In a historic transition, the sale of the Baltimore Orioles to a high-profile ownership group led by David Rubenstein has been unanimously approved by Major League Baseball owners.
Rubenstein, the co-founder of private equity giant The Carlyle Group, is a Baltimore native and lifelong Orioles fan. He headlines an impressive consortium of investors, sports legends, business leaders and local luminaries:
- Cal Ripken Jr., Orioles Hall of Famer
- Michele Kang, owner of the Washington Spirit
- Former Baltimore Mayor Kurt Schmoke
- Basketball Hall of Famer Grant Hill
- Billionaire philanthropist Michael Bloomberg
- Prominent investors Bill Miller and Rick Rieder
- Local business leaders Greg Baroni, the Chen family, and Jason Reese
- Lifelong fans Kate Ramsdell and Lauren Tabak Fass
“To own the Orioles is a great civic duty,” Rubenstein stated. “On behalf of my fellow owners, I want Baltimore and Orioles fans everywhere to know we will work tirelessly with professionalism, integrity and a fierce desire to win.”
The new ownership takes the reins from John Angelos, who assumed control in 2019. During his tenure, Angelos overhauled the front office, secured a long-term lease keeping the team in Baltimore, reinvested in facilities, and laid the groundwork for the franchise’s next chapter.
“I thank John Angelos for bringing us to this point,” Rubenstein said. “Our job is to build on his accomplishments and advance a world-class vision – with eyes on returning a World Series trophy to Baltimore.”
The star-studded group has its sights set on restoring the iconic Orioles franchise to championship glory while driving new investment in the team and community.