- Baltimore-native David Rubenstein will be controlling owner
- Orioles legend Cal Ripken Jr part of investment group
Carlyle Group Inc. co-founder David Rubenstein has reached an agreement to buy the Baltimore Orioles for $1.725bn, a source told the Associated Press.
If the deal is approved by Major League Baseball, Rubenstein, a Baltimore native, would take over as the team’s controlling owner. He has assembled an investment team that includes Ares co-founder Michael Arougheti.
