Like
463
Wow
14
Fire
6
Celebrate
5
Laugh
2
Interesting
2
John Angelos has agreed to sell the Baltimore Orioles to a group led by Carlyle Group Inc. co-founder David Rubenstein, according to multiple reports on Tuesday.
The transaction reportedly values the Orioles at $1.725 billion.
Rubenstein, a Baltimore native, reportedly will take over as the team's controlling owner. He has assembled an investment team that includes Ares co-founder Michael Arougheti.
Major League Baseball still must approve the sale.