Camden Yards, the home of the Baltimore Orioles Oct 7, 2023; Baltimore, Maryland, USA; A general view during the eight inning in game one of the ALDS for the 2023 MLB playoffs between the Baltimore Orioles and the Texas Rangers at Oriole Park at Camden Yards. Mandatory Credit: Mitch Stringer-USA TODAY Sports

The Baltimore Orioles have been owned by the Angelos family since 1993. However, that will not be the case any longer after a sale of the organization on Tuesday that could completely change the trajectory of the franchise.

The Orioles are coming off the best regular season since 1979, finishing with 102 victories, an impressive feat considering how young the team is.

They are sure to be among the top contenders in the American League again in 2024. And now, they are set to have a new ownership group in place that may actually begin to invest in this growing team.

John Ourand of Puck News broke the news on Tuesday that team owner John Angelos has agreed to sell the team for $1.725 billion to a group of private equity billionaires, Mike Arougheti and David Rubenstein, who happens to be from Baltimore.

Orioles legend Cal Ripkin Jr. will also reportedly be a part of the news ownership group in Baltimore, according to Andy Kostka of The Baltimore Banner.

The Angelos family has been criticized for decades now for being notoriously cheap, sporting the second-lowest payroll of any 40-man roster in all of baseball at $89.4 million this past season.

Naturally, Orioles fans took notice of the news and appear to be extremely eager for this new ownership group to potentially produce a winner in Baltimore.

This is not only huge because the team may now be more likely to spend in free agency on key players. It also means that they will likely spend to keep their young core intact years down the road, which was not a certainty with the Angelos family ownership.

Back in August, John Angelos openly admitted that it “might not be feasible” to keep the young core of Adley Rutschman, Gunnar Henderson, and Grayson Rodriguez intact in the future.

As long as this ownership group is indeed committed to putting this Orioles team in a position to win, expect some big things from them for years to come.

[Puck News]

About Reice Shipley

Reice Shipley is a staff writer for Comeback Media that graduated from Ithaca College with a degree in Sports Media. He previously worked at Barrett Sports Media and is a fan of all things Syracuse sports.