Stan Kroenke to Acquire Los Angeles Angels in $4 Billion Deal

Los Angeles Rams owner Stan Kroenke is set to buy the Los Angeles Angels from longtime owner Arte Moreno for a reported $4 billion, a price that would be the highest ever for a Major League Baseball franchise. The transaction still requires approval from MLB Commissioner Rob Manfred and the league’s other owners.

Moreno released a brief statement saying, "The Moreno Family has been honored to steward the Angels for 23 years." The sale ends Moreno’s ownership that began in 2003 after he purchased the team from Disney.

Kroenke’s sports portfolio already includes the Denver Nuggets, Colorado Avalanche and English Premier League club Arsenal. Analysts note that his acquisition could bring new investment to the franchise, which has not reached the playoffs since 2014 and posted a losing record in each of the past two seasons.

Local officials expressed optimism about the change in ownership. Anaheim City Councilmember Natalie Rubalcava said, "Excited to leave the controversy and negativity behind and look forward to a new era of Anaheim baseball." The council hopes the new ownership group will address stadium concerns and improve fan experience.

The Angels have faced criticism in recent years over high-profile contracts and a decline in on-field performance, including the loss of star pitcher Shohei Ohtani in free agency. Attendance has also dropped, with the team drawing fewer than 2 million fans in 2023, down from more than 3 million during the early years of Moreno’s tenure.

Kroenke’s purchase is expected to be finalized later this year, after which the new ownership group will work with MLB and local authorities on potential stadium upgrades and other initiatives aimed at revitalizing the franchise.