Newz(AP) — Kroenke Sports and Entertainment has reached a deal to purchase controlling ownership of the Los Angeles Angels from Arte Moreno, expanding its sprawling empire of teams across every major U.S. professional sport with the addition of the beleaguered baseball club. The company led by Stan Kroenke made the surprising announcement Tuesday, saying it expects to close on the transaction in early 2027.
Major League Baseball, which must approve any sale, didn’t immediately comment on the news, but The Athletic reported the deal is being done at a $4 billion valuation — a record for an MLB team. Kroenke’s company owns the NFL’s Los Angeles Rams, Premier League champion Arsenal, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, Major League Soccer’s Colorado Rapids and SoFi Stadium, along with the large Hollywood Park campus around the multibillion-dollar Inglewood venue. The conglomerate has now moved into baseball with the Angels, whose turbulent 23-year tenure under Moreno’s stewardship will finally end.
“The Angels are a storied franchise anchored in a great market,” Kroenke said in a statement. “We look forward to an exciting future with the Angels organization.” Moreno will remain a minority owner of the club in the sale, which also includes the team’s regional television network and radio station. When the players arrived at Angel Stadium to face the Yankees, they uniformly said the news had been shocking.
Mike Trout, the three-time AL MVP who has spent his entire 16-year career in Anaheim without winning a single playoff game, expressed his gratitude to Moreno while hailing the deal as “just a fresh start.” “I mean, you kind of felt it was needed,” Trout added. “No hard feelings against Arte, but I’m super excited, the guys are excited. There’s a good vibe around the clubhouse, around the stadium.
We’re all excited.” Moreno bought the Angels from the Walt Disney Company in 2003. While the club had steady success in its first years under Moreno with much of the roster that won the 2002 World Series, claiming five AL West titles in six seasons during the 2000s, the Halos have entered an era of profound decline since their most recent playoff victory in 2009. At 53-85, the AL-worst Angels are currently headed to their 11th consecutive losing season and their 12th consecutive non-playoff season, both the longest active streaks in the…
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