ESPN MLB insider Author of “The Arm: Inside the Billion-Dollar Mystery of the Most Valuable Commodity in Sports”
Major League Baseball’s owners have unanimously approved private-equity billionaire David Rubenstein as the new owner of the Baltimore Orioles.
The accelerated sale, which will eventually give Rubenstein and his ownership group 70% of the Orioles, transferred control of the team to him less than two months after he agreed to buy it from the Angelos family.
“On behalf of Major League Baseball, I thank the Angelos family for their many years of service to the game and the communities of Baltimore,” said Commissioner of Baseball Robert D. Manfred, Jr. in a statement. “Peter Angelos loved Baseball, loved Baltimore and was an important part of MLB for more than three decades.
“I congratulate David Rubenstein on receiving approval from the Major League Clubs as the new control person of the Orioles. As a Baltimore native and a lifelong fan of the team, David is uniquely suited to lead the Orioles moving forward. We welcome David and his partners as the new stewards of the franchise.”
The $1.725 billion valuation for the Orioles is the third highest for the sale of a baseball team, behind Steve Cohen’s $2.4 billion deal for the New York Mets in 2020 and the $2.15 billion purchase of the Los Angeles Dodgers by a group led by Mark Walter in 2012. Peter Angelos bought the Orioles in 1993 for $173 million.
Rubenstein will oversee a team that won an American League-best 101 regular-season games last year and features arguably the best young core in baseball, with franchise-level players at catcher (Adley Rutschman) and shortstop (Gunnar Henderson), plus another waiting in the wings at Triple-A (second baseman Jackson Holliday). Though the Orioles enter the season with one of the lowest payrolls in baseball at $96.6 million, Rubenstein is expected to infuse the team with cash, either to bring in marquee free agents or lock up young players on long-term deals.
The 74-year-old brings with him not only a gaudy list of investors — including Orioles legend Cal Ripken Jr., former New York City mayor Michael Bloomberg, CEO of the Ares Management investment firm Michael Arougheti, Basketball Hall of Famer Grant Hill, and former Baltimore mayor Kurt Schmoke — but a deep connection to the team. He grew up in Baltimore and is a lifelong Orioles fan, and he told Bloomberg TV he sees the franchise as “a very good investment opportunity.”
In December, the Orioles signed a 30-year lease to remain at Camden Yards, which includes a provision allowing the team to develop land around the stadium. John Angelos, who took control of the team in 2020 because of the the failing health of his father, Peter, who died on Saturday, had sought to build a mixed-use development like The Battery around Atlanta’s Truist Park.
Rubenstein’s group will own 40% of the Orioles for now with a plan to purchase an additional 30% of the team from the Angelos family in the future.
Sportico places the value of the franchise and its team-related holdings at $4.2 billion.
Sixth Street’s investment, reportedly approved by Major League Baseball on Monday, will go toward upgrades to Oracle Park and the Giants’ training facilities in Scottsdale, Arizona, as well as Mission Rock, the team’s real estate development project located across McCovey Cove from the ballpark.
Giants president and CEO Larry Baer called it the “first significant investment in three decades” and said the money would not be spent on players.
“This is not about a stockpile for the next Aaron Judge,” Baer told the New York Times. “This is about improvements to the ballpark, making big bets on San Francisco and the community around us, and having the firepower to take us into the next generation.”
Sixth Street is the primary owner of National Women’s Soccer League franchise Bay FC. It also has investments in the NBA’s San Antonio Spurs and Spanish soccer powers Real Madrid and FC Barcelona.
“We believe in the future of San Francisco, and our sports franchises like the Giants are critical ambassadors for our city of innovation, showcasing to the world what’s only made possible here,” Sixth Street co-founder and CEO Alan Waxman said in the news release. “We believe in Larry and the leadership team’s vision for this exciting new era, and we’re proud to be partnering with them as they execute the next chapter of San Francisco Giants success.”
Founded in 2009 and based in San Francisco, Sixth Street has assets totaling $75 billion, according to Front Office Sports.
