Orioles hire investment bank to assess potential sale of team: reportOUS News

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The Baltimore Orioles hired Goldman Sachs to “assess the prospects of selling the team,” according to The Athletic.

The team is not officially up for sale, but given the drama within the current ownership group, the future of team ownership is certainly in the balance.

Signage at the warehouse outside Oriole Park at Camden Yards on August 7, 2022 in Baltimore.

Signage at the warehouse outside Oriole Park at Camden Yards on August 7, 2022 in Baltimore.
(Michelle Layton/Getty Images)

Owner Peter Angelos’ son Louis Angelos filed suit in June against his brother and mother, John and Georgia, to force the sale of the team.

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Louis argued in his suit that John sought to “seize control of his father’s property and put him out completely”, the suit says.

“The corrupting effect of John’s actions has been utterly disheartening [Louis] Angelos’ intentions,” the suit added. “John intends to retain complete control over the Orioles—to manage, sell or, if he chooses, to move to Tennessee. [where he has a home and where his wife’s career is headquartered] – Without answering anyone.”

The suit also states that Georgia intends to sell the team when her ailing husband dies.

Exterior view of Oriole Park at Camden Yards in Baltimore on August 15, 2003.

Exterior view of Oriole Park at Camden Yards in Baltimore on August 15, 2003.
(Jerry Drindle/Getty Images)

However, John recently stated that o’ willlive in baltimore … as long as Fort McHenry is keeping an eye on the Inner Harbor.”

Georgia added that “Any suggestion that Peter, John, or I will find out whether to move the club is false and intentionally divisive.”

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A move unlikely, especially given Maryland’s legislature has committed $1.2 billion to improve Camden Yards.

Until after Peter’s death, the team would not even be put up for sale, if it is at all. The Angelos family would have to pay a larger amount in taxes if the sale were to take place before that. Georgia is in line to take full control of the team tax-free.

A general view of Orioles Park at Camden Yards in Baltimore on June 7, 2022.

A general view of Orioles Park at Camden Yards on June 7, 2022 in Baltimore.
(Mark Goldman/Icon Sportswire via Getty Images)

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The Washington Nationals are expected to be sold over the winter, while the Los Angeles Angels may also hit the market soon.

The Orioles have played in Baltimore since 1954.

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