Orioles sale approved by owners’ committee, key step toward finalization

Baltimore — According to a person with firsthand knowledge of the situation, the MLB Ownership Committee has approved David Rubenstein’s group’s purchase of a controlling position in the Baltimore Orioles.

This approval was an important milestone in the selling process. The deal will now be put to a vote among all MLB owners, which is the final stage before it is formalized. It will require the permission of at least 22 of the remaining 29 owners.

Rubenstein and his group, which includes Orioles icon Cal Ripken Jr. and billionaire Michael Bloomberg, agreed to buy 40% of the team from John Angelos in January. The deal

What's happening to David Rubenstein's panda habitat at the National Zoo - Axios Washington D.C.

The franchise is valued at $1.725 billion. Angelos will keep a 30% ownership and serve as a senior advisor.

Read more at The Baltimore Banner.

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