Key facts
- Kroenke Sports and Entertainment, led by Stan Kroenke, has agreed to buy the Los Angeles Angels.
- The sale is from current owner Arte Moreno.
- The transaction is anticipated to be finalized in early 2027.
- Kroenke's portfolio includes the Los Angeles Rams, Arsenal, Denver Nuggets, and Colorado Avalanche.
- The Angels have experienced a prolonged period of decline, with 11 consecutive losing seasons.
Kroenke Sports and Entertainment, led by Stan Kroenke, has reached an agreement to acquire controlling ownership of the Los Angeles Angels from Arte Moreno. The deal, announced Tuesday, is expected to be finalized in early 2027, marking Kroenke's entry into Major League Baseball.
Kroenke's extensive sports portfolio already includes the NFL's Los Angeles Rams, Premier League champion Arsenal, the NBA's Denver Nuggets, the NHL's Colorado Avalanche, and Major League Soccer's Colorado Rapids. The acquisition of the Angels will add a baseball franchise to his collection.
Arte Moreno, who bought the Angels in 2003, will conclude his 23-year ownership. While the team saw success in its early years under Moreno, including a World Series win in 2002, it has since entered a period of decline, marked by 11 consecutive losing seasons and 12 consecutive non-playoff appearances.
Moreno's tenure has been criticized for personnel decisions and a lack of investment in infrastructure and support staff. Despite aggressive payroll spending, high-profile acquisitions often underperformed. The team has also faced off-field issues and declining fan attendance, with crowds chanting "Sell the team!"
Stan Kroenke expressed enthusiasm for the future of the Angels, stating, "The Angels are a storied franchise anchored in a great market. We look forward to an exciting future with the Angels organization." Moreno stated that he believes KSE's experience makes them the best next owner for the franchise.