Stan Kroenke, owner of the Los Angeles Rams, agreed earlier this month to buy the Los Angeles Angels from Arte Moreno, MLB.com reported. The transaction is expected to close in the first quarter of 2027, subject to approval from Major League Baseball. Moreno will keep a minority stake after 23 years as the controlling owner.
The sale values the franchise at a reported $4 billion, an MLB record that passes the $3.9 billion paid for the San Diego Padres, CBS Sports reported. Moreno bought the Angels from the Walt Disney Company in 2003 for $180 million.
Kroenke's sports portfolio
The Angels would join a portfolio that already includes teams in the NFL, NBA, NHL, MLS, the Premier League and the National Lacrosse League. Kroenke owns:
- Los Angeles Rams (NFL), winners of Super Bowl LVI
- Denver Nuggets (NBA), 2023 NBA champions
- Colorado Avalanche (NHL)
- Colorado Rapids (MLS)
- Arsenal (Premier League)
- Colorado Mammoth (NLL)
The price lands in a year of record franchise sales. Uristocrat covered the NBA's approval of the $6.1 billion Celtics sale and Tom Dundon's $4.25 billion Trail Blazers purchase.
The team Kroenke is buying
The Angels were 53-85 when the sale was announced, tied for the worst record in the American League, per MLB.com. The club has missed the postseason for 11 straight seasons, the longest active drought in MLB, according to CBS Sports.
The ballpark is the other open question. Angel Stadium's lease runs through 2032, with two extension options that could keep the team there through 2038, MLB.com reported.
Angels president Molly Jolly called Kroenke's track record "fantastic for the organization."
Source: MLB.com, CBS Sports
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