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Orioles’ ownership are reportedly selling the team for $1.725 billion, ending the reign of control person John Angelos. I’ll pause a moment for fans of the team to applaud. It can’t just be a straightforward deal, though, since this is the Orioles and Angelos we’re talking about. No, this is complicated, with multiple steps in the process, and oh, John Angelos and the rest of the family aren’t actually going anywhere yet. They’re merely selling a significant chunk of the team and handing over the day-to-day control to a new owner, billionaire David Rubenstein (who is buying the team alongside another wealthy individual, Michael Arougheti, and, per the Baltimore Banner, O’s legend Cal Ripken Jr. is part of the group as well).
Continue reading “Orioles reportedly selling, raking in public funds while avoiding paying taxes”