Maryland Stadium Authority approves sale of Orioles to David Rubenstein [Video]

BALTIMORE — The Maryland Stadium Authority signed off on the sale of the Orioles to billionaire private equity investor David Rubenstein.

Ownership was transferred to Inner Harbor Sports LLC, a group owned by Rubenstein.

The next hurdle will be getting it approved by Major League Baseball owners.

Back in January, the Angelos family, agreed to sell the team to Rubenstein for $1.725 billion.

His ownership team includes former New York City Mayor Michael Bloomberg, Ares co-founder Michael Arougheti, Orioles icon Cal Ripken Jr., basketball hall of famer Grant Hill, and former Baltimore Mayor Kurt Schmoke. Co-Heads of the Ares Group, Mitchell Goldstein and Michael Smith, along with business person Michele Kang are also involved.