BALTIMORE — The Angelos family has reached an agreement to sell the Baltimore Orioles to a private equity billionaire, David Rubenstein, according to a source with direct knowledge of the deal. Rubenstein is set to take over as the team’s control person as part of the deal, which values the team at $1.725 billion.

The Angelos family has owned the Orioles since Peter Angelos bought them for $173 million in 1993. Legal documents from 2022 revealed that the longtime owner wished for the team to be sold following his death so his wife, Georgia, “could enjoy the great wealth they had amassed together.” His elder son, John, has been the team’s control person since 2020.

Rubenstein is a Baltimore native, philanthropist and founder of the Carlyle Group. Puck News, which was the first to report the sale, said he will initially assume a 40% ownership stake with an agreement to purchase the remaining equity upon the death of the family patriarch, Peter Angelos. The family would be subject to significant capital gains taxes if the team is sold before his death.

The Orioles did not immediately respond to requests for comment.

Bloomberg reported in December that Rubenstein was among the suitors in talks to purchase the team, but potential investors had been inquiring about the availability of the franchise since Angelos’ health began to decline in 2017.

BLUE JAYS: Infielder Justin Turner agreed to a $13 million, one-year contract, a person familiar with the deal said.

Turner, 39, hit .276 with 23 homers, 96 RBI and an .800 OPS last season for Boston. Turner, a two-time All-Star, spent the previous nine seasons with the Los Angeles Dodgers.

Toronto has been eager to add offense to a team that struggled to score last season. He was a designated hitter 98 times last year while appearing 41 times in the infield. Free-agent Matt Chapman played third base for Toronto last season.

ROYALS: Kansas City finalized a $4.5 million, one-year contract with utilityman Adam Frazier, rounding out a vastly overhauled club by adding a left-handed bat and some versatility to its lineup.

Frazier will make $2 million this season as part of a deal that includes an $8.5 million mutual option for 2025 with a $2.5 million buyout.

MARINERS-ROYALS: Seattle acquired infielder/outfielder Samad Taylor from Kansas City for a player to be named or cash.

Taylor made his major league debut last season, appearing in 31 games for the Royals. He hit .200 with 11 runs and eight stolen bases in 31 games. Taylor flourished at Triple-A Omaha, batting .302 with 23 doubles, 55 RBI, 43 stolen bases and an .884 OPS in 89 games last season.

Taylor, 25, also played four positions after being called up to Kansas City.

RANGERS: Shortstop Corey Seager, the World Series MVP, had surgery for a left sports hernia repair and will miss most of spring training.

General Manager Chris Young said Seager had the surgery in Arizona, where the team holds spring training, and will remain there for rehabilitation. The Rangers hope Seager will be ready by opening day.

“I’m not going to commit to a hard timeline,” Young said. “The hope is that by the end of spring, he’ll have resumed baseball activity and will be pretty close to full speed at that point.”

Young said the hernia issue came up during the postseason, when Seager was getting some minor treatment.

METS: Adam Ottavino and the team finalized a $4.5 million, one-year contract that keeps the veteran reliever with his hometown team.

Ottavino spent the past two seasons with the Mets, going 1-7 with a 3.21 ERA and a career-best 12 saves in 66 appearances last year. In early November, he declined a $6.75 million player option for 2024 that included approximately $4 million in deferred money, reducing the value to an estimated $4.4 million.