Kroenke Sports and Entertainment has finalized an agreement to acquire a controlling stake in the Los Angeles Angels from Arte Moreno, broadening its portfolio of sports teams to include the struggling baseball franchise.
The announcement of the acquisition was made by Stan Kroenke’s company, revealing plans to complete the transaction by early 2027 pending approval from Major League Baseball. The conglomerate, known for owning the NFL’s Los Angeles Rams, Premier League’s Arsenal, NBA’s Denver Nuggets, NHL’s Colorado Avalanche, Major League Soccer’s Colorado Rapids, and SoFi Stadium, will now venture into baseball with the addition of the Angels.
Expressing optimism about the future, Kroenke emphasized the rich history of the Angels and their potential in the market. Meanwhile, Moreno, who purchased the Angels from Walt Disney Company in 2003, saw initial success with the team, securing five AL West titles in six seasons. However, the Angels have faced a downturn since their last playoff win in 2009, with a current record of 53-85 this season, marking their 11th consecutive losing season.
Contrastingly, Kroenke’s other teams have enjoyed success in recent years, with championships in various leagues and strong contention for titles. The shift in ownership signals the end of Moreno’s era marked by criticisms for his involvement in personnel decisions and lackluster results despite significant investments in players like Albert Pujols.
During Moreno’s tenure, the Angels faced challenges both on and off the field, including controversies and a diminishing fan base. The decision to rebrand the team from the Anaheim Angels failed to resonate with supporters, leading to calls for change. Moreno’s exploration of a sale in 2022 and subsequent withdrawal in 2023 highlighted the growing discontent among fans.
With the appointment of John Mozeliak following the dismissal of Perry Minasian, the Angels are poised for a fresh start under new leadership. Moreno acknowledged the transition, expressing confidence in Kroenke Sports and Entertainment as the ideal custodian for the franchise, while reflecting on his family’s stewardship over the past 23 years.
As the Angels prepare for a new chapter under the fourth permanent ownership in their history, the move signifies a significant shift for the team originally founded in 1961 by Gene Autry, reflecting the evolving landscape of professional sports ownership.
