Puck News: Orioles sold to Rubenstein

[OriolesMagic83]

15 minutes ago, interloper said:

From the Banner:

What do we think about Angelos remaining a senior advisor - do we think that's indefinite, or until PA dies and Rubenstein is full majority owner, or some other scenario? 

I am impatient to fully rid the family from making any senior level decisions. 

John Angelos can be senior advisor, as long as Elias/the new ownership doesn't have to take his advice.  If I was Rubinstein, I would place Angelos in charge of something that takes up a ton of time and keeps him out of the office so he doesn't have to hear John's whiny voice. 

[CompuCoach]

1 hour ago, accinfo said:

Rubenstein is a Duke graduate so not shocking Grant Hill would be involved.  Grant is one of the real good guys.  

Grant is from Northern VA (Reston). Might have grown up as an Orioles fan, as DC had no team back then. 

[Frobby]

1 hour ago, Going Underground said:

How can Rubenstein have power if the sale of the Orioles hasn't been approved?

He can’t.  End of story. 

[interloper]

1 minute ago, Frobby said:

He can’t.  End of story. 

Yeah. The statements are a nice confirmation that this is really, truly real. But nothing changes until at least early spring. Johnny is still running the show.

[Frobby]

1 hour ago, interloper said:

Angelos is gonna try to tie his name to this group for as long as possible, huh. 

Well, the Angelos family will be in until Peter dies, and JA does have a lot of historical knowledge about the business that will be helpful.  It’s pretty typical for the seller of a business to have a consulting role for a while for that reason.  I’m just glad Rubinstein will be the control person even before PA passes away.  

[Ripken]

5 minutes ago, Frobby said:

He can’t.  End of story. 

Sure.  On the other hand, it doesn't stop the team from extending Gunnar or signing Montgomery tomorrow either.  If Dave will pay for it, Elias can do it.

[Satyr3206]

I noticed in the statement Rubenstein said bring "a" World Series Trophy back to Baltimore. Aim higher.

[ThisIsBirdland]

MLBTR Summary

https://www.mlbtraderumors.com/2024/01/orioles-confirm-agreement-to-sell-control-stake-of-franchise-to-group-led-by-david-rubenstein.html
 

The sale of the majority share in the Orioles is still subject to review and approval from the remaining 29 owners in Major League Baseball. A formal vote is expected to take place next week at the quarterly MLB owners meetings.

[TonySoprano]

1 hour ago, drjohnnyfever1 said:

I eagerly await the Brit Giroli and Dan Connolly pieces about Angelos Ownership years.  I really can't wait.

Buster Olney has already gone down memory lane

https://www.espn.com/mlb/insider/story/_/id/39429359/baltimore-orioles-sale-new-owners-david-rubenstein-peter-angelos

The turning point in his ownership seemed to occur in the summer of 1996, as an Orioles team with great expectations struggled for four months. Pat Gillick, regarded as one of the most adept general managers in baseball history, recommended to Angelos to trade away players such as Bobby Bonilla and David Wells -- and Angelos, believing he had an obligation to field a competitive team for the daily Camden Yards sellouts, rejected the idea. Lo and behold, the Orioles rallied, made the playoffs and nearly reached the World Series -- and thereafter, Angelos never really believed the advice of his baseball executives, especially not if they conflicted with his own thinly based baseball instincts. He sometimes required his general managers to wait hours for him at his law firm while he did other business -- including conversations with reporters. "The experts," he would call his executives in conversation, with more than a hint of mockery.

Gillick eventually departed, and other general managers and managers would come and go. From 1998 to 2011, the Orioles failed to reach the postseason, attendance plummeted, and even after a short stretch of revitalization under manager Buck Showalter, the franchise continued to sink in its relevance, increasingly overshadowed in the D.C.-area market by the Washington Nationals, who won the World Series in 2019.

[Roll Tide]

14 minutes ago, ThisIsBirdland said:

MLBTR Summary

https://www.mlbtraderumors.com/2024/01/orioles-confirm-agreement-to-sell-control-stake-of-franchise-to-group-led-by-david-rubenstein.html
 

The sale of the majority share in the Orioles is still subject to review and approval from the remaining 29 owners in Major League Baseball. A formal vote is expected to take place next week at the quarterly MLB owners meetings.

Which means it’s already been in the works for a while.

[eddie83]

9 minutes ago, Roll Tide said:

Which means it’s already been in the works for a while.

Yep. No way are these official statements coming out without MLB’s knowledge and approval.  

[ThisIsBirdland]

I think it’s prudent to assume Rubenstein takes a wait and see approach. But if this thing really is wrapped up next week as MLBTR suggests it will be, I’m not so sure there couldn’t be an impact on how the rest of this offseason plays out. 

[interloper]

Just now, ThisIsBirdland said:

I think it’s prudent to assume Rubenstein takes a wait and see approach. But if this thing really is wrapped up next week as MLBTR suggests it will be, I’m not so sure there couldn’t be an impact on how the rest of this offseason plays out. 

Right now some places are saying next week (really only MLBTR), but most are saying it'll be the next owners' meeting in the summer. Both seem roughly as likely to me. On the one hand, this has clearly been in the works for some time and the vetting process may already basically be done. On the other hand, it's old billionaires and everything could take forever. 

[Just Regular]

Fun to see Kurt Schmoke get a WSJ mention.     A City and Yale man, he can perhaps provide Rubenstein and Elias some breaking the ice conversation topics.

Schmoke and Rubenstein were born a few months apart, so I think fair guess they've at least known of each other since high school.

Palmam Qui Meruit Ferat!

[Remember The Alomar]

12 minutes ago, interloper said:

Right now some places are saying next week (really only MLBTR), but most are saying it'll be the next owners' meeting in the summer. Both seem roughly as likely to me. On the one hand, this has clearly been in the works for some time and the vetting process may already basically be done. On the other hand, it's old billionaires and everything could take forever. 

There was a Banner piece that mentioned late spring as a possibility as well.