Arte Moreno Sells Angels to Stan Kroenke

4 weeks ago 0

The Arte Moreno era for the Los Angeles Angels has concluded. Moreno, who owned the team for two decades, has sold the franchise. Billionaire Stan Kroenke, known for owning the Rams, Nuggets, and Avalanche, purchased the Angels for $4 billion, making this the highest sale in Major League Baseball history.

Kroenke expressed his enthusiasm for the team’s potential, stating, The Angels are a storied franchise anchored in a great market. We look forward to an exciting future with the Angels organization. This sale surpasses the previous record set by the Padres’ sale at $3.9 billion and Steve Cohen’s $2.4 billion purchase of the Mets.

This acquisition aligns with other significant sports transactions. It matches the $4 billion purchase of the Phoenix Suns by Mat Ishbia and trails only the sales of the Denver Broncos at $4.65 billion and Washington Commanders at $6.05 billion.

Moreno acquired the Angels in 2003 for $184 million after their World Series win. He commented on the sale, noting, The Moreno Family has been honored to steward the Angels for 23 years, and we believe with KSE’s experience and success they are the best next owner for the franchise.

The Angels have not reached the playoffs since 2014, marking the longest active postseason drought in baseball. A consistent issue was the squandering of talents like Mike Trout and Shohei Ohtani. While Ohtani moved on to the Dodgers and won the World Series, Trout remained with the Angels.

Under Moreno’s leadership, various questionable decisions were made. These included substantial contracts to aging stars like Albert Pujols and Josh Hamilton, neglecting the farm system, and management changes, such as the firing of GM Perry Minasian in June.

Fans remained loyal throughout, continually supporting the team by attending games, which culminated in a celebration of Moreno’s exit before a game against the Yankees. Although the sale’s finalization awaits MLB approval in early 2027, the Moreno era has ended, paving the way for a new chapter under Kroenke.