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Kroenke to buy controlling interest in Angels
In a surprise development that puts an end to a tumultuous ownership tenure, longtime Los Angeles Angels owner Arte Moreno agreed to sell the team to Stan...
Key points
- In a surprise development that puts an end to a tumultuous ownership tenure, longtime Los Angeles Angels owner Arte Moreno agreed to sell the team to Stan Kroenke, who presides over the NFL's Los Angeles Rams.
- "The Angels are a storied franchise anchored in a great market," Kroenke wrote in a statement.
- "We look forward to an exciting future with the Angels organization." Moreno, the first Latino majority owner in MLB, purchased the Angels from the Walt Disney Company in 2003, on the heels of their first and only World Series championship, and immediately brought excitement to the franchise by bringing in the likes of Vladimir Guerrero and Bartolo Colon, lowering beer prices and turning the Angels into more of a national brand.
- "The Angels organization is pleased to announce this transaction with Kroenke Sports & Entertainment," Moreno said in a statement.
What happened
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In a surprise development that puts an end to a tumultuous ownership tenure, longtime Los Angeles Angels owner Arte Moreno agreed to sell the team to Stan Kroenke, who presides over the NFL's Los Angeles Rams. "The Angels are a storied franchise anchored in a great market," Kroenke wrote in a statement. "We look forward to an exciting future with the Angels organization." Moreno, the first Latino majority owner in MLB, purchased the Angels from the Walt Disney Company in 2003, on the heels of their first and only World Series championship, and immediately brought excitement to the franchise by bringing in the likes of Vladimir Guerrero and Bartolo Colon, lowering beer prices and turning the Angels into more of a national brand. "The Angels organization is pleased to announce this transaction with Kroenke Sports & Entertainment," Moreno said in a statement. The Angels organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners." Moreno, 80, put the Angels for sale in August 2022 but backed out of a potential deal nine months later. The LA Times first reported the Angels' valuation reaching north of $3.9 billion in the...