MLB unanimously approves David Rubenstein's purchase of the $1.725bn Baltimore Orioles... as billionaire group takes charge just four days after the death of long-time owner Peter Angelos

The Baltimore Orioles are officially under new ownership after Major League Baseball unanimously approved private equity billionaire David Rubenstein's takeover of the $1.725billion franchise.

The sale will eventually give Rubenstein and his ownership group 70% of the team, and he is now in control less than two months after initially agreeing to buy from the Angelos family.

The deal got over the line just four days on from the death of long-time owner Peter Angelos, who died on Saturday at the age of 94 after battling illness for 'several years'.

The $1.725bn valuation of MLB's Orioles is the third-highest for the sale of a baseball team, behind Steve Cohen's $2.4bn New York Mets purchase, and the LA Dodgers' $2.15bn sale to Mark Walter in 2012.

The Angelos family had been in charge of the Orioles since 1993, when they originally purchased the team for $173m.

Taking to X after the deal was secured, Rubenstein joked: 'I'm breathing again...MLB just unanimously approved the deal! @orioles, the Next Chapter has begun! Go O's!'