ANAHEIM, Calif. (AP) — Kroenke Sports and Entertainment says it has reached a deal to purchase the Los Angeles Angels from Arte Moreno.
The company led by Stan Kroenke made the surprising announcement Tuesday, saying it expects to close the transaction in early 2027.
Kroenke’s company owns the NFL’s Los Angeles Rams, Arsenal of the English Premier League, 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 arena. The company has now added the Angels, whose turbulent 23-year tenure under Moreno’s ownership will finally come to an 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, an outdoor advertising magnate from Arizona, 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, the Halos have entered a decline since winning their most recent playoff game in 2009.
The Angels are currently headed to their 11th consecutive losing season and their 12th consecutive non-playoff season, both the longest active streaks in the majors.
They’ve made the playoffs just once during the career of three-time AL MVP outfielder Mike Trout, who teamed with two-time AL MVP Shohei Ohtani for six straight seasons with no success.
A significant portion of the Angels’ struggles can be attributed to the 80-year-old Moreno, who repeatedly inserted himself into personnel decisions. While he spent aggressively in his attempts to build a winner, his biggest moves usually backfired, with a series of high-profile acquisitions who produced a fraction of their anticipated impact.
The Angels have also endured numerous troubles off the field during Moreno's tenure, from the drug-related death of pitcher Tyler Skaggs to numerous smaller scandals.
The Angels remained a healthy box office draw to their loyal Orange County fans during most of his tenure, but the fan base had lost patience in recent years. Angel Stadium's slightly smaller crowds this season have regularly chanted “Sell the team!”
The lack of success also began to wear on Moreno, whose children reportedly aren't interested in carrying on in the baseball business. Moreno publicly explored a sale of the Angels in 2022, only to pull the team off the market in early 2023.
“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,” Moreno said in a statement. “The Angels organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners.”
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