Los Angeles Angels Sold to Stan Kroenke for Record $4 Billion

The Los Angeles Angels have announced the sale of the team by longtime owner Arte Moreno to Stan Kroenke, who is also the owner of several major sports franchises including the Los Angeles Rams and Arsenal Football Club. The sale price is reported to be $4 billion, setting a new record for the sale of a controlling stake in a Major League Baseball team.

This transaction surpasses the previous record of $3.9 billion for the San Diego Padres, which was sold earlier this summer. With a net worth of $24.3 billion, Kroenke becomes the wealthiest owner in MLB, overtaking Steve Cohen, who has an estimated worth of $23 billion.

The sale raises questions about the future of the Angels under Kroenke compared to Moreno's tenure. As discussions about a potential salary cap and competitive balance in baseball continue, the record sales highlight the increasing value of MLB franchises.