Kroenke Sports & Entertainment announced Tuesday that it has reached an agreement to acquire the Los Angeles Angels.
In a news release issued Tuesday, the ownership group said the deal with the Moreno family is expected to close early next year. The transaction would require approval from Major League Baseball.
The Kroenke group also owns the Los Angeles Rams and developed SoFi Stadium in Inglewood and several other pro sports franchises in the United States and overseas. His holding company also owns the NBA’s Denver Nuggets of the NBA, the NHL’s Colorado Avalanche, the Colorado Rapids of MLS and English Premiere League champions Arsenal.
“The Angels are a storied franchise anchored in a great market. We look forward to an exciting future with the Angels organization,” Stan Kroenke, owner and chairman of KSE, said in the statement.
The purchase price was not announced. Forbes valued the Angels at $2.8 billion in March.
The deal would transfer ownership of a team that has struggled for more than a decade, leading to calls from fans to sell. Arte Moreno, an outdoor advertising mogul from Arizona and MLB’s first Latino owner, originally bought the Angels from the Walt Disney Company in 2003, shortly after the Anaheim-based franchise won its only Word Series.
“The Angels Organization is pleased to announce this transaction with Kroenke Sports & Entertainment,” Arte 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.”
The team’s last playoff appearance was 2014. The Angels are 53-85 entering Tuesday, 17 games behind front-running Houston and tied for last place in the American League West with the Athletics.
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