Orioles sale clears another step with ownership committee's approval
The sale of the Baltimore Orioles has been approved by a Major League Baseball ownership committee in one of several steps toward finalizing the purchase, according to a person familiar with the decision.
The person spoke on condition of anonymity Friday night because the approval hadn't been announced.
The sale still has to go before MLB's executive council and then must be approved by 75% of all owners before it can be closed.
Carlyle Group Inc. co-founder David Rubenstein reached an agreement in January to buy the Orioles for $1.725 billion. Cal Ripken Jr. and Grant Hill are part of the investor group headed by Rubenstein.
The Angelos family has been in control of the Orioles since 1993, when Peter Angelos purchased the team for $173 million. Angelos' son John is the team's current chairman.
Reporting by The Associated Press.
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