Kroenke Sports + Entertainment (KSE), led by Stan Kroenke, announced Tuesday it will purchase a controlling interest in the Los Angeles Angels from Arte Moreno. The deal is expected to close in the first quarter of 2027, subject to approval by Major League Baseball and its owners.
Record-breaking purchase price
According to the Los Angeles Times, the purchase price exceeds the MLB-record $3.9bn that the San Diego Padres sold for earlier this year. An exact figure, approved in August by league owners, was not disclosed. Moreno acquired the Angels for $183.5m in 2003.
KSE, based in Denver, owns the NFL's Los Angeles Rams, the NBA's Denver Nuggets, the NHL's Colorado Avalanche, and MLS's Colorado Rapids, in addition to Arsenal of the English Premier League. The entity also owns a professional lacrosse team in Colorado, Arsenal's women's team, and an NWSL expansion franchise set to begin play in 2028.
Kroenke's sports and real estate empire
Kroenke developed a 300-acre property in Inglewood, California, south of Los Angeles, which includes SoFi Stadium, home of the Rams. Built for more than $5bn and opened in 2020, SoFi Stadium will host its second Super Bowl at the end of the upcoming NFL season, as well as the 2028 Summer Olympics and Paralympics.
When Moreno bought the Angels in 2003, he became the first Mexican American to own a major sports franchise in the United States. He took over the team one year after it won the World Series under Walt Disney Co. ownership. The Angels reached the playoffs in five of the first seven years under Moreno but have made the postseason just once in the past 16 seasons, without a playoff win in that span.
Angels' on-field struggles and fan protests
The Angels have been led by outfielder Mike Trout since 2011, but the 12-time All-Star has seen the playoffs only once, when the Angels were swept in a best-of-five series in 2014 against the Kansas City Royals. Trout was a teammate of Shohei Ohtani for six seasons, but the duo never reached the postseason. Between 2014 and 2023, Trout and Ohtani combined to win five MVP Awards while with the Angels, yet the team never made the playoffs. In 2018, Ohtani was the American League Rookie of the Year while Trout finished second in MVP voting.
Disgruntled fans have protested during games this season, with groups in the upper deck of the right field corner removing their shorts, waving them overhead, and chanting for Moreno to "sell the team." The Angels are 53-85 heading into Tuesday, on track for their 11th consecutive losing season.
In 2022, Moreno said he would explore selling the Angels but abandoned that plan less than a year later. "The Angels are a storied franchise anchored in a great market," Kroenke said in a release. "We look forward to an exciting future with the Angels organization."
"The Angels organization is pleased to announce this transaction with Kroenke Sports + Entertainment," Moreno said in Tuesday's news release. "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."
