Arte Moreno has agreed to sell controlling interest in the Los Angeles Angels to Stan Kroenke for $4 billion, concluding his 20-year tenure as the team's owner. The sale was met with widespread celebration among Angels fans, who had grown disillusioned with years of losing and perceived mismanagement.
Moreno purchased the Angels from Disney in 2003 for $183.5 million, becoming Major League Baseball's first Latino majority owner. In his early years, he increased payroll and acquired notable players like Vladimir Guerrero and Bartolo Colon. The team achieved success between 2004 and 2009, winning five AL West titles and a franchise-record 100 games in 2008. However, this period of success proved to be fleeting.
Cracks began to appear in 2011 when the Angels traded prospects for Vernon Wells, assuming a significant portion of his contract, while Wells underperformed. Moreno responded with substantial investments, signing Albert Pujols to a 10-year, $240 million deal and Josh Hamilton to a five-year, $125 million contract. Neither acquisition yielded the expected results, with Pujols never replicating his previous MVP-caliber performance and Hamilton lasting only two seasons.
Despite these struggles, the acquisition of Mike Trout, who became one of baseball's greatest players and won three MVP awards, provided a glimmer of hope. In 2014, the Angels reached the playoffs with 98 wins but were swept in the AL Division Series. The following season saw internal turmoil with the resignation of general manager Jerry Dipoto and the team missing the playoffs by one game. Since then, the Angels have not achieved a winning record.
A significant moment came in 2018 with the acquisition of Shohei Ohtani, a unique two-way player. Pairing Ohtani with Trout created immense anticipation for a perennial contender, yet the team struggled to build a competitive roster around them, leading to individual accolades but no postseason success.
The organization faced a profound tragedy in 2019 when pitcher Tyler Skaggs died from an accidental overdose. Investigations and subsequent legal proceedings involved communications director Eric Kay, who was convicted. The circumstances surrounding Skaggs' death also led to allegations from his family regarding the organization's knowledge of drug issues, which the Angels denied.
Further criticism mounted with the signing of Anthony Rendon to a seven-year, $245 million contract, which was hampered by injuries. In 2020, the team furloughed scouts and player-development staff, fueling perceptions that Moreno prioritized acquiring star players over strengthening the team's foundational systems.
The organization's off-field issues extended to a canceled stadium and land sale in Anaheim in 2022, after a former mayor admitted to leaking confidential information to the Angels. The team denied wrongdoing.
Moreno announced he was exploring a sale in 2022, but later rescinded that decision in January 2023, citing unfinished business. This decision was followed by the team's inability to retain Ohtani. Moreno declined to match the Dodgers' record-setting $700 million offer for Ohtani, who subsequently joined the rival club and won a championship in his first season, while the Angels suffered a franchise-record 99 losses in 2023.
By 2026, fan frustration had escalated to organized protests, with fans demanding Moreno's departure. The Angels are headed toward an 11th consecutive losing season and a 12th straight year without a playoff appearance.
Moreno is expected to profit approximately $4 billion from the sale, a substantial return on his initial investment. While he proved to be a financially successful owner, his tenure is largely defined by the squandered potential and the erosion of fan trust over two decades.