Baseball fans across the Beltway rejoiced on Tuesday as news broke that a David Rubenstein-led group agreed to acquire the Baltimore Orioles from the Angelos family at a valuation of roughly $1.725B.
For Orioles fans, the move means a departure from an ownership family that has been at the center of underwhelming payrolls, decades of underperformance, and more recently, Nashville relocation rumors. There’s new hope that young stars like Adley Rutschman and Jackson Holliday could be extended for years to come, and nostalgia abounding with Cal Ripken Jr. also reportedly part of new ownership.
For the Nationals, the move also has some potentially major implications. Very little of what was reported on Tuesday has any concrete implications for the team, but the sale could very well be the first domino to fall in a series of different ways for the Nats:
A Potential MASN Resolution
The most notable part of the Angelos family selling the Orioles is the fact the family no longer owns Mid-Atlantic Sports Network (MASN), the Orioles-owned regional sports network that broadcasts both Orioles and Nationals games.
It’s been confirmed that MASN was indeed included as part of the sale of the team, so Rubenstein and Co. are now owners of the network.
It remains to be seen what exactly that will mean for the Nationals, and they’re not necessarily “free.” And with Baltimore obviously getting the better end of the MASN bargain, it’s not like the new ownership group is necessarily dying to put the matter to bed if it means a resolution that doesn’t benefit their ballclub.
But the bad blood and pettiness of the Angelos family, who specifically protested the Nationals’ move to DC and has drawn out arbitration hearings over years of Nationals TV revenue, is now gone. And one could certainly see a path to Rubenstein, who previously was reported to be part of a Ted Leonsis-led group attempting to buy the Nationals, having incentive or interest in working out a sale of the team’s rights to his former potential investment partner at some point.
A Potential Nationals Sale
The MASN situation has reportedly been the single largest obstacle in the Lerner family’s ability to sell the Nationals at their desired price. Regardless of whether the team’s TV rights change hands, new ownership in Baltimore at a bare minimum opens up the possibility that the two teams can reach an agreement that creates more financial certainty for Washington. This would also give a clearer picture of the club’s finances to prospective buyers, which would likely open up the flood gates and restart the selling process in full force.
Leonsis has long been at the center of sale rumors, but was also the most logical candidate to have continued interest in the team amidst its TV rights woes, given his reported desire to acquire their rights for Monumental Network. His name will likely continue to come up, but a TV rights resolution would presumably also spark interest from any number of other billionaire types.
Increased Nationals Payroll…At Some Point
The timing around the first two items on this list will certainly impact this one. But one way or another, the sale of the Orioles should indirectly lead to Nationals payroll climbing sooner or later.
The MASN situation is of course at the crux of that. Any degree of resolution on that front would give the club a critical revenue stream that can help support a better on-field product.
Beyond that, one would have to imagine Rubenstein and Co. will be comparably more aggressive than the penny-pinching Angelos family in what they invest in the Orioles. With the club already boasting a plethora of young and controllable talent, even a moderate investment in trades and free agent acquisitions could solidify them as a force for years to come.
Whether the Nationals are owned by the Lerners or another ownership group, the reality is the club will face competition for the more fair-weather fans around the Beltway if there’s a high-end team just up I-95.
That may not spur luxury-tax level investments like the Nationals of old, but it should theoretically incentivize the team to make some degree of investment, if for no other reason than to fight for market share. But again, when that happens will be dictated by when the team’s TV rights situation has some clarity, and subsequently its ownership situation.