Rams owner Stan Kroenke to purchase Los Angeles Angels
ANAHEIM (CNS) - Rams owner Stan Kroenke announced today he is purchasing the Los Angeles Angels from longtime owner Arte Moreno.
A controlling interest in the Angels will be acquired by Kroenke Sports & Entertainment, with the deal expected to close in the first quarter of 2027, subject to approval by Major League Baseball.
Financial terms of the transaction were not disclosed.
``The Angels are a storied franchise anchored in a great market,'' Kroenke said. ``We look forward to an exciting future with the Angels organization.''
The sale would end the Moreno family's 23-year ownership of the Angels.
Moreno purchased the Angels from The Walt Disney Co. for $183.5 million in 2003, a year after the franchise won its first and only World Series championship. Major League Baseball owners unanimously approved the sale in May 2003, making Moreno the first Latino controlling owner in MLB history.
The Angels enjoyed their greatest sustained stretch of regular-season success early in Moreno's tenure, winning American League West titles in 2004, 2005, 2007, 2008, 2009 and 2014. The team later endured a prolonged postseason drought despite featuring stars including Mike Trout and Shohei Ohtani.
Moreno announced in August 2022 that his family had begun exploring a possible sale of the franchise. Five months later, however, the family ended the process and announced it would retain ownership, with Moreno saying at the time that the family had ``unfinished business'' with the team.
``The Angels Organization is pleased to announce this transaction with Kroenke Sports & Entertainment,'' Moreno said in a statement. ``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 Angels Organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners.''
The acquisition would expand Kroenke's Southern California sports holdings. Kroenke-affiliated entities own the Rams and developed SoFi Stadium and the surrounding 300-acre Hollywood Park district in Inglewood.
KSE's other sports holdings include the Denver Nuggets of the NBA, Colorado Avalanche of the NHL, Colorado Rapids of Major League Soccer, Colorado Mammoth of the National Lacrosse League and Arsenal Football Club of the English Premier League.
The company also owns and operates SoFi Stadium, Ball Arena in Denver and DICK'S Sporting Goods Park in Commerce City, Colorado, along with media properties.
The Angels joined Major League Baseball as an expansion team in 1961.
Completion of the sale remains subject to customary closing conditions and MLB approval.
