Angels owner Arte Moreno has agreed to sell the team to billionaire Stan Kroenke, owner of the NFL’s Los Angeles Rams, reports Sam Farmer of the L.A. Times. It’s a stunning and out-of-the-blue development. Moreno explored a sale of the Angels a few years ago but wound up pulling the team off the market. As of Jan. 2023, Moreno said he was no longer pursuing a sale of the team he’d owned since 2003.
The acquisition of the Angels adds to an immense portfolio of sports team for Kroenke. In addition to being the principal owner of the Rams, the 79-year-old real estate mogul owns the majority stake in the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, Major League Soccer’s Colorado Rapids, and the English Premier League’s Arsenal FC.
“The Angels Organization is pleased to announce this transaction with Kroenke Sports & Entertainment,” Moreno said in a press release announcing the sale. “The Moreno Family has been honored to steward the Angels for 23 years and we believe with KSE’s experience and success they are the best next owner for the franchise. The Angels Organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners.”
More to come.
