Carlyle Group chairman David Rubenstein launches a bid to buy the Baltimore Orioles from the Angelos family in a move that could keep the team in Maryland after relocation talks

David Rubenstein, chairman of the Carlyle Group, is in talks to buy the Baltimore Orioles.

The team is currently owned by the Angelos family, which has been a major shareholder of the Orioles since 1993.

In accordance with BloombergHowever, these talks are preliminary and there is a possibility that the deal will fall apart and nothing has been finalized yet.

Rubinstein is a Baltimore native, and the acquisition could indicate the team could remain in Charm City after years of relocation rumors.

MailSport has reached out to the Baltimore Orioles for comment.

Baltimore Orioles could stay in Maryland if deal goes through with new buyer

Billionaire and Baltimore native David Rubinstein is interested in buying the team

Since 1993, the Orioles have been majority owned by the Angelos family (pictured: Peter Angelos).

Rubinstein, 74, grew up in Baltimore before attending Duke University and then earning a law degree from the University of Chicago.

Along with two others, he founded The Carlyle Group back in 1987, and the company became one of the world’s largest private equity groups.

Carlisle manages approximately $382 billion in assets and generated $4.44 billion in revenue in 2022.

Peter Angelos bought the team and consortium back in 1993 from New York venture capitalist Eli Jacobs for $173 million. Forbes recently valued the team at $1.713 billion, the 18th highest for a baseball team.

His son John has been chairman and managing partner of the team since 2020, replacing his father when his health deteriorated.

There have been rumors of the Orioles moving for years, but in October 2019, John stated that he and his father had no plans to move the team.