Stan Kroenke and Kroenke Sports & Entertainment have agreed to a deal to purchase the Los Angeles Angels, ending Arte Moreno’s 23-year run as the team’s owner, the two parties announced on Tuesday morning in a statement. The valuation of the deal has not yet been announced.
Kroenke adds the first Major League Baseball team to his multi-sport portfolio. Kroenke Sports & Entertainment currently owns the NBA’s Denver Nuggets, NHL’s Colorado Avalanche, MLS’ Colorado Rapid and Premier League’s Arsenal, while Kroenke himself also owns the NFL’s Los Angeles Rams, as well as SoFi Stadium in Inglewood, where the Rams play.
“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.”
Moreno, meanwhile, exits the franchise he purchased in 2003, shortly after the team’s lone World Series championship. Moreno’s tenure started strong — making the playoffs in five of his first six seasons as owner — but it quickly faded into one of the league’s most disappointing franchises.
His Angels have made the playoffs once since 2010 and currently hold the league’s longest postseason drought (11 seasons) and longest streak of seasons below .500 (10 seasons).
“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. The Angels organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners.”
Kroenke has seen remarkable success with his other franchise. Arsenal is coming off of winning the Premier League, while the Rams, Nuggets and Avalanche have all won championships since 2020. This signals a new era for the Angels, who are in the midst of their most serious rebuilding effort since the start of the postseason drought.
