How much money do the Orioles make?
The question comes up every time someone in either the local or national media has a notion to explain the Orioles' lack of payroll increase as the result of owner Peter Angelos being cheap about spending on his baseball team. This may be the case. I am prompted to think about it today because of a recent article by ESPN/Grantland's Jonah Keri, who cited Angelos' cheap habits on Orioles spending while saying the Orioles should have gone for Josh Hamilton or Zach Greinke.
WHAT WE KNOW
We know that somewhere in the Angelos fortune, there is (or was, as recently as late 2010) sufficient liquid cash such that he can give two separate $5 million gifts to the University of Baltimore - his alma mater for law school, and mine as an undergraduate - to construct the new law school building at the corner of Charles and Mount Royal Streets. Public money given for the sake of vanity, the cynic might say, with the building being named after his parents. There is also Angelos' anonymous-at-the-time donation of $300,000 to keep open Baltimore's public pools, which were facing closure in the summer of 2010 due to the city having one of its budget crunches. These are not the actions of a complete money-hoarding man.
Does the Orioles' Quiet Offseason Mean Owner Peter Angelos Is Cheap?
Camden Chat | Feb 14