Major League Baseball's ownership committee has voted to approve private equity heavyweight David Rubenstein's purchase of the Baltimore Orioles, according to sources.

The sale could be finalized by April.

The sale from the Angelos family, which bought the team for $173 million in 1993, is expected to be for $1.725 billion.

The three-step approval process now moves from the league's ownership committee to its eight-man executive council. Should the council approve the deal as well, it would then move to a full ownership vote, which would require 23 of 30 votes to formalize the sale.