Kroenke’s $4 Billion Purchase Marks New Era for the Angels

The ownership era of Arte Moreno with the Los Angeles Angels has reached its end. After numerous years marked by missed opportunities and internal turmoil, Moreno has fulfilled fans’ wishes by selling the team.

Stan Kroenke, a billionaire known for owning the Rams, Nuggets, and Avalanche, stepped in to buy the Angels for $4 billion. This transaction sets a new record as the most expensive in the history of Major League Baseball.

The Angels are a storied franchise anchored in a great market. We look forward to an exciting future with the Angels organization.

The sale surpasses previous records, including the Padres’ $3.9 billion and Steve Cohen’s $2.4 billion purchase of the Mets. Even in the broader sports world, it is among the top transactions, alongside deals like the $4 billion sale of the Phoenix Suns.

Moreno acquired the Angels in 2003 for $184 million, shortly after their only World Series victory. Reflecting on the sale, he stated:

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.

The Angels have endured the longest current postseason drought in baseball, not making the playoffs since 2014. The team became infamous for missing the playoffs despite having stars like Mike Trout and Shohei Ohtani. Ohtani eventually left for the Dodgers, winning a World Series, while Trout remained loyal.

Under Moreno’s leadership, the organization faced criticism for poor contracts and allowing the farm system to decline. Additionally, the front office frequently changed, with recent decisions like firing GM Perry Minasian highlighting instability.

Moreno’s 2023 announcement of exploring a sale raised hopes, only for him to later retract the decision, citing unfinished business. Despite challenges, Angels fans demonstrated their unwavering support, consistently filling Angel Stadium.

Kroenke’s acquisition introduces a fresh chapter. Known for his successful franchises, including the Super Bowl-winning Rams and NBA champion Nuggets, Kroenke promises a bright future for the Angels.

While the transaction is subject to MLB approval and will only complete in early 2027, the Moreno era has concluded, sparking celebrations among fans eager for change.