Kroenke Sports and Entertainment has sealed a deal to acquire the majority ownership stake in the Los Angeles Angels from Arte Moreno, expanding its vast portfolio of sports teams across various major professional leagues in the United States by adding the struggling baseball franchise.
Stan Kroenke’s company made the unexpected announcement on Tuesday, anticipating the completion of the transaction in early 2027 pending approval from Major League Baseball. The league authorities have not yet provided any immediate comment on this development.
The conglomerate, under Kroenke’s leadership, already possesses the NFL’s Los Angeles Rams, Premier League title-holder Arsenal, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, Major League Soccer’s Colorado Rapids, and SoFi Stadium, in addition to the extensive Hollywood Park campus surrounding the multi-billion-dollar Inglewood arena. With the acquisition of the Angels, Kroenke’s empire now extends to the realm of baseball, signaling the end of the Angels’ tumultuous 23-year era under Moreno’s ownership.
Expressing enthusiasm for the future partnership, Kroenke remarked, “The Angels are a renowned franchise rooted in a vibrant market. We are eager to embark on a promising journey with the Angels organization.”
Moreno, a billboard advertising magnate from Arizona, purchased the Angels from the Walt Disney Company in 2003. While the team enjoyed success in its initial years under Moreno, clinching five AL West titles in six seasons during the 2000s, the Halos have faced a downward spiral since their last playoff triumph in 2009.
Currently, at a dismal 53-85 record, the Angels hold the lowest standing in the AL, heading towards their 11th consecutive losing season and 12th consecutive playoff absence, marking the lengthiest active streaks in the league.
Contrastingly, Kroenke’s franchises have consistently excelled in recent years across various sports. The Rams, Avalanche, Nuggets, and Arsenal have all claimed championship titles in their respective leagues over the past five years, remaining formidable contenders under an ownership group that has undergone a significant resurgence.
A substantial portion of the Angels’ struggles in the past two decades can be attributed to Moreno’s management approach, characterized by his heavy involvement in personnel decisions without the same level of dedication or expertise across the organization.
Despite Moreno’s efforts to invest in player salaries to build a competitive team, his high-profile acquisitions often failed to deliver the expected results. Notable signings such as Anthony Rendon, Gary Matthews Jr., and Josh Hamilton turned out to be costly disappointments, while the monumental $240 million contract for Albert Pujols did not yield the anticipated performance on the field.
Under Moreno’s leadership, the Angels faced criticism for inadequate infrastructure, resources, and support staff compared to other MLB franchises. The team also endured off-field challenges during his tenure, including the tragic death of pitcher Tyler Skaggs and various minor controversies.
While the Angels remained popular among their Orange County fan base during Moreno’s ownership, recent years saw a decline in fan patience, evident in dwindling attendance figures and calls from the crowd to sell the team.
Earlier this year, a significant change took place as Moreno dismissed general manager Perry Minasian and appointed John Mozeliak on an interim basis to oversee baseball operations. Mozeliak, renowned for his tenure with the St. Louis Cardinals, has already initiated substantial transformations to revamp the team’s operations and commence a rebuilding phase after years of resistance from Moreno.
In a statement, Moreno acknowledged the family’s pride in managing the Angels for 23 years and expressed confidence in Kroenke Sports and Entertainment’s expertise and success as the ideal future owners for the franchise. He highlighted the Angels’ commitment to fans, employees, players, and business partners going forward.
As the new custodians of the Angels, Kroenke Sports and Entertainment will become only the fourth permanent owner of the franchise, which was established as an AL expansion team in 1961 by Hollywood icon Gene Autry. Autry’s widow, Jackie, briefly held ownership following his passing before the team was sold to Disney in 1999.