Orioles strike deal to sell team to Baltimore native David Rubenstein for $1.725B

The Angelos family has reached an agreement to sell the Orioles to private equity billionaire David Rubenstein, three sources with direct knowledge of the deal told The Baltimore Sun. Rubenstein, who has a signed agreement, according to one of the sources, is set to take over as the team’s control person as part of the deal, which values the team at $1.725 billion. The Angelos family has owned the team since Peter Angelos bought it for $173 million in 1993.