Stan Kroenke, through Kroenke Sports & Entertainment, has agreed to acquire a controlling stake in the Los Angeles Angels from Arte Moreno, valuing the franchise and its regional sports network at $4 billion. This sale sets a new record for an MLB team, surpassing the $3.9 billion paid for the Padres earlier this year. The deal is anticipated to finalize in the first quarter of 2027, pending approval from Major League Baseball.
Kroenke's portfolio already includes the NFL's Los Angeles Rams, NBA's Denver Nuggets, NHL's Colorado Avalanche, MLS's Colorado Rapids, and Arsenal F.C. of the Premier League. The acquisition was met with enthusiasm from Angels players, with Mike Trout expressing excitement for a "fresh start."
Arte Moreno, who became the first Latino majority owner in MLB when he bought the Angels from The Walt Disney Co. in 2003 for $184 million, will retain a small stake in the team. Moreno had previously attempted to sell the team in August 2022 but backed out nine months later. His tenure, while initially marked by success and increased attendance, saw the team consistently miss the playoffs since 2010 despite signing star players like Albert Pujols and Shohei Ohtani. Moreno faced criticism for his involvement in baseball operations and lack of investment in resources.
