Puck News: Orioles sold to Rubenstein

[Bemorewins]

4 minutes ago, TradeAngelos said:

This team could be straight up dominate year after year for the next 5 if the right pieces are added around what we have now. Rubenstein knows this I am sure. He could not have walked into a better situation. Time to maximize all of that. The next 3 years will set the stage for the next 30. 

It doesn't just have to be for the next 5 if we play our cards right. The incoming owners Rubenstien and Arougheti are worth more combined than all but TWO owners in the sport. They can and probably most realistically will extend some stars for the long term. If you combine deep pockets along with bright minds, we may be on to some serious greatness for a decade.

[SemperFi]

12 minutes ago, Roll Tide said:

 

"Though the MLB approval of the Orioles sale is not on the docket for the sport's owners meetings next week, there have been numerous examples in baseball's history when an outgoing ownership has gotten winks and nods from the incoming owners to make deals, even before formal approval is given"

[sportsfan8703]

7 minutes ago, NCRaven said:

I find it incredibly amusing that a politician is complaining about Angelos lying.  The State got fairly ironclad 15 year agreement with the Orioles (the same 15 years that the Ravens signed for).  Clearly, they are not going to give up development rights now, unless Rubenstein wants to pursue that, but who cares?  Politicians are only happy when they get to see their names in the papers.  Especially ones in an obscure position like State Treasurer.  Most people have no clue what the Comptroller or Treasurer do.

Exactly. This dude Hayes Gardner is the person that’s listed on my paycheck stub as “MD State Taxes”. Good. I hope JA ruined his day. 

[ThisIsBirdland]

WSJ out with their story on the sale:

https://www.wsj.com/sports/baseball/baltimore-orioles-sale-david-rubenstein-angelos-f6f82943

They go on to draw a pretty direct comparison to Cohen. They're certainly leaning hard into the narrative that he's buying to build it into something.

Now, after numerous false starts, he is on the verge of taking control of the team he has always coveted—the local boy made good, returning home to become the steward of the local franchise. Rubenstein’s investment partners include Ares Management CEO Michael Arougheti, Orioles legend Cal Ripken Jr., former New York mayor Michael Bloomberg, retired NBA star Grant Hill and former Baltimore mayor Kurt Schmoke, people familiar with the matter said. The deal also includes the Orioles’ majority share of the Mid-Atlantic Sports Network, the regional sports channel that broadcasts the Orioles and the Nationals.  

He arrives at a particularly exciting moment. After years of ineptitude, the Orioles defied expectations last season by finishing with the best record in the American League. They have a roster loaded with burgeoning young stars like Adley Rutschman and Gunnar Henderson and a farm system filled with heralded prospects for the future. They will enter 2024 saddled with expectations and brimming with potential, as they set their sights on reaching the World Series for the first time since 1983.

That will happen as the Orioles transition from an Angelos family heirloom to the prized jewel of a private-equity billionaire who has made it a point to spend his money during his lifetime. 

[Going Underground]

4 minutes ago, sportsfan8703 said:

Exactly. This dude Hayes Gardner is the person that’s listed on my paycheck stub as “MD State Taxes”. Good. I hope JA ruined his day. 

The Baltimore Sun writer?

[24fps]

10 minutes ago, SemperFi said:

"Though the MLB approval of the Orioles sale is not on the docket for the sport's owners meetings next week, there have been numerous examples in baseball's history when an outgoing ownership has gotten winks and nods from the incoming owners to make deals, even before formal approval is given"

Even so, I think I would wait until formal approval before making any substantial commitments which is why I'm skeptical about the sale having any immediate impact.  I can't tell you how much I would like to be wrong about that.

[Bemorewins]

9 minutes ago, ThisIsBirdland said:

WSJ out with their story on the sale:

https://www.wsj.com/sports/baseball/baltimore-orioles-sale-david-rubenstein-angelos-f6f82943

They go on to draw a pretty direct comparison to Cohen. They're certainly leaning hard into the narrative that he's buying to build it into something.

Now, after numerous false starts, he is on the verge of taking control of the team he has always coveted—the local boy made good, returning home to become the steward of the local franchise. Rubenstein’s investment partners include Ares Management CEO Michael Arougheti, Orioles legend Cal Ripken Jr., former New York mayor Michael Bloomberg, retired NBA star Grant Hill and former Baltimore mayor Kurt Schmoke, people familiar with the matter said. The deal also includes the Orioles’ majority share of the Mid-Atlantic Sports Network, the regional sports channel that broadcasts the Orioles and the Nationals.  

