Baltimore Orioles: Investors lining up just in case team is put on block

WASHINGTON, DC - MARCH 29: Peter Angelos (L) CEO of the Baltimore Orioles receives a lifetime achievement award from Elmer Chatak(R), President of the Industrial Union Department(AFL-CIO), during their legislative conference in Washington, DC 29 March. Angelos' Baltimore Orioles baseball team is the only major league team refusing to use replacement players during the strike. AFP PHOTO (Photo credit should read JOYCE NALTCHAYAN/AFP via Getty Images)
WASHINGTON, DC - MARCH 29: Peter Angelos (L) CEO of the Baltimore Orioles receives a lifetime achievement award from Elmer Chatak(R), President of the Industrial Union Department(AFL-CIO), during their legislative conference in Washington, DC 29 March. Angelos' Baltimore Orioles baseball team is the only major league team refusing to use replacement players during the strike. AFP PHOTO (Photo credit should read JOYCE NALTCHAYAN/AFP via Getty Images) /
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There has not been any indication that the Angelos family is looking to see the Baltimore Orioles, but investors are lining up just in case.

Peter Angelos has owned the Baltimore Orioles since 1993, purchasing the franchise for $173 million. That investment has worked out well for Angelos, as the Orioles franchise is valued at $1.4 billion, an impressive increase in less than three decades.

While Orioles ownership has been stable, that may not be the case at this point. Angelos is 91 years old and in failing health. Although nothing official has been done, his son John has been in charge of the day to day operations of the franchise for the past 18 months.

Given Angelos’ health woes, there is speculation about whether or not the team will be put up for sale. According to reports, investors are starting to line up financial support, just in case the team and MASN are put on the block.

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For their part, the Angelos family has not made any indication that they are looking to sell. They had rebuffed offers for years, pointing to their allegiance to the city of Baltimore and their steadfast belief that the team should not be owned by any ‘out of towners.’ Likewise, the family wants to make certain that the Orioles remain in Baltimore, especially given its importance to the city both economically and in regards to its image.

But that is not going to stop speculation from happening. Despite the major losses throughout Major League Baseball due to the pandemic, there are plenty of people that want to own a franchise. Steve Cohen just spent $2.4 billion to purchase the Mets, and the Royals were sold for $1 billion during the previous offseason.

Likewise, the Orioles’ success, or lack thereof, on the diamond would not matter. A prospective new owner could look to turn the team around, reaping the benefits of public perception should the Orioles climb the standings. But that would all depend on the Orioles being put up for sale, which does not appear as though it will happen.

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Prospective investors are looking to be ready to purchase the Baltimore Orioles, just in case they are put up for sale. To this point, that is not going to happen.