Private equity billionaire David Rubenstein purchased the Baltimore Orioles and immediately set a new standard for civic-minded sports ownership by promising to keep the franchise in Maryland.
On My First Million, guest Barry Ritholtz praised the acquisition as an anomaly in the corporate world, noting that Rubenstein "promises the city that it will not move over the next 20 years, and I think he said, 'And I'm gonna keep the beer and hot dog costs the same for the next 10 years.'" Ritholtz added that this civic generosity is "not what you think of when you think of as private equity."
But it is not just cheap hot dogs drawing positive attention; the team's basic stadium logistics are also being used to shame international sports giants. On Fresh Air, host Dave Davies pointed to the Orioles as the gold standard of transparent ticketing in contrast to FIFA's deceptive World Cup practices.
Davies described the straightforward experience of planning a family outing: "typically when you buy a, a sports ticket, I'm gonna go to a game in Baltimore, my daughter lives in Baltimore, so I'm, I was gonna get a Baltimore Orioles game. And you go to the website, and there's a map of the stadium, and you can pick the section, the row, the seat that you..." In an era of hidden fees and opaque seating charts, the Orioles are earning rare praise simply by treating their fans with basic transparency.
As the franchise transitions under its new leadership, sports fans will be watching closely to see if other major league teams follow their lead in prioritizing local goodwill over short-term profits.