MLB Ownership Committee Approves Sale of Orioles to David Rubenstein

The sale, valued at $1.725 billion, moves closer to completion with the next steps being the executive council's approval and a final ownership vote.

Major League Baseball's ownership committee has unanimously approved the sale of the Baltimore Orioles to private equity billionaire David Rubenstein.
The sale from the Angelos family to Rubenstein's group is valued at $1.725 billion, marking a significant increase from the $173 million purchase price in 1993.
The approval process now moves to the MLB's executive council, and if successful, will require a final vote by 75% of all owners to finalize the sale.
Rubenstein's investor group includes notable figures such as Orioles legend Cal Ripken Jr., former New York mayor Michael Bloomberg, and NBA Hall of Famer Grant Hill.
The sale agreement includes a commitment to keep the Orioles in Baltimore for at least 15 more years, following a recent lease agreement with the state of Maryland.