Puck News: Orioles sold to Rubenstein

[Guest]

Just now, wildcard said:

Rubenstein and his partner have a combined net worth of 5.5B.    That sounds like a lot until we consider that Steve Cohen's net worth in 19B.     Elias still has to out smart the big boys.

This would put us in the ballpark of every other owner except Cohen and Rogers

[brvn52]

What is the fastest (realistic) timeframe for this all to go through? Are we talking a few weeks or a few months?

[Frobby]

3 minutes ago, Tony-OH said:

The only way JA would do that is if he thinks it will help his legacy or should I say his family's legacy of ownership. If the Orioles win the World Series this year, he could still claim credit. 

So thinking that maybe he would allow them to sign a Snell or Montgomery.

To be clear, I’m not expecting any big change in how the rest of the 2024 offseason goes.  But it could change things as the next few seasons progress.  

[Roll Tide]

 

[emmett16]

1 hour ago, Moose Milligan said:

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

The dude from The Real World. 

[spleen1015]

I think JA didn't like how the lease worked out, ie. he won't make billions fleecing the city/state, so he said screw it and sold to get a billion.

[SteveA]

So I imagine this will take some time to become official.  Is there any way Peter Angelos' death could somehow slow things down if it happens?

I mean right now, I imagine whoever has power of attorney over his holdings (his wife?) would be the one to sign off on a sale.   But if he passes, suddenly would his entire estate be in probate for some period of time?   Would it be possible for the sale of part of that estate to be sold, or the sale being finalized, during that probate period?

When my mother passed away a year ago, I was administrator of her estate, (which was a bit smaller than Angelos's).   But I had to open up an estate account and move her $$$ into it and I could not distribute the money until 6 months after the filing of the will.

[Roll Tide]

 

[Nite]

1 minute ago, SteveA said:

So I imagine this will take some time to become official.  Is there any way Peter Angelos' death could somehow slow things down if it happens?

I mean right now, I imagine whoever has power of attorney over his holdings (his wife?) would be the one to sign off on a sale.   But if he passes, suddenly would his entire estate be in probate for some period of time?   Would it be possible for the sale of part of that estate to be sold, or the sale being finalized, during that probate period?

When my mother passed away a year ago, I was administrator of her estate, (which was a bit smaller than Angelos's).   But I had to open up an estate account and move her $$$ into it and I could not distribute the money until 6 months after the filing of the will.

I just read that the group is acquiring a 40% stake initially and after Peter's death will purchase the remaining parts of what Angelos controls. According to the NY Post.

[eddie83]

 

[TradeAngelos]

Am I dreaming? Have to be.

So who is first up for an extension? I might need one of those before I really believe. 

[Can_of_corn]

8 minutes ago, brooooksy said:

This would put us in the ballpark of every other owner except Cohen and Rogers

Guggenheim Partners.

[Moose Milligan]

11 minutes ago, Tony-OH said:

Aren't you the guy who hates Rubenstein because he liquidated a company you were part of or am I thinking of someone else?

I think that was Pickles 

[24fps]

17 minutes ago, Moose Milligan said:

Getting rid of Dan Snyder and Angelos within a year of each other is truly unbelievable. This is all I’ve really wanted as a fan from both teams for a very long time. You can win multiple championships but you can only get rid of a truly terrible owner that’s had a 20 or 30 year chokehold on your favorite team once. 
 

Bright days ahead, guys. I’m gonna crack a beer now. 

I'm on my third.

[OriolesMagic83]

12 minutes ago, wildcard said:

Rubenstein and his partner have a combined net worth of 5.5B.    That sounds like a lot until we consider that Steve Cohen's net worth in 19B.     Elias still has to out smart the big boys.

No one is spending on the level of Mets except the Dodgers and maybe the Yankees.  I think the vast majority of us would be happy if the O's had an average MLB payroll--$150-180 mill.