Photo Credit: Getty Images
Los Angeles Angels owner Arte Moreno has agreed to sell a controlling interest in the franchise to Stan Kroenke, ending his 23-year tenure and ushering the team into a new era under one of the most powerful ownership groups in American sports.
Kroenke Sports & Entertainment (KSE), which owns the NFL’s Los Angeles Rams, will acquire the Angels at a valuation of $4 billion. The transaction will likely close in the first quarter of 2027, pending approval from Major League Baseball.
The valuation makes the Angels the most expensive MLB franchise ever sold, surpassing the previous record of $3.9 billion set by the San Diego Padres earlier this year.
“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.”
Kroenke Expands His Sports Empire
The Angels will become the latest addition to KSE’s extensive sports portfolio. The company also owns the NBA’s Denver Nuggets, NHL’s Colorado Avalanche, MLS’ Colorado Rapids, National Lacrosse League’s Colorado Mammoth and Premier League club Arsenal.
KSE also controls SoFi Stadium and the surrounding Hollywood Park development in Inglewood, California. Kroenke relocated the Rams from St. Louis to Los Angeles in 2016 before overseeing the construction of SoFi Stadium.
The Rams reached the Super Bowl during their third season back in Los Angeles and won the championship in 2022. The addition of the Angels gives KSE ownership across all of the major American professional sports leagues.
Moreno’s 23-Year Angels Tenure Ends
Moreno purchased the Angels from The Walt Disney Co. in 2003 for $184 million, shortly after the franchise won its first and only World Series championship.
His early years produced significant success. The Angels won the American League West five times between 2004 and 2009 and drew at least 3 million fans in every season from 2003 through 2019. The club also signed stars such as Vladimir Guerrero, Bartolo Colon, Albert Pujols and Josh Hamilton during Moreno’s ownership.
The franchise’s fortunes changed dramatically over the following decade. The Angels have reached the postseason only once since 2010 and have now secured their 11th consecutive losing season, despite having Mike Trout and Shohei Ohtani on their roster during much of that stretch.
Moreno also faced increasing criticism over the club’s baseball operations, player investments and frequent organizational changes. The Angels had explored a potential sale in 2022 before Moreno withdrew the team from the market roughly nine months later.
More recently, former St. Louis Cardinals executive John Mozeliak joined the organization as a consultant with significant influence over baseball operations, including the front office and coaching staff. Fans, meanwhile, repeatedly voiced their frustration with “Sell the team” chants at Angel Stadium.
Angels Begin New Chapter Under Kroenke
Moreno said his family believes KSE is the right group to take the franchise forward after more than two decades of ownership.
“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.
The sale does not become official until MLB approves the transaction, with the closing currently projected for the first quarter of 2027.
For the Angels, the agreement marks the end of Moreno’s ownership and the beginning of a new chapter under Kroenke, whose success with the Rams and other franchises will bring a vastly different ownership structure to the organization.
