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David Rubenstein to Acquire Baltimore Orioles for David Rubenstein to Acquire Baltimore Orioles for Top News.725 Billion.725 Billion

David Rubenstein Orioles Baltimore the Baltimore Orioles Peter Angelos Carlyle John Angelos

FILE - Co-founder and co-chairman of the private equity firm The Carlyle Group David Rubenstein speaks in the panel "The Global Economic Outlook" on the last day of the forum's Annual Meeting in Davos

Carlyle Group Inc. co-founder, David Rubenstein, has reportedly made a significant agreement to purchase the Baltimore Orioles for a staggering $1.725 billion. While the deal has not been officially announced, a person with insider knowledge spoke to The Associated Press on Tuesday night on the condition of anonymity.

Rubenstein, a Baltimore native, will step in as the team's controlling owner, marking a significant change in the Orioles' leadership. His investment team includes Ares co-founder, Michael Arougheti, adding further expertise to the venture.

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