Tuesday October 3, 2023

Leonsis Adds Baltimore Orioles to Shopping List

  • Ted Leonsis could bid on the Baltimore Orioles with Carlyle Group co-founder David Rubinstein.
  • It's unclear if the team will be sold.
Geoff Burke-USA TODAY Sports
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Ted Leonsis and Carlyle Group co-founder David Rubenstein are considering a bid for the Washington Nationals, but they also have a neighboring team on their radar.

The two have reportedly told people connected to the Baltimore Orioles that they would consider bidding if the team became available.

While the Nationals are likely to be sold at some point, the Orioles situation is cloudier.

  • In June, Louis Angelos sued his brother, Orioles chairman and CEO John Angelos, and their mother, Georgia Angelos, alleging that John blocked a plan to sell the team.
  • Louis’ attorneys stated that the brothers’ ailing father, Peter Angelos, established a trust through which Louis and John would share equally in the management and inheritance of all family assets, but John has been working to gain full control over the team.
  • Georgia’s legal filings showed that she retained Goldman Sachs and Jones Day to provide services related to a planned sale.

In March, Forbes valued the Nationals at $2 billion and the Orioles at $1.4 billion.

The MASN Question

A sale of either team could lead to a resolution of the unique broadcasting arrangement between the two teams: The Orioles own 67% of MASN, the independent regional sports network that holds broadcast rights for both teams.

Leonsis could seek to buy out the Nationals’ rights, should he purchase the team. On Tuesday, his Monumental Sports & Entertainment took full control of NBC Sports Washington after purchasing Comcast’s 67% stake.

NBCSW broadcasts the Washington Wizards and Capitals, both of which are owned by Monumental.

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