David Rubenstein, the co-founder of global investment firm Carlyle Group Inc., is in talks to purchase the Baltimore Orioles, sources told Bloomberg’s Gillian Tan.
Rubenstein is among suitors to buy the franchise, a source told Tan, but a deal has not been finalized and there’s still a chance talks could fall apart.
The financial heavyweight was born in Baltimore and has a reported net worth of $4.6 billion. He told “key backers” of the Orioles he would consider buying the team if it ever came up for sale, according to Tan.
Peter Angelos has owned the Orioles since purchasing the franchise from New York venture capitalist Eli Jacobs for $173 million in 1993.
Peter’s sons, John and Louis, have been in control of the club recently as their 94-year-old father’s health deteriorated.
Rumors have surrounded the future home of the Orioles and a potential sale in recent years. Louis sued John and Peter’s wife, Georgia, in 2022, and she filed a countersuit; the lawsuits were dropped last February following public battles over control of the family’s assets.
The Orioles won the American League East last season after a five-year rebuild that began in 2018 when they lost 115 games.