Stan Kroenke Purchases Los Angeles Angels

Fans of the Los Angeles Angels witnessed a major change as Stan Kroenke, owner of multiple sports franchises, bought the team. This acquisition officially marks the end of Arte Moreno’s ownership. The past two decades under Moreno were marked by setbacks, disappointing campaigns, and front-office issues. Heeding calls from fans, Moreno finally decided to sell the team.

Billionaire Stan Kroenke’s Kroenke Sports & Entertainment agreed to a $4 billion purchase, setting a new record as the most expensive sale in Major League Baseball history. Kroenke, who owns the Rams, Nuggets, and Avalanche, is expected to guide the Angels out of their longstanding struggles.

“The Angels are a storied franchise anchored in a great market,” Kroenke expressed in a statement, highlighting a hopeful future for the organization. The acquisition eclipses the previous record sale of the Padres at $3.9 billion, as well as Steve Cohen’s $2.4 billion purchase of the Mets.

“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.”

The sale parallels major deals in the sports industry, such as Mat Ishbia’s $4 billion purchase of the Phoenix Suns. However, it still falls short of the Denver Broncos’ $4.65 billion and Washington Commanders’ $6.05 billion sales.

Moreno acquired the Angels in 2003 for $184 million, shortly after they won their sole World Series title. Despite the team’s rich history, they haven’t made the playoffs since 2014, the longest dry spell in the league. The team garnered a reputation for mismanaging talents like Mike Trout and Shohei Ohtani. The ill-advised contracts for aging stars, deterioration of the farm system, and a revolving door of leadership further added to the team’s woes.

Moreno previously toyed with the idea of selling the team in 2023 but reversed his decision, citing unfinished business. The fans remained loyal, consistently filling Angel Stadium. This loyalty transformed into celebrations when Moreno’s departure became certain.

Under Kroenke’s leadership, the Angels aim to rejuvenate, drawing on Kroenke’s championship success with the Rams, Nuggets, and Avalanche. The transaction will officially conclude around early 2027, pending MLB’s approval. Meanwhile, the Moreno era is conclusively over.