The Orioles have turned the page to a new chapter, and they’re taking an invigorated fan base along with them.
Billionaire private equity investor and philanthropist David Rubenstein announced Wednesday that he’s agreed to buy the Orioles from the Angelos family in a deal that places the team’s valuation at $1.725 billion. Once he’s approved by MLB’s ownership committee and elected by an ownership vote, Rubenstein will be the Orioles’ new control person and chief financial backer.
As the news trickled out Tuesday night, Orioles fans across the region reacted with excitement as they attempted to grasp their sudden new reality.
“My immediate reaction was, yay, this is fabulous,” said Elise Saltzberg, 66, of Pikesville.
“I’m very excited that we’re going to have an owner that’s from Baltimore. I think he’s committed to making the team a success. Everything that David Rubenstein has touched in his life has been a success, so maybe this one will be, too.”
Rubenstein, who has a Forbes-measured net worth of $3.7 billion, said in a statement that he hopes to “bring a World Series Trophy back to the City of Baltimore,” affirming his commitment to the region. The Orioles in December signed a lease with that state guaranteeing they remain in Baltimore for at least 15 years (and potentially 30), and it included language stipulating that the team would remain at Camden Yards in the event of a sale.
Michael Hackworth, 30, of Fredericksburg, Virginia, was at his girlfriend’s birthday party when he heard the news. She had to share Hackworth’s attention with Rubenstein for the rest of the night.
“I feel bad for my girlfriend,” Hackworth said. “We’re having a nice birthday party and then all of a sudden my phone starts buzzing. This is the most excited I’ve felt about the Orioles since I was 10 years old and I’m more worried about ownership than my girlfriend’s birthday.”
But with this excitement comes expectations. Fans bemoaned the Angelos’ lack of spending, especially once it became clear the team had emerged from its rebuild to become a formidable club in the American League. Baltimore won 101 games and its division in 2023 before losing to the eventual World Series-champion Texas Rangers in the AL Division Series, all despite fielding the second-lowest payroll in the sport.
Now that the team has an owner with deeper pockets, fans expect Rubenstein to use them to build up the roster.
“I’m just excited to see a guy that’s not afraid to spend money,” Hackworth said. “I read that this guy spent millions of dollars on getting the Magna Carta back. So, if he’s going to spend millions on the Magna Carta, I don’t think he’s afraid to spend a couple millions on a starting pitcher.”
Saltzberg, a season ticket holder, garnered attention last season when she made signs that read “Sign him now” and handed them out to her entire section to hold up every time catcher Adley Rutschman came to the plate. Rutschman, reigning AL Rookie of the Year Gunnar Henderson and former top pitching prospect Grayson Rodriguez are all signed only to their rookie deals. Rubenstein will have the power to change that.
“Hopefully that with the new influx of new blood coming up through the farm system [that] they’re going to put some of that money to trying to hold or to keep key pieces in the organization instead of doing [fire sales]. I understand they can’t probably keep all of them but … I would like us to show some kind of faith in the guys,” said Kathy Glass, 55, of Hunt Valley.
The inclusion of Cal Ripken Jr. in Rubenstein’s ownership group hasn’t been lost on fans, either. Baltimore’s Hall of Fame shortstop became an active businessman in the area after his playing career but never formally took a position in the team’s front office or otherwise. Now, he’ll have the most influence he’s had on the outcome of an Orioles game since he stepped off the field for the final time in 2001.
“It’s wonderful to know he’s coming home as well,” said Lora Jones, 69, of Chase. “When they brought Eddie [Murray] and Brooks [Robinson] back in [2018], it was like, ‘Oh, come on, grab Cal too.’
“I’m really excited about Cal Ripken being part of it because to me that indicates that he’s really home. He really means it’s home.”