Business & Finance
Stan Kroenke reaches deal to buy controlling stake in Los Angeles Angels
Kroenke Sports & Entertainment agreed to purchase the team at a reported $4 billion valuation, ending Arte Moreno's 23-year tenure pending MLB approval.
The short version
- Kroenke Sports & Entertainment has agreed to acquire a controlling interest in the Los Angeles Angels at a reported $4 billion valuation.
- The purchase ends Arte Moreno's 23-year ownership of the franchise following 11 straight losing seasons.
- The transaction remains subject to approval from Major League Baseball and is projected to finalize in early 2027.
Key facts
- Arte Moreno agreed to sell a controlling stake in the Los Angeles Angels to Kroenke Sports & Entertainment at a reported $4 billion valuation.[Fox News]
- The transaction is scheduled to close in early 2027, subject to Major League Baseball approval.[Fox News]
- Moreno originally bought the franchise from The Walt Disney Company for $184 million in 2003.[Fox News]
- The sale follows an 11-year streak of losing seasons for the Angels, who have not qualified for the postseason since 2014.[Fox News]
What remains uncertain
- The deal is subject to formal review and final approval by Major League Baseball before it can close in early 2027.[Fox News]