$183.5 million in, several billion out
Arte Moreno paid $183.5 million for the Los Angeles Angels in 2003. He is selling for a number nobody wants to say out loud.
Kroenke Sports & Entertainment confirmed Tuesday it has agreed to buy a controlling stake in the franchise. The deal should close in the first quarter of 2027, pending approval from MLB and its owners.
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Above the Padres, above everything
No fee was disclosed. The Los Angeles Times reports it clears the $3.9 billion paid for the San Diego Padres earlier this year, which stood as the MLB record until now. Owners signed off on that one in August.
Kroenke does not lack for teams. The Denver-based group already holds the Rams in the NFL, the Nuggets in the NBA, the Colorado Avalanche in the NHL, the Colorado Rapids in MLS, Arsenal men’s and women’s sides in England, plus a pro lacrosse team in Colorado.
Stan Kroenke also built the 300-acre Inglewood complex south of Los Angeles, anchored by SoFi Stadium. That project ran past $5 billion, opened in 2020, hosts a second Super Bowl at the end of next season and then the 2028 Olympic and Paralympic Games.
Twenty-three years, one October appearance in the last sixteen
Moreno hands over a club in a bad way. He bought in 2003 as the first Mexican-American owner of a major US franchise, inheriting a team that had won the World Series the year before under Walt Disney Co.
Five playoff berths in his first seven seasons. Then almost nothing. One postseason trip in 16 years, zero playoff wins in that span.
Mike Trout has been there since 2011. Twelve All-Star selections, one October, in 2014, swept by Kansas City. Six of those seasons came with Shohei Ohtani in the same clubhouse. Between 2014 and 2023 the two of them won five MVP awards in Angels uniforms and never played a playoff game together.
Fans have spent months chanting for a sale during home games. The club sits at 53-85, headed for an 11th consecutive losing season.
“The Angels are a franchise with history, in a major market,” Kroenke said in the statement. Moreno pointed to his 23 years in charge and called KSE “the best next owner for the franchise”.
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