Arte Moreno sells Los Angeles Angels to Stan Kroenke for $4 billion

Los Angeles Angels owner Arte Moreno announced on Tuesday that he will sell the baseball club to billionaire Stan Kroenke for a reported $4 billion. The transaction, which is expected to be approved by the league in the coming weeks, ends Moreno’s 24-year ownership that began after the team’s 2002 World Series win.

Anaheim Mayor Ashleigh Aitken responded to the news with a comment that she felt “like it’s my birthday,” reflecting the city’s longstanding disputes with the Angels over stadium financing and surrounding land development.

During Moreno’s tenure, the Angels have not reached the playoffs since 2014 and have not won a postseason game since 2005, despite having star players such as Mike Trout and Shohei Ohtani. The franchise also underwent two name changes, first to the Los Angeles Angels of Anaheim and later to the Los Angeles Angels, moves that generated mixed reactions from local fans.

Kroenke, who already owns teams in the NFL, NBA, NHL, MLS and English soccer, is expected to continue negotiations with the city regarding a new development project near the ballpark. The mayor indicated interest in discussing the stadium area and the team’s name, suggesting a possible return to the “Anaheim Angels” moniker.

The sale follows a recent trend of major sports franchise owners putting their teams on the market, including the Los Angeles Lakers, San Diego Padres and others. Analysts note that high valuations may be prompting owners to capitalize on current market conditions.

The Angels currently sit near the bottom of the American League standings, tied for the worst record in Major League Baseball.