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Orioles hired investment bank to assess potential sale of team: report


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The Baltimore Orioles have hired Goldman Sachs to “assess the team’s sales prospects”, according to The Athletic.

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

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

Louis Angelos, son of owner Peter Angelos, filed a lawsuit in June against his brother and mother, John and Georgia, to force the sale of the team.

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Louis argues in his lawsuit that John “sought to take control of his father’s estate and completely exclude him,” the lawsuit says.

“The corrupting effect of John’s actions was to completely frustrate [Louis] Intentions of Angelos,” the lawsuit added. “John intends to maintain absolute control over the Orioles – to manage, sell or, if he chooses, move to Tennessee. [where he has a home and where his wife’s career is headquartered] – without having to answer to anyone.”

The lawsuit also says Georgia wants to sell the team when her ailing husband dies.

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

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

However, John recently stated that the will of the O’sstay in Baltimore …as long as Fort McHenry watches over the Inner Harbor.”

Georgia added that “Any suggestion that Peter, John or I would consider moving the Club is false and intentionally divisive.”

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A decision is unlikely, especially since the Maryland legislature has committed $1.2 billion to Camden Yards improvements.

The team also probably wouldn’t be put up for sale, if at all, until after Peter’s death. The Angelos family would have to pay a large amount of taxes if a sale before that were to take place. Georgia is on its way to having 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 in Baltimore on June 7, 2022.
(Mark Goldman/Icon Sportswire via Getty Images)

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The Washington Nationals are expected to be sold out 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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