Orioles hired Goldman to assess sale, source says, but litigation likely to keep team with Angelos for now [$]

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The Baltimore Orioles quietly hired Goldman Sachs months ago to assess the prospects for selling the team, sources told The Athletic, but the future of the team’s ownership is still very much up in the air, given the ongoing bitter lawsuits between members of the Angelos family.

Owner Peter Angelos, 93, is ailing. His son, Louis Angelos, filed a lawsuit four months ago against his brother John and his mother, Georgia, to force a sale of the team. Louis contends in the lawsuit that Georgia, who stands to inherit the team when her husband passes away, wants to sell the team.

It might seem somewhat incongruous that Louis would sue his brother, who is chairman and CEO of the team, to force a sale when the club had already hired Goldman.

The Orioles declined to comment.

As part of Louis’ lawsuit over the Angelos trust and the future of the team, two subpoenas were served on Goldman Sachs, according to the case docket, which confirmed the subpoenas were issued on Aug. 21 and Sept. 21. According to John Angelos’  lawyer, they were issued by Louis Angelo’s side. There is a status conference hearing scheduled for Sept. 28.

In the lawsuit, Louis alleges John has manipulated his mother and restructured his father’s trust to take away co-decision making between the brothers.