, think, etc., like they do. It's super common and rich and successful business people do this too. There's a good chance that how well the new owners and Elias "click" will be very important. Again, I am not trying to be super negative, just pointing out that these things happen pretty frequently. 

"Super common"........these are recent sales of professional sports franchises......

Broncos recently sold, kept GM

Suns sold recently, gave GM a new multi year extension

Commanders replaced GM, because the place was an absolute sh#$show previously and anyone with a brain would have cleaned house. 

Ottawa Senators sold, kept the GM ( he was fired for other transgressions later in the year, not related to new owners)

Carolina Panthers kept GM 

Brooklyn Nets kept GM. 

So actually NOT super common, or common at all. Just a tired false narrative actually. 

 

 

[Going Underground]

I don't think much will change this year. As for stadium improvements and input from the new owner. The MSA doesn't expect to hire contractors and developers till the second quarter of this year. Nothing will be changed before the end of the baseball season

[webbrick2010]

55 minutes ago, RVAOsFan said:

I see the Baltimore Banner just posted an article about the State being uninformed about the sale and feeling lied to.  Anyone with a subscription have anymore details?

It is a private transaction, it should not have been told to the govt before announced to the public. It is not the governments business who owns the Orioles, only that they have an obligation to the terms of the lease that they have signed

[Ripken]

Rubenstein is not going to get rid of Elias.  Good grief that's a bad talking point. 

[SemperFi]

25 minutes ago, Ohfan67 said:

People often choose/hire people that look, talk, think, etc., like they do. It's super common and rich and successful business people do this too. There's a good chance that how well the new owners and Elias "click" will be very important. Again, I am not trying to be super negative, just pointing out that these things happen pretty frequently. 

Understand your point however I can't think of a single thing new ownership could do to alienate the fan base more than replacing Elias.