MLB Deal Favorable To Orioles' Angelos
Guarantees, TV Deal Sweeten Pot
By Thomas Heath and Lori Montgomery
Washington Post Staff Writers
Friday, October 1, 2004; Page A01
Peter G. Angelos could sell the Baltimore Orioles for almost $200 million more than he paid for the team 11 years ago under terms of a deal he is negotiating with Major League Baseball to compensate him for the Montreal Expos moving to Washington, sources said.
Angelos would also receive 60 percent of the revenues from a regional sports network and MLB would guarantee that the Orioles' revenues would never fall below an average of what they earned before the Expos moved here, sources said.
Neither Angelos nor baseball officials would comment publicly on the talks, which are close to being completed.
The value of the deal being discussed is difficult to calculate but it appears to guarantee that the team will always be financially sound under Angelos. The Baltimore attorney led a group that bought the team for $173 million in 1993, and Forbes magazine last April estimated the Orioles' worth at $296 million and local revenues at $129 million in 2003. The regional sports network, which would televise both Orioles and Expos games, has yet to be formed.
The negotiations reflect baseball's desire to make peace with Angelos, who has threatened to block a transfer of a team to Washington. While some legal experts doubt he could prevail in court, baseball is seeking an amicable settlement that would remove all obstacles.
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