Kroenke Sports and Entertainment has sealed a deal to acquire the majority ownership stake of the Los Angeles Angels from Arte Moreno, further expanding its portfolio of teams across various major U.S. professional sports by adding the struggling baseball franchise.
The announcement came unexpectedly from Stan Kroenke’s company on Tuesday, with the transaction expected to be finalized in early 2027 pending approval from Major League Baseball. The conglomerate, known for owning the NFL’s Los Angeles Rams, Premier League champions Arsenal, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, Major League Soccer’s Colorado Rapids, and SoFi Stadium, has now ventured into baseball with the acquisition of the Angels.
In a statement, Kroenke expressed enthusiasm about the future of the Angels, describing the franchise as a renowned team based in a strong market. Moreno, who purchased the Angels from the Walt Disney Company in 2003, guided the team to success initially, clinching five AL West titles in six seasons during the 2000s. However, the club has faced a downturn since their last playoff triumph in 2009, currently positioned at the bottom of the AL standings with a record of 53-85.
While the Angels have struggled in recent years, Kroenke’s other sports franchises have thrived, winning championships and remaining top contenders in their respective leagues. Moreno’s tenure, on the other hand, has been marred by criticism for his involvement in personnel decisions and the team’s lack of success. The Angels have faced challenges both on and off the field during Moreno’s ownership, leading to discontent among fans.
In a bid to revitalize the team, Moreno appointed John Mozeliak to oversee baseball operations, signaling a shift in the organization’s direction. The decision to sell the Angels to Kroenke Sports and Entertainment marks a significant change in ownership, with Moreno expressing confidence in the new owners to continue the team’s legacy.
As the deal progresses, Kroenke Sports and Entertainment will become only the fourth permanent owner of the Angels since the team’s establishment in 1961. Gene Autry, a prominent Hollywood figure, founded the franchise, which has since undergone ownership changes before landing in the hands of Kroenke’s conglomerate.