Current:Home > InvestBaltimore Orioles owner Peter Angelos dies at 94-DB Wealth Institute B2 Reviews & Ratings
Baltimore Orioles owner Peter Angelos dies at 94
lotradecoin transparency View Date:2024-12-26 04:08:38
Peter Angelos, owner of a Baltimore Orioles team that endured long losing stretches and shrewd proprietor of a law firm that won high-profile cases against industry titans, died Saturday. He was 94.
Angelos had been ill for several years. His family announced his death in a statement thanking the caregivers "who brought comfort to him in his final years."
Angelos' death comes as his son, John, plans to sell the Orioles to a group headed by Carlyle Group Inc. co-founder David Rubenstein. Peter Angelos' public role diminished significantly in his final years. According to a lawsuit involving his sons in 2022, he had surgery after his aortic valve failed in 2017.
Commissioner of Baseball Robert D. Manfred, Jr said in a statement on Saturday Angelos was a proud Baltimore native who "deeply appreciated" owning the Orioles.
"On behalf of Major League Baseball, I send my condolences to Peter's wife, Georgia, their sons John and Louis, and the entire Angelos family," Manfred said.
Born on the Fourth of July in 1929 and raised in Maryland by Greek immigrants, Peter Angelos rose from a blue-collar background to launch a firm in his own name after receiving his law degree from the University of Baltimore in 1961.
In August 1993, Angelos led a group of investors that bought the Orioles. The group included writer Tom Clancy, filmmaker Barry Levinson and tennis star Pam Shriver. The price tag of $173 million - at the time the highest for a sports franchise - came in a sale forced by the bankruptcy of then-owner Eli Jacobs.
While remaining active in a law firm specializing in personal injury cases, Angelos assumed a hands-on approach to running his hometown team. Few player acquisitions were carried out without his approval, and his reputation for not spending millions on high-priced free agents belied his net worth, which in 2017 was estimated at $2.1 billion.
In 1996, his firm brought a lawsuit on behalf of the state of Maryland against tobacco giant Philip Morris, securing a $4.5 billion settlement. The Law Offices of Peter Angelos also earned millions of dollars through the settlement of asbestos cases, including a class-action suit on behalf of steel, shipyard and manufacturing facility workers.
Angelos made headlines as well in baseball. In 1995, he was the only one of 28 owners who refused to adhere to a plan to use replacement players during a union strike that began during the 1994 season.
"We're duty bound to provide major league baseball to our fans, and that can't be done with replacement players," he insisted.
At the time, Orioles shortstop Cal Ripken Jr. was only 122 games from breaking Lou Gehrig's record of 2,130 consecutive games played. The streak would have ended if the season started with replacement players and Ripken remained on strike, but the owners and players reached an agreement before opening day and Ripken ultimately ended up extending his record run to 2,632.
Angelos also fought for years to create an exhibition series between the Orioles and Cuba's national team, a quest that reached fruition in 1999. On March 28, the Orioles played in Havana while Angelos sat alongside Cuban leader Fidel Castro. The teams met again on May 3 at Oriole Park at Camden Yards.
The series marked the first time the Cuban national team had faced a squad composed solely of major league players, and the first time since 1959 a big league club played in Cuba.
- In:
- Baltimore
- Major League Baseball
veryGood! (244)
Related
- 2025 COLA estimate dips with inflation, but high daily expenses still burn seniors
- Under $50 Necklaces We Can't Get Enough Of
- TikTok content creator Taylor Rousseau Grigg died from rare chronic condition: Report
- Road rage shooting in LA leaves 1 dead, shuts down Interstate 5 for hours
- Hurricane Ernesto aims for Bermuda after leaving many in Puerto Rico without power or water
- MLB moves start of Tigers-Guardians decisive ALDS Game 5 from night to day
- Anderson Cooper Has the Perfect Response to NYE Demands After Hurricane Milton Coverage
- Why Remi Bader Stopped Posting on Social Media Amid Battle With Depression
- 'Truffles is just like me:' How a Pennsylvania cat makes kids feel proud to wear glasses
- Montana businessman gets 2 years in prison for role in Jan. 6, 2021, insurrection at the US Capitol
Ranking
- 2025 COLA estimate dips with inflation, but high daily expenses still burn seniors
- Experts warn ‘crazy busy’ Atlantic hurricane season is far from over
- When is Tigers-Guardians Game 5 of American League Division Series?
- Penn State vs USC highlights: Catch up on all the top moments from Nittany Lions' comeback
- Alabama lawyer accused of sexually assaulting handcuffed inmate, lawsuit says
- Suspect in deadly Minnesota crash convicted of federal gun and drug charges
- San Jose Sharks' Macklin Celebrini dealing with injury after scoring in debut
- Fossil Fuel Interests Are Working To Kill Solar in One Ohio County. The Hometown Newspaper Is Helping
Recommendation
-
51 Must-Try Stress Relief & Self-Care Products for National Relaxation Day (& National Wellness Month)
-
'Pumpkins on steroids': California contest draws gourds the size of a Smart car
-
R. Kelly's daughter Buku Abi claims singer father sexually assaulted her as a child
-
The 2 people killed after a leak at a Texas oil refinery worked for a maintenance subcontractor
-
Conservative are pushing a ‘parental rights’ agenda in Florida school board races. But will it work?
-
Tammy Slaton's Doctor Calls Her Transformation Unbelievable As She Surpasses Goal Weight
-
Erin Andrews Reveals Why She's Nervous to Try for Another Baby
-
Pilot in deadly California plane crash didn’t have takeoff clearance, airport official says