Baltimore Orioles owner Peter G. Angelos will meet with Major League Baseball officials again today with a goal toward concluding a compensation package that would offset the impact a Washington team will have on the Orioles, according to sources close to the negotiations.
Angelos is seeking a compensation package that will guarantee the value of the Orioles, as well as the state's investment in its Camden Yards baseball facility, in the event that a Washington team drains fans and money from the Baltimore franchise.
Angelos and MLB President Robert A. DuPuy, who have headed the negotiations so far, declined to comment.
Baseball is attempting to reach a settlement with Angelos before the league begins the process of selling the Montreal Expos, the team baseball plans to move to Washington next year over Angelos's objections. The team is owned by baseball's 29 owners and they are anxious to sell the franchise.
Angelos and baseball apparently have agreed on many of the details, including a 60-40 split of the revenue from a new Baltimore-Washington regional sports network, with Baltimore receiving the majority of the money. Baseball also has apparently agreed to guarantee that the Orioles would not sell for less than approximately $360 million as well as guarantee that the team will earn a minimum amount of revenue, sources familiar with the negotiations have said.
Another point is how long the guarantee will last. Angelos wants it in effect as long as a member of his family owns the Orioles.
-- Thomas Heath