Billionaire sports owner Stan Kroenke has agreed a deal to buy Major League Baseball franchise the Los Angeles Angels from Arte Moreno on Tuesday.
The purchase, the price of which was not announced, ends Moreno's 23-year tenure as owner of the Angels.
"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 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," Moreno added. "The Angels Organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners."
Kroenke is an American billionaire businessman who founded Kroenke Sports & Entertainment, a sports and entertainment holding enterprise that manages multiple top-tier professional franchises.
The deal expands Kroenke's sporting empire into Major League Baseball. He already owns Premier League side Arsenal in London and NFL team the Los Angeles Rams.
Expansion of Kroenke Sports Empire
In addition to the Rams, Kroenke's US-based sports empire includes the Denver Nuggets of the National Basketball Association, the Colorado Avalanche of the National Hockey League, the Colorado Rapids of Major League Soccer and the Colorado Mammoth of the National Lacrosse League.
While the Angels have endured a decade of strife, Kroenke's existing sports franchises are flourishing. Arsenal won the Premier League title in May, while the Gunners' women's side, the most successful club in English women's soccer, won the Champions League in the 2024-25 season.
Kroenke has long expressed an interest in adding an MLB team to his collection of franchises. He was a backup bidder for the Angels' crosstown rivals, the Los Angeles Dodgers, over a decade ago in 2012, narrowly losing out to Magic Johnson's consortium.
End of the Arte Moreno Era
The 80-year-old Moreno, who was MLB's first Latino owner, faced increasing calls from fans to sell the team in recent years. Major League Baseball, founded in 1876, is the oldest major professional sports league in North America, comprising 30 member clubs.
Moreno's ownership started with the most successful decade in club history, one that featured five American League West titles and two AL Championship Series appearances from 2004-2009.
However, in more recent years, the franchise faced struggles with the Angels failing to win a playoff game in the past decade and enduring losing seasons from 2016-2026.
Moreno had initially put the team up for sale in 2022 but, despite potential buyers expressing interest, he pulled the franchise off the market just five months later before reaching agreement with KSE.
More to follow.
