L.A. Rams owner Stan Kroenke has reached an agreement to buy the Los Angeles Angels.
The billionaire will take over the baseball team from Arte Moreno, who has been at the head of the SoCal club for 23 years, pending MLB approval.
According to ESPN, it was a record-breaking sale; meaning, the Angels were sold for a valuation greater than $3.9 billion, which is the MLB record set by the San Diego Padres’ new owner earlier this year. The exact price has not been made public.
“The Angels are a storied franchise anchored in a great market,” Kroenke said in a Tuesday statement released by both the Angels and Kroenke Sports & Entertainment. “We look forward to an exciting future with the Angels organization.”
The purchase ends Moreno’s 23-year stint as owner of the Angels. He took over the team in 2004 and, despite some early successes, they’ve struggled for the last decade. The team hasn’t recorded a winning season since 2015.
“The Angels organization is pleased to announce this transaction with Kroenke Sports & Entertainment,” Moreno said. “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 transaction is expected to close in the first quarter of 2027, subject to approval of Major League Baseball. Kroenke also owns the Denver Nuggets of the NBA, the Colorado Avalanche of the NHL, the Colorado Rapids of the MLS and Arsenal of the Premier League.
The news comes on the heels of another California pro team being bought. The Los Angeles Lakers were purchased by former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner for $12.5 billion last month.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” the pair said in an August joint statement. “Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
