ANAHEIM, Calif. (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 the transaction in early 2027. Major League Baseball, which must approve any sale, didn't immediately comment on the news.
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 arena. The conglomerate has now moved into baseball with 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, winning five AL West titles in six seasons during the 2000s, the Halos have entered a period of 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 majors.
Incredibly, they’ve made the playoffs just once during the 16-year 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.
In sharp contrast, Kroenke's teams consistently have been among their sports' absolute best in recent seasons.
The Rams, the Avalanche, the Nuggets and Arsenal have all won championships in their respective leagues over the past five years, and all four teams remain serious title contenders during a renaissance for an ownership group that was once criticized for its early struggles in English soccer and its decision to move the Rams from St. Louis back to Los Angeles.
A significant portion of the Angels’ struggles over the past two decades can be attributed to the 80-year-old Moreno, who has repeatedly inserted himself into personnel decisions while presiding over the rest of his organization with much less interest or acumen.
While he spent aggressively on payroll 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. His acquisitions of Anthony Rendon, Gary Matthews Jr., Josh Hamilton and many others were expensive disasters, while even his landmark $240 million free-agent contract for Albert Pujols didn't result in the homers or the victories expected from the price tag.
Moreno has been roundly criticized for skimping on infrastructure, resources and support staff throughout his organization compared to other MLB teams. 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.
Despite Moreno's much-derided decision to change the franchise's name from the Anaheim Angels in an attempt to build a more national brand, the team remained a healthy box office draw to its 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!” and derided Moreno by name.
The lack of success clearly 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.
Significant positive change occurred earlier this year when Moreno fired general manager Perry Minasian and hired John Mozeliak on a temporary basis to run his baseball operations. Mozeliak, the longtime St. Louis Cardinals baseball boss, has already made significant changes to reshape the long-stagnant operation while starting a rebuild of sorts after years of resistance from Moreno.
“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.”
Moreno, a Mexican-American, was the majors' first Latino majority owner, and he remained the only one until Puerto Rico-born billionaire José E. Feliciano closed his purchase of the San Diego Padres last month. Latino and Hispanic players comprise roughly 30% of major league rosters.
Kroenke Sports and Entertainment will be only the fourth permanent owner of the Angels, who were founded as an AL expansion club in 1961 by early Hollywood star Gene Autry. His widow, Jackie, temporarily owned the team for a year after his death before selling it to Disney in 1999.
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AP MLB: https://apnews.com/MLB
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