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.
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