The Peter Principles (Ch. 1): So, just how did Angelos become ‘King’ of Baltimore baseball?

March 19, 2014 | Nestor Aparicio

finances of Loria (or whomever won). In essence, saying: “Where is the money? Do you have it today?”

During the recess, the bankers were fleeing to make calls to see how far they could extend the extra $9 million – and growing – difference in what they truly had and what they were bidding.

After the recess, Loria immediately went to $171 million. Stamas countered with $172 million. Loria said, “173.” Stamas offered $174 million.

After 16 rounds in the sweltering heat of lower Manhattan, Loria condeded defeat.

“Congratulations Mr. Angelos and Mr. Stamas, you have yourselves a baseball team,” Loria said.

It when then when the era of the ownership of Peter G. Angelos began for the Baltimore Orioles.

The bankers were aghast. They were only doing the loans for up to $153 million. Even with the new money of DeWitt and Castellini, it only added another $9 million. The pragmatists bean counters were as ashen faced, almost dejected at the inflated price and the debt load despite knowing about the $40 million in cash. Angelos, Stamas and Steve Geppi along with the Baltimore group had just bought what felt like a lifetime of Christmas mornings and didn’t realize why the bankers were so sullen.

Angelos turned to them and said, “What the hell’s wrong with you guys? You look glum, like someone died. We just won the Orioles!”

One of the bankers said, “Peter, we have no idea how we’re going to come up with the extra 12 million dollars.”

Angelos, ready to celebrate with Diet Cokes at a tavern down the street and come back to Baltimore a local hero – as the “King of the Baltimore Orioles” – wasn’t nearly as concerned.

“Don’t worry,” Angelos told the banker and the accountant. “You’ll figure it out.”

6 Comments For This Post

  1. Franchise Says:


    Is the “stranger” bidder you refer to in this blog the same Jeffrey Loria (spelling Lorie) who is currently the principal owner of the Philadelphia Eagles????? or the previous owner of the Florida Marlins???



  2. Franchise Says:


    Just retribution punishment for the son of the “Chicagoan Carpetbagger” father Robert Irsay would be for Jimmy Irsay to give back all the records, history and HOF induction of 11 BALTIMORE Colt players and coaches back to the Charm City…. That includes all of the media guide propaganda in Indianapolis as well as the Canton, OH sacrilegious nonsense at the Pro Football Hall of Fame….Plus give back the horseshoe and the blue and white colors and name Colts to the City of Baltimore…Roger Goodell are you listening???…This is just punishment for Jimmy Irsay since owners should be held to higher standards….The apple does not fall far from the tree… Robert & Jimmy Irsay are one in the same…absolute garbage….But the Commissioner will simply slap him on the wrist!!!…Jimmy Irsay tried to ransom Art Modell for $44Million for the marketing rites to OUR Baltimore Colts….Voluntarily checked himself into what REHAB clinic?




  3. unitastoberry Says:

    Franchise in the last few days I have heard many taking up for Jimmy. I had nothing against him until he was offered a sizeable amount of money to make things right and return the name to Baltimore. This was before Manning arrived to rescue the Irsays. After he turned that offer down he became garbage in my mind just like his daddy. His genes finally caught up with him and I’m glad he didn’t kill anyone driving around wasted. Sorry no sympathy for him.

  4. Steve from Sandpoint Says:

    Irsay, a A-HOLE just like his dad, wishing the worse for him !!!

  5. charlie Says:

    another important triumph in baltimore sports history, for wnst and nestor. THANKS.

  6. Go Tigers Fan Says:

    Steve from Sandpoint, you may want to check your wishes. What you wish for Irsay, someone could wish the same for YOU.

    The Colts are gone, get over it. You have the Ravens now so the past is past, the present is present.

    Robert Short stole the Senators from me so what did I do? I chose to root for the next closest team to P.G County where I lived at the time. That team I chose was the Orioles and no I don’t give a darn about the Nationals.

    My advice to you – live for the present, not the past.

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