Kroenke Sports and Entertainment has sealed a deal to acquire controlling stake in the Los Angeles Angels from Arte Moreno, further expanding its portfolio of sports teams in the United States with the addition of the troubled baseball franchise.
The company, under the leadership of Stan Kroenke, made the unexpected announcement on Tuesday, disclosing that the transaction is anticipated to be finalized in early 2027. Approval from Major League Baseball is required for the sale, and the league has not provided an immediate response to the news.
Kroenke’s enterprise already possesses the NFL’s Los Angeles Rams, Premier League victor Arsenal, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, Major League Soccer’s Colorado Rapids, SoFi Stadium, and the extensive Hollywood Park campus surrounding the multi-billion-dollar Inglewood arena. With the acquisition of the Angels, the conglomerate ventures into the realm of baseball, marking the conclusion of Moreno’s tumultuous 23-year stewardship of the team.
Stan Kroenke remarked, “The Angels are a renowned franchise rooted in a vibrant market. We are excited about the future prospects with the Angels organization.”
Arte Moreno, a billboard advertising tycoon from Arizona, purchased the Angels from the Walt Disney Company in 2003. Despite initial success under Moreno’s ownership, which included a World Series win in 2002 and five AL West titles in six seasons during the 2000s, the team has faced a decline since their last playoff triumph in 2009.
Currently holding a record of 53-85, the Angels rank at the bottom of the AL and are set to experience their 11th consecutive losing season, extending their streak of 12 seasons without making the playoffs, the lengthiest active streak in Major League Baseball.
In stark contrast, Kroenke’s sports franchises have consistently excelled in recent years. The Rams, Avalanche, Nuggets, and Arsenal have all clinched championships in their respective leagues over the past five years and remain strong contenders for future titles. This success represents a turnaround for an ownership group that previously encountered criticism for its initial struggles in English soccer and the relocation of the Rams from St. Louis to Los Angeles.
A significant portion of the Angels’ challenges over the past two decades can be attributed to Moreno, an 80-year-old who has been heavily involved in personnel decisions while demonstrating less interest or proficiency in managing the rest of the organization. Despite significant spending on player salaries in pursuit of success, Moreno’s major acquisitions often failed to deliver the expected impact. High-profile signings like Anthony Rendon, Gary Matthews Jr., Josh Hamilton, and others turned out to be costly disappointments, with even the landmark $240 million contract for Albert Pujols failing to yield the anticipated results.
Criticism of Moreno extends to his alleged neglect of infrastructure, resources, and support staff within the organization in comparison to other MLB teams. The Angels have also encountered various off-field issues during Moreno’s tenure, including the tragic death of pitcher Tyler Skaggs and other controversies.
Despite Moreno’s mixed legacy, the Angels maintained a solid fan base in Orange County during his ownership. However, recent years have seen a decline in fan patience, with crowds at Angel Stadium diminishing, accompanied by chants urging Moreno to sell the team.
Earlier this year, there was a significant development when Moreno dismissed general manager Perry Minasian and appointed John Mozeliak on an interim basis to oversee baseball operations. Mozeliak, a seasoned baseball executive from the St. Louis Cardinals, has initiated substantial changes to revamp the stagnant organization and commence a rebuilding phase after years of resistance from Moreno.
Arte Moreno expressed, “The Moreno family has been privileged to guide the Angels for 23 years, and we believe that with KSE’s track record and success, they are the ideal next owners for the franchise. The Angels organization is committed to its fans, employees, players, and business partners.”
Kroenke Sports and Entertainment will become only the fourth permanent owner of the Angels, who were established as an AL expansion team in 1961 by Gene Autry, a prominent Hollywood figure. Autry’s widow, Jackie, temporarily assumed ownership after his passing before selling the team to Disney in 1999.