Angels sold to Rams owner Stan Kroenke for $4 billion
Stan Kroenke's Kroenke Sports & Entertainment has agreed to buy the Los Angeles Angels from Arte Moreno for $4 billion, the most expensive sale in MLB history. The deal ends Moreno's 23-year ownership tenure marked by a playoff drought since 2014.
The Arte Moreno era of the Los Angeles Angels is officially over. Billionaire Stan Kroenke, owner of the NFL's Rams, the NBA's Nuggets, and the NHL's Avalanche, has agreed to purchase the franchise through Kroenke Sports & Entertainment for $4 billion, making it the most expensive sale in Major League Baseball history.
The price tag surpasses the previous MLB record of $3.9 billion set by the San Diego Padres' recent sale and far exceeds Steve Cohen's $2.4 billion purchase of the New York Mets. Across American professional sports, the deal matches Mat Ishbia's $4 billion takeover of the Phoenix Suns, trailing only the Denver Broncos at $4.65 billion and the Washington Commanders at $6.05 billion.
Moreno, who bought the club in 2003 for $184 million shortly after the team's lone World Series title, released a statement on the sale. «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,» he said. «The Angels organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners.»
Kroenke also issued a statement, saying, «The Angels are a storied franchise anchored in a great market. We look forward to an exciting future with the Angels organization.» The deal is not expected to officially close until early 2027, pending MLB approval.
The sale ends a turbulent ownership tenure that saw the Angels become a league-wide cautionary tale. The franchise has not made the playoffs since 2014, the longest active postseason drought in baseball. Under Moreno, the organization was repeatedly criticized for squandering the prime years of superstars Mike Trout and Shohei Ohtani on the same roster. Ohtani eventually left, crossing town to win a World Series with the Dodgers, while Trout remained with the Angels.
Moreno's stewardship was marked by disastrous contracts to aging stars such as Albert Pujols, Josh Hamilton, and Anthony Rendon, a neglected farm system, and constant turnover in leadership, including the firing of general manager Perry Minasian in June. In 2023, Moreno explored a sale but abruptly pulled the team off the market, citing «unfinished business.»
Despite the years of frustration, Angels fans have continued to pack Angel Stadium, a loyalty that was on full display Tuesday. Hours before a game against the Yankees, fans gathered outside the stadium to celebrate Moreno's exit, an impromptu party that underscored the deep attachment to the team.
The Angels now enter a new era under Kroenke, whose championship portfolio includes the Super Bowl-winning Rams, the NBA champion Nuggets, and the Stanley Cup champion Avalanche. His track record of success across multiple leagues offers a measure of hope for a fan base that has waited more than a decade for a return to October baseball.
