By Mark Hyman
June 19, 1993
The group, which is led by Baltimore lawyer Peter G. Angelos, announced the new investors yesterday. In addition to McKay, who lives in Monkton, and Shriver, a Lutherville native, they are:
Richard Rotner, who heads a commercial real-estate company in Baltimore and Washington; Wayne Gioioso Sr., a real-estate developer in Baltimore; Edward Brush, a lawyer and businessman in Columbia; and Roger R. Blunt, a former major general in the U.S. Army and vice chairman of the University of Maryland Board of Regents.
Blunt, who is black, is the first member of a minority group to join the Maryland investors. He lives in Bethesda. Major League Baseball has been criticized for its lack of minority owners.
Blunt could not be reached for comment yesterday. Shriver and McKay also were unavailable.
In addition to Angelos, previously announced investors in the group include clothing magnate Leonard "Boogie" Weinglass, novelist Tom Clancy, film director Barry Levinson and Baltimore contractor Henry J. Knott Sr.
A spokesman for the group said late yesterday that Angelos has heard from "a large number" of people who want to become investors but that Angelos only expected to add one or two more partners because "there is a desire to keep it small."
The Angelos investors are one of five groups seeking to buy the Orioles from owner Eli S. Jacobs, who entered personal bankruptcy two months ago with debts that exceeded assets by more than $170 million.
Any sale of the Orioles must be approved by a judge in the U.S. Bankruptcy Court for the Southern District of New York, which is overseeing the reorganization of Jacobs' finances.
Last week, Jacobs filed with the court a contract to sell the team to investors led by Cincinnati businessman William O. DeWitt Jr., and the owner and his creditors asked the bankruptcy judge to approve rules under which the sale of the team would be completed.
Several of the groups have been critical of the proposed rules, which would pay the DeWitt investors up to $3.25 million if the team is sold to other investors. Yesterday, the Angelos group filed papers with the court objecting to the rules and asking Judge Cornelius Blackshear not to approve them.
Blackshear is expected to consider that issue at a hearing in New York on Tuesday.
By that time, the Angelos investors may have submitted their bid for the Orioles, according to Chris Hartman, the group's spokesman. He said the Maryland group expected to file its offer with the court "in the next few days," and he said it would top the contract from the DeWitt group.
"It is the group's intention to exceed any other offers before the court," Hartman said.
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