Peter Angelos, longtime owner of the Baltimore Orioles, dead at 94 after battling illness 'for several years', announce the MLB team

Peter Angelos, longtime owner of the Baltimore Orioles, has died at the age of 94.

The Major League Baseball team announced the news on Saturday, saying that Angelos had been ill for several years.

A statement said: 'Today, Peter G. Angelos passed away quietly at the age of 94.

'Mr. Angelos had been ill for several years and the family thanks the doctors, nurses and caregivers who brought comfort to him in his final years.

'It was Mr Angelos' wish to have a private burial and the family asks for understanding as they honor that request. Donations may be sent to charity in lieu of flowers.' 

Peter Angelos, longtime owner of the Baltimore Orioles , has died at the age of 94

Angelos bought the team with a consortium back in 1993 from venture capitalist Eli Jacobs

Angelos bought the team with a consortium back in 1993 from New York venture capitalist Eli Jacobs at a price of $173m. Forbes has recently valued the team at $1.713bn, the 18th highest for a baseball team.

His son, John, has been the chair and managing partner of the team since 2020 - taking over for his father as his health deteriorated.

The Orioles, who have not been to the World Series since winning it in 1983, are coming off the winningest season (101-61) in Angelos' tenure with the team. Baltimore made the playoffs six times in that span (1996, 1997, 2012, 2014, 2016 and 2023). 

The Orioles had been subject to relocation rumors for years, but in October of 2019, John stated that he and his father did not have plans to move the team. 

However, it was reported in January that the Angelos family agreed to sell controlling interest in the team to a group led by billionaire David Rubenstein - and including Orioles legend Cal Ripken Jr. and Mike Arougheti - for a reported $1.725 billion.

Reports from back in December indicated that Rubenstein, a Baltimore native, could be looking to acquire his hometown team.

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

There has been no clarity on when or if the deal will be approved.

It's unclear what Arougheti's role in the team will be, but considering Rubenstein has been linked with this purchase longer, it's likely that he'd be the main decision maker for the ownership group. 

His son, John, has been the chair and managing partner of the team since 2020 

David Rubenstein (L) and Mike Arougheti (R) are set to purchase the Baltimore Orioles 

Angelos is pictured with Orioles legend Cal Ripken Jr. who is said to be part of the consortium 

Rubenstein, aged 74, grew up in Baltimore before attending Duke University and then graduating with a law degree from the University of Chicago.

He founded The Carlyle Group with two others back in 1987 and the company has become one of the world's largest private equity groups.

Carlyle manages roughly $382billion in assets and generated $4.44b in revenue in 2022.

Arougheti is a New York native and a co-founder of Ares Management, another private equity firm that manages about $12billion in total assets as of 2020 and took in $1.765billion in revenue that same year.