Angels fans have witnessed a significant change. Arte Moreno’s ownership has concluded after two decades marked by missed opportunities and managerial turmoil. Moreno has consented to sell the team, which many enthusiasts have long desired.
Stan Kroenke, a billionaire who owns the Rams, Nuggets, and Avalanche, is acquiring the Angels for $4 billion. This transaction sets a new record for the most expensive sale in Major League Baseball history.
Kroenke’s acquisition eclipses the Padres’ previous record sale of $3.9 billion. Additionally, it surpasses Steve Cohen’s $2.4 billion purchase of the Mets.
“The Angels are a storied franchise anchored in a great market,” Kroenke stated. “We look forward to an exciting future with the Angels organization.”
Across American sports, the $4 billion price resembles Mat Ishbia’s purchase of the Phoenix Suns but ranks below the Denver Broncos’ sale for $4.65 billion and the Washington Commanders’ sale for $6.05 billion.
Moreno initially bought the Angels for $184 million in 2003, shortly after their only World Series title. Reflecting on the sale, he expressed gratitude for stewarding the team for 23 years.
The Angels have been absent from the playoffs since 2014, representing the longest active postseason drought in MLB. Critics have often ridiculed the team for not capitalizing on the talents of players like Mike Trout and Shohei Ohtani, even when both were on the roster. Ohtani eventually left for the Dodgers, winning a World Series, while Trout stayed loyal.
Moreno’s tenure saw several missteps, such as signing expensive contracts with aging stars like Albert Pujols, Josh Hamilton, and Anthony Rendon. The farm system was neglected, and there was a high turnover of leadership, including the firing of GM Perry Minasian in June.
Moreno initially considered selling the team in 2023 but retracted the decision, citing “unfinished business.” This made Tuesday’s announcement of the sale a cause for celebration among fans.
Angel Stadium became the center of festivities as supporters gathered to mark Moreno’s departure. This loyalty to the Angels is evident despite numerous challenges.
Kroenke brings experience from leading championship teams like the Rams, Nuggets, and Avalanche. While the transaction needs MLB approval and won’t officially close until early 2027, the Moreno era has concluded.