The Maryland Stadium Authority is set to do business with the new owners of the Orioles.

A group led by investor David Rubenstein is soon expected to gain a controlling interest in the city’s baseball team, pending a vote by Major League Baseball owners. MSA, which oversees Camden Yards, consented to the move via voice vote in a virtual meeting without additional discussion.

MLB’s owners committee has approved the sale, but the full group has yet to vote on it.

It is a small administrative step in the transition of power between the Angelos family — which has run the franchise since 1993 — to Rubenstein and his investment group, registered as Inner Harbor Sports LLC. One of the conditions of the recently extended stadium lease, that MSA must consent to any transfer of a controlling interest, has now been met.

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Rubenstein will have a long to-do list with MSA once he takes over as the control person of the Orioles.

When the state and the franchise signed a long-term lease in December, it positioned the Orioles to stay at Camden Yards for 30 years and use up to $600 million in state bond funds to renovate the park, which opened in 1992. All upgrades, renovations and bidding processes will require Rubenstein’s input.

The Orioles also have the right to negotiate a ground lease for development rights on properties adjacent to the stadium, including the B&O Warehouse, the vacant Camden Station building and a parking area between the warehouse and train tracks. A plan for those areas would have to be agreed upon by the end of 2027.

Rubenstein is a billionaire who made his fortune through private equity. His impending ownership has been well received by fans, as well as the state. Rubenstein took a tour of Camden Yards this month and shared photos with Gov. Wes Moore. He has taken trips to Ed Smith Stadium in Sarasota, Florida, watching the team that should soon be his.

Kyle Goon

kyle.goon@thebaltimorebanner.com

Kyle Goon

Kyle joined The Baltimore Banner in 2023 as a sports columnist. He previously covered the L.A. Lakers for The Orange County Register and myriad sports at The Salt Lake Tribune. He’s a Mt. Hebron High and University of Maryland alum.

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