Photo: Meg Oliphant / Getty Images Sport / Getty Images
ANAHEIM (CNS) - Rams owner Stan Kroenke announced Tuesday he is purchasing the Los Angeles Angels from longtime owner Arte Moreno. A controlling interest in the Angels will be acquired by Kroenke Sports & Entertainment, with the deal expected to close in the first quarter of 2027, subject to approval by Major League Baseball. Financial terms of the transaction were not disclosed.
"The Angels are a storied franchise anchored in a great market," Kroenke said. "We look forward to an exciting future with the Angels organization." The sale would end the Moreno family's 23-year ownership of the Angels.
Moreno purchased the Angels from The Walt Disney Co. for $183.5 million in 2003, a year after the franchise won its first and only World Series championship. Major League Baseball owners unanimously approved the sale in May 2003, making Moreno the first Latino controlling owner in MLB history. The Angels enjoyed their greatest sustained stretch of regular-season success early in Moreno's tenure, winning American League West titles in 2004, 2005, 2007, 2008, 2009 and 2014. The team later endured a prolonged postseason drought despite featuring stars including Mike Trout and Shohei Ohtani.
Moreno announced in August 2022 that his family had begun exploring a possible sale of the franchise. Five months later, however, the family ended the process and announced it would retain ownership, with Moreno saying at the time that the family had "unfinished business" with the team. It has been a rocky several years for the franchise off the field. Former Anaheim Mayor Harry Sidhu was sentenced last year to two months behind bars for his role in the failed sale of the Angel Stadium property, while a state audit raised concerns about access for stadium inspections and revenue- sharing terms in the team's lease. Also last year, details about the Angels' front office were aired publicly during a civil trial stemming from the 2019 overdose death of pitcher Tyler Skaggs. Weeks of testimony detailed how former team public relations executive Eric Kay provided painkillers to several players, including Skaggs. Kay was convicted in federal court on drug charges and sentenced to 22 years in prison.
Skaggs' family settled the lawsuit for an undisclosed amount while jurors were deliberating.
Orange County Board Chairman Doug Chaffee, who has been an Angels fan since the team's days in the Pacific Coast League, said he was optimistic about the change in ownership. "He's made a success out of his Rams, that's for sure," Chaffee told City News Service. "I think he also knows how to develop real estate, which has been an issue with the city. It's kind of what fans were hoping for -- a change in ownership... We haven't had a winning year for a dozen seasons."
Chaffee recalled cheering for players such as Steve Bilko and Gene Mauch when they played for the Pacific Coast League Angels in the 1950s. "We've had some great players but not at the same time," Chaffee said.
Chaffee noted that the Angels were not widely viewed as World Series contenders entering the 2002 season. "They weren't supposed to win that year, but we did and that made it even more fun," Chaffee said.
As for the years when the Angels featured Trout and Ohtani, Chaffee said, "It takes a little bit more than two guys. You need some good pitching for one. They didn't seem to have a whole team."
Chaffee also pointed to the widely criticized blockbuster contract given to Anthony Rendon, who missed significant playing time because of injuries.
"The Angels Organization is pleased to announce this transaction with Kroenke Sports & Entertainment," Moreno said in a statement. "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 Organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners."
The acquisition would expand Kroenke's Southern California sports holdings. Kroenke-affiliated entities own the Rams and developed SoFi Stadium and the surrounding 300-acre Hollywood Park district in Inglewood.
KSE's other sports holdings include the Denver Nuggets of the NBA, Colorado Avalanche of the NHL, Colorado Rapids of Major League Soccer, Colorado Mammoth of the National Lacrosse League and Arsenal Football Club of the English Premier League. The company also owns and operates SoFi Stadium, Ball Arena in Denver and DICK'S Sporting Goods Park in Commerce City, Colorado, along with media properties.
The Angels joined Major League Baseball as an expansion team in 1961. Completion of the sale remains subject to customary closing conditions and MLB approval.