Arte Moreno Sells Los Angeles Angels to Stan Kroenke

The Los Angeles Angels are set to change ownership as Arte Moreno has reached an agreement to sell the team to Stan Kroenke, who also owns the Los Angeles Rams. The announcement was made by Kroenke's company, Kroenke Sports & Entertainment, on Tuesday.

This sale is anticipated to break Major League Baseball records, exceeding the $3.9 billion sale of the San Diego Padres, according to reports. Kroenke, who is 79 years old, has a diverse sports portfolio that includes ownership of the Denver Nuggets, Colorado Avalanche, Colorado Rapids, and Arsenal.

Moreno, who has owned the Angels since 2003, oversaw a period marked by both early success and recent struggles, with the team failing to reach the playoffs for 11 consecutive years. The Angels have not won a postseason game since 2009, despite having star players like Mike Trout and Shohei Ohtani. At the time of the sale, the franchise was on its seventh manager since 2018, highlighting ongoing challenges in leadership and performance.