Angelos family selling Baltimore Orioles to David Rubenstein and Mike Arougheti, team valued at 1.725 billion

[MMC]

Click to read more...

 

[LadyStanley]

Orioles reportedly in talks to sell team to billionaire Baltimore native David Rubenstein

The Orioles might be under new ownership in 2024.

sports.yahoo.com

Yahoo story

Rubinstein is Baltimore local

 

[Random schmoe]

There's no way a full sale is coming before Peter Angelos' death, the taxes on the team's value gain would be killer, likely around $200M in taxes alone. Whereas if they wait until he dies, the cost basis for his beneficiaries becomes the fair market value as of the day he died.

 

[eojsmada]

There's no way a full sale is coming before Peter Angelos' death, the taxes on the team's value gain would be killer, likely around $200M in taxes alone. Whereas if they wait until he dies, the cost basis for his beneficiaries becomes the fair market value as of the day he died.

Unless it's held in the estate and not paid out until he dies.

 

[MMC]

 

[Random schmoe]

There's no way a full sale is coming before Peter Angelos' death, the taxes on the team's value gain would be killer, likely around $200M in taxes alone. Whereas if they wait until he dies, the cost basis for his beneficiaries becomes the fair market value as of the day he died.

Shows what I know.

I guess the family is following Peter's wishes that they sell the team so his wife can live comfortably. I had just assumed they'd wait until he died.

 

[Mightygoose]

Long term lease extension got finalized last month after a long series of talks.

Local is good.

 

[Random schmoe]

Good details here from a reporter who would know, has confirmed good sources.

Main points is that they're only selling 40% now, but Rubenstein will become the control person. The remainder to be sold upon Peter Angelos' death. So I guess I wasn't totally wrong about the capital gains taxes and 'a full sale'.

John Angelos agrees to sell Orioles

Baltimore native David Rubenstein would become the team control person as the lead investor in a group that also includes Maryland sports legends.

www.thebaltimorebanner.com

 

[LadyStanley]

Angelos family agrees to sell Baltimore Orioles to 2 billionaires at $1.725 billion valuation, per reports

Peter Angelos led a group that bought the Orioles for $173 million in 1993.

sports.yahoo.com

$1.75b valuation.

Originally purchased in 1993 for $40m

 

[oknazevad]

Talk about a handsome return...

 

[Voight]

Angelos didn't have the greatest rep as owner so we'll see how these guys do.