Billionaire Stan Kroenke has expanded his portfolio of professional sports teams with the acquisition of Major League Baseball's Los Angeles Angels. The deal, announced Tuesday, brings MLB into Kroenke's extensive sports ownership group, which already includes English Premier League soccer club Arsenal and NFL team the Los Angeles Rams.
Kroenke Sports & Entertainment agreed to purchase the Angels from Arte Moreno, whose 23-year tenure as the league's first Latino owner comes to an end. The financial terms of the transaction were not disclosed.
"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."
The Angels organization expressed its satisfaction with the sale. "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."
Moreno's ownership began with a highly successful period for the franchise, marked by five American League West titles and two appearances in the AL Championship Series between 2004 and 2009. However, recent years have seen the team struggle, failing to win a playoff game in the last decade and experiencing consecutive losing seasons from 2016 to 2026. The sale concludes Moreno's ownership amid increasing calls from fans for a change.