In what was a historic transaction for the Baltimore Orioles and their fans, new owner David Rubenstein is getting close to owning a massive majority of the team.
The continued lack of resources being put into the team left the Orioles largely unable to compete in their division against the cash-heavyOnce rumors started circulating that the Angelos family was looking to potentially sell this franchise, Baltimore native David Rubenstein was seen as a logical fit.
Once Peter Angelos passed away in March, things really jumpstarted into motion after the initial plan was to be a slow acquisition."The partnership led by David Rubenstein will own about 97% of the Orioles when it completes the sale's second phase in a transaction that could occur as soon as the end of May, according to the private equity billionaire," reports
Rubenstein will own the majority of shares as he's officially listed as Baltimore's "control person," meaning he's accountable for the ballclub.
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