The Deal with Alex Rodriguez and Jason Kelly Why Wall Street Giant David Rubenstein Bought the Baltimore Orioles
12 snips
Oct 10, 2024 
David Rubenstein, co-founder of The Carlyle Group and principal owner of the Baltimore Orioles, shares his journey from private equity to baseball ownership. He discusses the motivations behind purchasing the Orioles, emphasizing his hometown pride and community ties. The conversation includes insights on revitalizing the franchise through player analytics and local engagement. Rubenstein also addresses the challenges facing baseball in attracting younger fans and enhancing diversity, blending business acumen with sports passion.
AI Snips
Chapters
Transcript
Episode notes
Orioles Acquisition
- David Rubenstein's path to Orioles ownership was convoluted, involving initial talks with Ted Leonsis and Monumental Sports.
- After a failed partnership, direct negotiations with John Angelos led to a phased acquisition, starting with 40% and later gaining control.
Baltimore Revitalization
- David Rubenstein, despite his successful private equity career, views Orioles ownership as half-investment, half-philanthropy.
- Driven by a desire to give back to his hometown, he aims to revitalize Baltimore through the team.
Learning from Peers
- Rubenstein observed peers like Tony Ressler and Steve Pagliuca successfully balancing sports ownership with private equity.
- This inspired his own venture into sports, acknowledging a possible earlier missed opportunity with NBA teams.