Orioles sale to David Rubenstein finalized after MLB approval

David M. Rubenstein, Esquire speaks in the Main Reading Room of the Baltimore Bar Library. Mr. Rubenstein talks about his early years and upbringing in Baltimore where he attended Baltimore City College High School. He also discuss his recent purchase of the Baltimore Orioles.

Rubenstein inherits a lease negotiated with the stadium authority and approved by the Board of Public Works in December — just a couple of weeks before it was set to expire. The lease keeps the club at state-owned Oriole Park at Camden Yards for a minimum of 15 years and frees up roughly $400 million in state investment to the ballpark.

He said he met recently with Gov. Moore and that the governor is on board with negotiating a plan to redevelop the area around Camden Yards and ensuring the lease extends for the full, 30-year term and that there is no opt-out.He hopes to mingle with fans during Thursday’s opener against the Los Angeles Angels, sitting in the stands rather than the owner’s box.

“The Orioles are in great hands, and the Club, as well as the City and State that it calls home, are well positioned for success into the future.” The Orioles won 101 games and the American League East last year, and the team, loaded with young talent, figures to be a playoff contender for the foreseeable future. Over the past three years, the Orioles have had Baseball America’s No. 1 prospect , marking the first such three-peat for any MLB organization.Rubenstein’s agreement to purchase the team has been weaving through necessary approvals since January.

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