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

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

Posted on 19 March 2014 by Nestor Aparicio

IT WAS HOT AS HADES in that lower Manhattan federal courtroom. Jam-packed with bidders, curiosity seekers and baseball fans, the Baltimore Orioles franchise was up for grabs on August 2, 1993, and the bidding was as steamy as the air in the room once the price began to rapidly accelerate into the stratosphere.

The fact that there was any bidding at all was somewhat surprising to Peter G. Angelos, a Baltimore attorney who had begun a power play five months earlier to purchase the Major League Baseball franchise that was being sold off via an auction nearly 200 miles away from its home on the Chesapeake Bay. In the hours leading up to the auction, Angelos managed to turn his sole competitor from a previous suspended bid for the team during June into a partner. William DeWitt Jr., a Cincinnati native whose father once owned the St. Louis Browns in the 1940s and a minority investor in the Texas Rangers, joined Angelos’ celebrity-led local group from Maryland just hours before the bidding was to begin in the sweltering Custom House. DeWitt was promised a role in the operations and management of the club.

It was an amazing coup for Angelos to pull DeWitt from being a worthy, legitimate competitor into a teammate that morning, after convincing him that he’d be involved and an influential part of the eventual winning group. It was shocking that DeWitt had pulled out because several times over the previous eight months, he was convinced that he was already the winning bidder and new owner of the Orioles.

In February 1993, after six months of lengthy, arduous negotiations on a fair price, DeWitt had entered into a deal with Orioles majority owner Eli Jacobs to buy the team for $141.3 million. Jacobs, who was in his final days of semi-liquidity and quietly on the verge of bankruptcy, didn’t have the legal authority to close the deal with DeWitt once the banks seized his assets in March. Instead, the Orioles wound up at auction five months later and suddenly Angelos – with DeWitt now shockingly a member of his ownership team – believed he would emerge victorious without breaking a sweat in the summer heat of The Big Apple.

But that afternoon, after entering the courtroom in what he believed would be a rubber-stamped win, instead he found himself embroiled in a bidding war with a stranger he never strongly considered to being a worthy foil in the fray.

Jeffrey Loria, a New York art dealer and Triple-A baseball team owner, wanted badly to be a Major League Baseball owner. Baltimore native and former NFL player Jean Fugett represented a group led by TLC Beatrice, which featured a rare minority bid for an MLB franchise on that day in New York. One bidder, Doug Jemal of Nobody Beats The Wiz electronics stores, had early interest but bowed out before the steamy auction.

That August day, the bidding began at $151.25 million, which included a “stalking fee” of $1.7 million which was originally awarded to DeWitt’s team because of his vast due diligence and legal work done months earlier when he thought he had won a deal to secure the Orioles in the spring.

George Stamas, who represented Angelos’ group during the bidding process, opened the bidding at $153 million, which was seen as a good faith gesture from the combined bid with DeWitt, which could’ve been perceived as artificially deflating the sale price by judge Cornelius Blackshear. Loria, who was a stranger to the Angelos group, immediately raised it by $100,000. Stamas barked out, “One million more – $154.1!”

And for the next 30 minutes, the bids drew north from the $150 millions into the $160s. With every bid, Loria would raise by $100,000. Stamas, on behalf of Angelos, raised it by $1 million at a time. After 13 rounds of back and forth money, Angelos had the leading bid $170 million. Fugett, who had been completely silent during the auction, asked the judge for a recess.

The request was granted and the judge headed to his chambers.

And, suddenly, it got even hotter in a blazing courtroom on a sweltering day in The Big

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Here are #WNSTSweet16 people who had a dream in Baltimore

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Here are #WNSTSweet16 people who had a dream in Baltimore

Posted on 21 January 2014 by Nestor Aparicio

These are people who’ve inspired, led, built and left or are leaving a legacy that affects people in Baltimore or elsewhere in the world. Some of them dreamed their whole lives, some had one big dream or act that keeps giving, producing and growing. Most of these “dreamers” have an eternal gift to have given something that transcends their initial efforts, legacy or life. Dreamers see the end before many see the beginning. I always think of guys like Walt Disney and the founding fathers of the United States of America, who built things.

Let’s start our list, page by page and go through our rationale and rankings. Feel free to share, feedback or comment with your own lists and ideas.

 

#WNSTSweet16 Dreamers

 

16. John Ziemann

There’s no doubt that John Ziemann had a dream of seeing the NFL back in Baltimore from 1984 through 1995 but unlike many local football fans, he actually did something about it. Something profound and beautiful and well-told by local film rock star Barry Levinson in The Band That Wouldn’t Die, Ziemann’s ability to keep the marching band of the Baltimore Colts together and see it through to the Ravens and two more Super Bowl titles makes him a dreamer who saw his vision to its fruition.

How many times did Ziemann think or hear that his band would die long before – and hell would freeze  before the NFL would return to Baltimore? The Marching Ravens tie the community and its roots back to Johnny Unitas and the Baltimore Colts of 33rd Street more than any other local tradition.

Just for the record, Carroll Rosenbloom and Bob Irsay didn’t make our #WNSTSweet16 cut. They were a part of taking the Baltimore Colts from our city. Ziemann was the loudest and most authentic part of bringing the NFL back.

See next page for No. 15

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