He arrives at a particularly exciting moment. After years of ineptitude, the Orioles defied expectations last season by finishing with the best record in the American League. They have a roster loaded with burgeoning young stars like Adley Rutschman and Gunnar Henderson and a farm system filled with heralded prospects for the future. They will enter 2024 saddled with expectations and brimming with potential, as they set their sights on reaching the World Series for the first time since 1983.

That will happen as the Orioles transition from an Angelos family heirloom to the prized jewel of a private-equity billionaire who has made it a point to spend his money during his lifetime. 

The bolded portion is the most encouraging part of this article. I know some fans are protecting themselves from the positives and don't want to believe it, but this is a dream scenario. People keep saying Peter Angelos had a similar profile in 1993 when he came in. But you know what he didn't have? - A Mike Elias, a Sig Megdal and a roster and organization bursting with young stars. Plus look at the list of names that are investing with him some of which have crazy deep pockets (Bloomberg), some of which have local ties and great credibility.

[TradeAngelos]

3 minutes ago, Bemorewins said:

The bolded portion is the most encouraging part of this article. I know some fans are protecting themselves from the positives and don't want to believe it, but this is a dream scenario. People keep saying Peter Angelos had a similar profile in 1993 when he came in. But you know what he didn't have? - A Mike Elias, a Sig Megdal and a roster and organization bursting with young stars. Plus look at the list of names that are investing with him some of which have crazy deep pockets (Bloomberg), some of which have local ties and great credibility.

FACTS!

[wse120372]

35 minutes ago, Roll Tide said:

Everybody that has any level of intelligence knows John Angelos is full of Shite! And he’s a Liar ….Oops meant Lawyer. Only a politician would be dumb enough to believe he was being honest. 
 

 

Lawyer is too good a word.... did he even pass the bar?

[ThisIsBirdland]

I am genuinely unaware and curious about how the timing issues will work out here. With the valuation and sale price determined, can Angelos even sign off on moves of consequence (or any additional moves)? Is he on the hook for any money that goes out the door for the rest of the off-season until this is finalized, or would such expenditures transfer to new ownership? I imagine he'll put a hold on any additional moves until the money would be coming out of the new Ownership group's pockets.

[interloper]

Just now, ThisIsBirdland said:

I am genuinely unaware and curious about how the timing issues will work out here. With the valuation and sale price determined, can Angelos even sign off on moves of consequence (or any additional moves)? Is he on the hook for any money that goes out the door for the rest of the off-season until this is finalized, or would such expenditures transfer to new ownership? I imagine he'll put a hold on any additional moves until the money would be coming out of the new Ownership group's pockets.

Curious about all this, too. They did sign a minor league arm yesterday though, so maybe small moves like that are fine. 

[btdart20]

[deward]

25 minutes ago, ThisIsBirdland said:

WSJ out with their story on the sale:

https://www.wsj.com/sports/baseball/baltimore-orioles-sale-david-rubenstein-angelos-f6f82943

They go on to draw a pretty direct comparison to Cohen. They're certainly leaning hard into the narrative that he's buying to build it into something.

Now, after numerous false starts, he is on the verge of taking control of the team he has always coveted—the local boy made good, returning home to become the steward of the local franchise. Rubenstein’s investment partners include Ares Management CEO Michael Arougheti, Orioles legend Cal Ripken Jr., former New York mayor Michael Bloomberg, retired NBA star Grant Hill and former Baltimore mayor Kurt Schmoke, people familiar with the matter said. The deal also includes the Orioles’ majority share of the Mid-Atlantic Sports Network, the regional sports channel that broadcasts the Orioles and the Nationals.  

He arrives at a particularly exciting moment. After years of ineptitude, the Orioles defied expectations last season by finishing with the best record in the American League. They have a roster loaded with burgeoning young stars like Adley Rutschman and Gunnar Henderson and a farm system filled with heralded prospects for the future. They will enter 2024 saddled with expectations and brimming with potential, as they set their sights on reaching the World Series for the first time since 1983.

That will happen as the Orioles transition from an Angelos family heirloom to the prized jewel of a private-equity billionaire who has made it a point to spend his money during his lifetime. 

Bloomberg is involved? Yuck.

[TradeAngelos]

1 minute ago, interloper said:

Curious about all this, too. They did sign a minor league arm yesterday though, so maybe small moves like that are fine. 

If we assume this will be finalized and control goes to Rubenstein before season starts, any financial implications for the upcoming season will be null and void. No one starts cashing checks until they start playing the games. Not that anything major is happening anyway.

[Bemorewins]

6 minutes ago, deward said:

Bloomberg is involved? Yuck.

He has money and lots of it. Am I missing something here? I don't care about anything else as nothing else about him is relevant to the O's. He will not be the face of the franchise, just a solid silent investor.