Orioles fans have reason for optimism as John Angelos sells team

Baltimore Orioles fans might be feeling a lot better about their team's long-term outlook on Tuesday, and it has nothing to do with their organization's young core of stars. It's because John Angelos has finally sold the team. 

Angelos has been one of pro sports most loathed owners, and his run in charge of the Orioles is ending with the sale of the team to billionaires David Rubenstein and Mike Arougheti. According to Puck.com's John Ourand — who broke the news — the deal values the team at over $1.7 billion.

This is massive news for Orioles fans who no doubt felt a sense of consistent hopelessness under the Angelos ownership. No matter how good or promising the team looked, no matter their on-field success and no matter what else was happening around them, there was never a meaningful financial commitment made the team. The Orioles' payroll remained near the bottom of MLB, and even going into 2024, the payroll is sitting at $80.2 million. That is 29th in baseball and ahead of only the Oakland A's.

For a team that just won 101 games and the American East crown, that is an appallingly low number and not anywhere close to the other major World Series contenders in the league. That alone is problematic. It is even more so playing in a division with teams like the New York Yankees, Boston Red Sox and now the Toronto Blue Jays, all of whom have been big spenders in the past. 

The Orioles have a great young core of talent led by catcher Adley Rutschman, Gunnar Henderson and Ryan Mountcastle, among others.

They are the foundation of the team that will help make them a contender. But as good as they are, they can't do it on their own. It's going to take a major financial investment to not only keep them in Baltimore long-term, but to also give them the supporting cast they need to win.

That wasn't going to happen under Angelos.

It might happen under a new ownership group. Now Orioles fans will get to find out if it will.