Business

Grant Hill Keeps Adding To Business Portfolio With Investment Into Baltimore Orioles

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Former NBA star Grant Hill, already an established figure in sports ownership with his involvement in the Orlando City Soccer Club and the National Women’s Soccer League’s Orlando Pride, is expanding his portfolio by joining a high-profile ownership group set to acquire the MLB’s Baltimore Orioles. This move not only marks Hill’s venture into baseball ownership but also brings together an impressive consortium of individuals, including billionaires David Rubenstein and Mike Arougheti, baseball legend Cal Ripken Jr., former New York City mayor Michael Bloomberg, former Baltimore mayor Kurt Schmoke, and entrepreneur Michele Kang.

 

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According to ESPN reports, the ownership group, led by Rubenstein and Arougheti, successfully secured a deal to purchase a controlling stake in the Baltimore Orioles from the Angelos family. The transaction, valued at a staggering $1.73 billion, has been approved by the majority owners. Club Chairman John Angelos, despite selling the controlling stake, will continue to contribute as a senior adviser. This acquisition is poised to bring a fresh wave of energy and strategic leadership to the Orioles franchise.

 

The newly formed ownership group is a formidable blend of business acumen, sports expertise, and civic leadership. Hill’s entry into this group signifies not only his passion for sports but also his commitment to elevating the Orioles to new heights. The inclusion of influential figures like Ripken, Bloomberg, and Schmoke adds diverse perspectives, experience, and a wealth of connections to the consortium. Rubenstein, expressing his gratitude to the Angelos family, emphasized his lifelong fandom for the Orioles and conveyed his eagerness to work with the team’s owners, players, and staff.

In a news release, Hill, expressing his enthusiasm for the venture, highlighted his commitment to contributing to the success of the Orioles. The group’s collective goal is crystal clear – to bring a World Series trophy back to the city of Baltimore. This commitment is echoed by Ripken, who shares a profound connection with the Orioles since his childhood and sees this as a special day for the franchise.

The ownership group recognizes the importance of fan support and acknowledges the role of the Orioles’ dedicated followers. John Angelos, in his statement, expressed gratitude to the fans and supporters and emphasized that the transaction is not only beneficial for Major League Baseball but also for the city of Baltimore and the state of Maryland. Rubenstein, addressing the fans directly, stressed that their collective efforts are dedicated to bringing glory back to Baltimore, reinforcing the idea that success is a shared journey.

Grant Hill’s foray into baseball ownership, particularly with the Baltimore Orioles, adds another layer to his illustrious sports career. The collaboration with influential individuals in the ownership group sets the stage for a new era in Orioles’ history. As this diverse and dynamic consortium takes charge, Baltimore fans can anticipate an exciting chapter for their beloved team, with a shared vision to bring home a coveted World Series trophy.

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