David Rubenstein Has a Deal to Buy the Baltimore Orioles for $1.725 Billion, AP Source Says

Co-founder and co-chairman of the private equity firm The Carlyle Group David Rubenstein speaks in the panel "The Global Economic Outlook" on the last day of the World Economic Forum's Annual Meeting in Davos, Switzerland, on Jan. 19, 2024. Markus Schreiber/AP Photo

Carlyle Group Inc. co-founder David Rubenstein has reached an agreement to buy the Baltimore Orioles for $1.725 billion, according to a person with knowledge of the deal.

The person spoke to The Associated Press on condition of anonymity Tuesday night because the agreement had not been announced.