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The Los Angeles Angels have a new owner. Stan Kroenke, the owner of the Los Angeles Rams, announced today (Tuesday, September 1) that he has reached an agreement to purchase the team from Arte Moreno and his family. The sale price has not been disclosed, and the deal awaits approval from Major League Baseball (MLB) owners.
Moreno, who has owned the Angels for 23 years, oversaw a period marked by a postseason drought that is expected to reach 12 years this season. Despite featuring stars like Mike Trout and Shohei Ohtani, the team has struggled to reach the playoffs. Moreno's tenure began with promise, but has been marred by controversies, including a failed stadium deal and a lawsuit related to the death of pitcher Tyler Skaggs.
Kroenke, who was a runner-up in the Dodgers' bidding in 2012, is expected to bring his expertise in sports management to the Angels. His acquisition could lead to significant changes, including potential redevelopment around Angel Stadium, similar to his developments around SoFi Stadium. The Angels' lease at their current stadium expires in 2029, with options to extend through 2038.
The sale is part of a larger trend of MLB team sales, with other teams like the Washington Nationals also on the market. The Angels' proximity to Los Angeles and potential for real estate development make them an attractive purchase. The sale is expected to be completed once MLB owners approve the transaction.