If the contract is clear and it goes to an arbitrator that all sides have agreed on then Angelos will end up on the short end of the stick IMO. He can threaten to sue all he wants but it sure seems like he's already a pariah among other owners. Selig seems to have the owners in line and I just don't see Angelos going nuclear with a huge lawsuit.
It's not like the lerners shy away from litigation; angelos can bluster, but old teddy may be his match