Baltimore Orioles owner John Angelos ‘agrees to SELL the team to private equity billionaires David Rubenstein and Mike Arougheti in bombshell deal worth $1.725BILLION’

Orioles owner John Angelos has reportedly agreed to sell the team to financiers David Rubenstein and Mike Arougheti after years of rumors of relocations or ownership changes.

Reports in December indicated that Rubenstein, a native of Baltimore, could be looking to take over his hometown team.

Now that seems closer than ever, with Arougheti joining the deal that would value the team at $1.725 billion. according to Pucknieuws.

There is no clarity on when the deal will be approved, but MLB team owners will meet next week in Orlando where they will likely be briefed.

It is unclear what Arougheti’s role in the team will be, but given that Rubenstein has been involved in this purchase for some time, it is likely that he will be the key decision maker for the ownership group.

THIS IS A DEVELOPMENT STORY. MORE TO FOLLOW.