Watch CBS News

MLB owners to vote Wednesday on Orioles sale to David Rubenstein

Danielle Allentuck from The Baltimore Banner discusses Orioles' sale
Danielle Allentuck from The Baltimore Banner discusses Orioles' sale 02:43

BALTIMORE -- Major League Baseball's owners are set to vote Wednesday on David Rubinstein's purchase of the Baltimore Orioles for $1.725 billion, according to The Athletic

The update comes after the death of longtime Oriole's owner Peter Angelos on Saturday.    

The sale of the team was approved by the Maryland Stadium Authority last week.  MLB owners must have a 75% approval vote before Rubinstein takes over.  

Rubinstein and his ownership group will have a 40% stake in the team if the deal is finalized.  

The rest of the team's ownership will remain with the Angelos family until a second acquisition, where Rubinstein will likely acquire a larger stake. 

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.