Peter G. Angelos, who enjoyed enormous success as a lawyer but garnered a more mixed record as the longtime owner of the Baltimore Orioles, died on Saturday. He was 94.

His death was confirmed in a statement from his family that was posted on the team’s social media account. It did not specify where he died.

Mr. Angelos had been dealing with serious heart problems since 2017, which led to infighting in his family about control of his fortune and of the Orioles. In January, the Angelos family agreed to sell their controlling stake in the franchise to a group of investors headed by the financier David Rubenstein and the former Orioles infielder Cal Ripken Jr. Major League Baseball has yet to approve the deal.

Mr. Angelos’s wealth came in large part from a few huge cases that it took him years to win. Over 15 years, he litigated a series of asbestos-poisoning cases on behalf of Baltimore’s laborers in heavy industry, particularly steel, which resulted in a billion-dollar settlement. Mr. Angelos was awarded a third of the total in the early 1990s.

A few years later, he began working on behalf of Maryland to sue tobacco companies for Medicaid funds spent on sick smokers. In 1998, the state reached a settlement worth $4.4 billion, and in 2002, Mr. Angelos came to an agreement with Maryland to accept $150 million for his work on the case.

In 1993, shortly after winning the asbestos case, he became the lead investor in a $173 million purchase of the Orioles. At the time, it was the highest amount ever paid for a professional sports team in the United States, and the Orioles were baseball’s most profitable team.


source

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Inexpensive Add-on Spawns a New Era of Machine Guns

Caison Robinson, 14, had just met up with a younger neighbor on…

The Iowa State Fair Continues Friday, as Republican Candidates Seek a Moment

The butter cow is carved. The pork chops are prepped. And the…

Company Recalls Ice Cream Products Over Listeria Contamination Concerns

An ice cream company based in Brooklyn has issued a recall of…

Trump Indictment Presents New Obstacle in Spending Fight as Shutdown Looms

The political furor over the indictment this week of former President Donald…