David Rubenstein, the chairman of the Carlyle Group, is in advanced talks to purchase the Baltimore Orioles.
The team is currently owned by the Angelos family, who have been principal shareholders in the Orioles since 1993.
According to Bloomberg, these talks are preliminary with a chance for the deal to fall apart and nothing has been finalized.
Rubenstein is a Baltimore native and this purchase could indicate that the team may stay in ‘Charm City’ after years of relocation rumors.
MailSport has reached out to the Baltimore Orioles for comment.
THIS IS A DEVELOPING STORY. MORE TO FOLLOW.
The Baltimore Orioles might be staying in Maryland if a deal with a new buyer goes through
Rubenstein, aged 74, grew up in Baltimore before attending Duke University and then graduating with a law degree from the University of Chicago.
He founded The Carlyle Group with two others back in 1987 and the company has become won of the world’s largest private equity groups in the world.
Carlyle manages roughly $382billion in assets and generated $4.44b in revenue in 2022.