Arte Moreno, who has owned the Angels since 2003 but has come under scrutiny amid a decade of losing, has agreed to sell a controlling interest in the team to Rams owner Stan Kroenke.
The stunning announcement was made Tuesday morning by both Kroenke Sports and Entertainment and the Angels.
The sale is expected to be completed in the first quarter of 2027, according to the release. It is subject to the approval of Major League Baseball.
The sale price is not yet known. For reference, the sale of the San Diego Padres was completed this summer, for $3.9 billion. Moreno paid $183 million for the Angels in 2003.
Moreno did not immediately return a message, but he made a statement for the press release.
“The Angels Organization is pleased to announce this transaction with Kroenke Sports & Entertainment,” Moreno said. “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.”
KSE also owns the NBA’s Denver Nuggets and the NHL’s Colorado Avalanche, so the company will now control teams in all four major sports. KSE also owns Arsenal, a soccer team in the Premier League.
The Rams, Nuggets, Avalanche and Arsenal have all won championships under KSE’s ownership.
“The Angels are a storied franchise anchored in a great market,” Kroenke said in the statement. “We look forward to an exciting future with the Angels organization.”
This story will be updated