Puck News: Orioles sold to Rubenstein

[Frobby]

I didn’t want to post this in the thread about Peter Angelos’ passing, but I am glad there won’t be a need for an interim period where David Rubenstein is the “control person” but the Angelos family still has a 30% stake in the team.  This will make it that much easier for Rubenstein to run the team as he sees fit without worrying about the Angelos family’s interests.  

[Satyr3206]

From what I have read, including an article on the Sun website, the original deal is going to close as is. Buying the remainder of the Angelos holdings will be in the future.

[Obando]

5 hours ago, Satyr3206 said:

I saw a tweet last night from a reporter saying the vote would be this week. I was half asleep but I will try to find it.

My understanding from someone in the know is that the owners’ vote to approve the sale will take place on or before Wednesday, but that it will be made official on Wednesday, just in time for Opening Day.  Don’t kill the messenger if it doesn’t happen, but that is what I was told.  

[ThisIsBirdland]

54 minutes ago, Obando said:

My understanding from someone in the know is that the owners’ vote to approve the sale will take place on or before Wednesday, but that it will be made official on Wednesday, just in time for Opening Day.  Don’t kill the messenger if it doesn’t happen, but that is what I was told.  

Not that Bowden is a reliable source on anything but your story would track with what he posted this morning:

 

[Billy F-Face3]

22 minutes ago, ThisIsBirdland said:

Not that Bowden is a reliable source on anything but your story would track with what he posted this morning:

 

Both of those things would be good for the Orioles if we can't, or aren't, in the running to acquire Montgomery's services.

[spleen1015]

https://theathletic.com/5367082/2024/03/25/mlb-owners-vote-rubenstein-orioles/

It's been said a few times over the last few days, but here's an article that talks about it.

Come Opening Day, David Rubenstein is expected to officially be the owner of the Baltimore Orioles.

Major League Baseball’s owners are scheduled to vote Wednesday on Rubenstein’s purchase of the team, people briefed on the process told The Athletic. Approval is a formality, but as late as last month, it wasn’t clear if the process would move fast enough for a vote to be held before the season began.

[Satyr3206]

1 minute ago, spleen1015 said:

https://theathletic.com/5367082/2024/03/25/mlb-owners-vote-rubenstein-orioles/

It's been said a few times over the last few days, but here's an article that talks about it.

Come Opening Day, David Rubenstein is expected to officially be the owner of the Baltimore Orioles.

Major League Baseball’s owners are scheduled to vote Wednesday on Rubenstein’s purchase of the team, people briefed on the process told The Athletic. Approval is a formality, but as late as last month, it wasn’t clear if the process would move fast enough for a vote to be held before the season began.

Hurry up Wednesday!

[Orioles Jim]

I’m loving the Rubenstein era already

[Sports Guy]

1 minute ago, Orioles Jim said:

I’m loving the Rubenstein era already

Because of a crappy beer?

[Sports Guy]

14 minutes ago, spleen1015 said:

https://theathletic.com/5367082/2024/03/25/mlb-owners-vote-rubenstein-orioles/

It's been said a few times over the last few days, but here's an article that talks about it.

Come Opening Day, David Rubenstein is expected to officially be the owner of the Baltimore Orioles.

Major League Baseball’s owners are scheduled to vote Wednesday on Rubenstein’s purchase of the team, people briefed on the process told The Athletic. Approval is a formality, but as late as last month, it wasn’t clear if the process would move fast enough for a vote to be held before the season began.

LFG!

Get this damn family as far away from this team as possible..and as quickly as possible.

[Sports Guy]

From that article:

Rubenstein is to become the team’s lead owner, or “control person,” in baseball parlance. He and his ownership group will have a 40 percent stake in the team to begin the season. Following the death of former owner Peter Angelos on Saturday, Rubenstein and co. are soon to likely acquire a larger stake in the team: the remainder of the 70 percent the Angelos family owned. The second acquisition will not be completed by Opening Day, a person briefed on the process said.

[interloper]

4 minutes ago, Sports Guy said:

From that article:

Rubenstein is to become the team’s lead owner, or “control person,” in baseball parlance. He and his ownership group will have a 40 percent stake in the team to begin the season. Following the death of former owner Peter Angelos on Saturday, Rubenstein and co. are soon to likely acquire a larger stake in the team: the remainder of the 70 percent the Angelos family owned. The second acquisition will not be completed by Opening Day, a person briefed on the process said.

My question is does Angelos remain as an investor/consultant even after Rubenstein grabs the 70 percent?

Edited March 25 by interloper

[Satyr3206]

4 minutes ago, Sports Guy said:

From that article:

Rubenstein is to become the team’s lead owner, or “control person,” in baseball parlance. He and his ownership group will have a 40 percent stake in the team to begin the season. Following the death of former owner Peter Angelos on Saturday, Rubenstein and co. are soon to likely acquire a larger stake in the team: the remainder of the 70 percent the Angelos family owned. The second acquisition will not be completed by Opening Day, a person briefed on the process said.

I assume Rubenstein will have the voting rights of the Minority Owners? I really don't know how that works with Sports Franchises.

[Sports Guy]

Just now, Satyr3206 said:

I assume Rubenstein will have the voting rights of the Minority Owners? I really don't know how that works with Sports Franchises.

He will be majority, so I assume so.

[Sports Guy]

1 minute ago, interloper said:

My question is does Angelos remain as an investor/consultant even after Rubenstein grabs the 70 percent?

Why would he? What’s he going to consult on? How to steal from fans?