Major League Baseball has approved Orioles executive vice president John Angelos as the franchise’s new “control person,” Jeff Barker of the Baltimore Sun reports. Angelos’ new title means he’ll officially take over as the Orioles’ primary owner, succeeding his father, Peter Angelos, who purchased the team for $173MM in 1993.
John Angelos required approval from 22 of the league’s other 29 owners to become the face of O’s ownership, though the league hasn’t disclosed how many votes he received, according to Barker. The 91-year-old Peter Angelos remains the Orioles’ majority owner, but his health is failing, which has led John and his brother Louis to take on bigger roles with the organization in recent years.
The question now is whether the Orioles will remain in the Angelos family for the long haul. The Baltimore Sun reported earlier this week that at least three people have considered forming bidding groups if the Angelos family decides to sell the team. As Barker writes, though, if Angelos’ sons do part with the franchise when their father is still alive, it would “subject the owner to steep capital gains taxes based on how much the club’s value has appreciated over the years.” However, if the team’s sold after Peter Angelos passes away, it would eliminate the capital gains tax.
It’s important to note that there is no indication the Orioles will end up on the block or leave Baltimore. John Angelos said in 2019 that the Orioles will stay in Baltimore for “as long as Fort McHenry is standing watch over the Inner Harbor.”
General manager Mike Elias echoed a similar sentiment in a letter to season-ticket holders this week, writing (via the Baltimore Sun), “There is nothing uncertain about the future of your Orioles in Baltimore.”