TOKYO — Shohei Ohtani seems impervious to a variety of conditions that afflict most humans — nerves, anxiety, distraction — but it took playing a regular-season big-league game in his home country to change all of that.
After the Los Angeles Dodgers‘ Opening Day 4-1 win over the Chicago Cubs in the Tokyo Dome, Ohtani made a surprising admission. “It’s been a while since I felt this nervous playing a game,” he said. “It took me four or five innings.”
Ohtani had two hits and scored twice, and one of his outs was a hard liner that left his bat at more than 96 mph, so the nerves weren’t obvious from the outside. But clearly the moment, and its weeklong buildup, altered his usually stoic demeanor.
“I don’t think I’ve ever seen Shohei nervous,” Dodgers manager Dave Roberts said. “But one thing I did notice was how emotional he got during the Japanese national anthem. I thought that was telling.”
As the Dodgers began the defense of last year’s World Series win, it became a night to showcase the five Japanese players on the two teams. For the first time in league history, two Japanese pitchers — the Dodgers’ Yoshinobu Yamamoto and the Cubs’ Shota Imanaga — faced each other on Opening Day. Both pitched well, with Imanaga throwing four hitless innings before being removed after 69 pitches.
“Seventy was kind of the number we had for Shota,” Cubs manager Craig Counsell said. “It was the right time to take him out.”
The Dodgers agreed, scoring three in the fifth inning off reliever Ben Brown. Imanaga kept the Dodgers off balance, but his career-high four walks created two stressful innings that ran up his pitch count.
Yamamoto rode the adrenaline of pitching in his home country, routinely hitting 98 with his fastball and vexing the Cubs with a diving splitter over the course of five three-hit innings. He threw with a kind of abandon, finding a freedom that often eluded him last year in his first year in America.
“I think last year to this year, the confidence and conviction he has throwing the fastball in the strike zone is night and day,” Roberts said. “If he can continue to do that, I see no reason he won’t be in the Cy Young conversation this season.”
Cubs right fielder Seiya Suzuki went hitless in four at bats — the Cubs had only three hits, none in the final four innings against four relievers out of the Dodgers’ loaded bullpen — and rookie Roki Sasaki will make his first start of his Dodger career in the second and final game of the series Wednesday.
“I don’t think there was a Japanese baseball player in this country who wasn’t watching tonight,” Roberts said.
The Dodgers were without Mookie Betts, who left Japan on Monday after it was decided his illness would not allow him to play in this series. And less than an hour before game time, first baseman Freddie Freemanwas scratched with what the team termed “left rib discomfort,” a recurrence of an injury he first sustained during last year’s playoffs.
The night started with a pregame celebration that felt like an Olympic opening ceremony in a lesser key. There were Pikachus on the field and a vaguely threatening video depicting the Dodgers and Cubs as Monster vs. Monster. World home-run king Saduharu Oh was on the field before the game, and Roberts called meeting Oh “a dream come true.”
For the most part, the crowd was subdued, as if it couldn’t decide who or what to root for, other than Ohtani. It was admittedly confounding: throughout the first five innings, if fans rooted for the Dodgers they were rooting against Imanaga, but rooting for the Cubs meant rooting against Yamamoto. Ohtani, whose every movement is treated with a rare sense of wonder, presented no such conflict.
JUPITER, Fla. — St. Louis Cardinals shortstop Masyn Winn was scratched from the lineup for their exhibition game on Tuesday because of soreness in his right wrist.
Winn was replaced by Jose Barrero in the Grapefruit League matchup with the Miami Marlins, with the regular-season opener nine days away. Winn, who was a 2020 second-round draft pick by the Cardinals, emerged as a productive everyday player during his rookie year in 2024. He batted .267 with 15 home runs, 11 stolen bases and 57 RBIs in 150 games and was named as one of three finalists for the National League Gold Glove Award that went to Ezequiel Tovar of the Colorado Rockies.
Winn had minor surgery after the season to remove a cyst from his hand. In 14 spring training games, he’s batting .098 (4 for 41) with 12 strikeouts.