The family feud embroiling the Baltimore Orioles’ ownership has come to an end.
Lawsuits involving team co-owner Georgia Angelos and her two sons John and Louis have all been settled. John Angelos is the Orioles’ chairman and CEO.
Georgia’s husband Peter Angelos, 93, has an estimated net worth of $2 billion and is in poor health.
- In June, Louis Angelos sued his brother and mother, alleging that they were seeking to cut him out of the family fortune.
- He later added that they drew down a $65 million bank account in part to buy an increased ownership share in the Orioles. John said in January that his parents hold more than 70% of the team.
- Georgia sued Louis in August for “financial elder abuse,” saying that he sought to sell Peter’s law firm, which Louis now runs, to himself.
The suits have all been settled “with prejudice,” meaning none of the parties involved can bring the same suit again.
Empty Nest?
The Orioles rejected a five-year lease extension on Camden Yards in pursuit of a longer-term commitment. The team’s current lease expires at the end of the year.
The team and Maryland Gov. Wes Moore released a statement last week affirming their “commitment to creating a long-term, multi-decade, public-private partnership.”
The Orioles unlock $600 million in public funding on the signing of a new lease.
