Kroenke Sports and Entertainment has sealed a deal to acquire majority ownership of the Los Angeles Angels from Arte Moreno, expanding its extensive portfolio of teams in various U.S. professional sports leagues by adding the troubled baseball franchise.
The announcement of the acquisition was made by Stan Kroenke’s company on Tuesday, with the transaction expected to be finalized in early 2027 pending approval from Major League Baseball. The conglomerate, which already owns the NFL’s Los Angeles Rams, Premier League’s Arsenal, NBA’s Denver Nuggets, NHL’s Colorado Avalanche, MLS’s Colorado Rapids, and SoFi Stadium, is now venturing into baseball with the Angels, marking the end of Moreno’s tumultuous 23-year ownership.
Expressing excitement about the acquisition, Kroenke stated, “The Angels have a rich history in a vibrant market, and we are eager to embark on a promising future with the Angels organization.”
Arte Moreno, a prominent outdoor advertising entrepreneur from Arizona, purchased the Angels from the Walt Disney Company in 2003. While the team enjoyed success in the early years under Moreno’s ownership, including multiple AL West titles, their performance has declined since their last playoff appearance in 2009.
Currently, the Angels hold the worst record in the AL at 53-85, heading towards their 11th consecutive losing season and 12th consecutive non-playoff season, the longest active streaks in the MLB. Despite having star players like Mike Trout and Shohei Ohtani, the team has struggled to make significant postseason runs.
In contrast, Kroenke’s sports franchises have been consistently successful in recent years, with the Rams, Avalanche, Nuggets, and Arsenal winning championships in their respective leagues. This success marks a turnaround for an ownership group previously criticized for initial struggles in English soccer and relocating the Rams from St. Louis to Los Angeles.
Many of the Angels’ challenges over the past two decades have been attributed to Moreno’s leadership style, characterized by heavy involvement in player decisions and lack of focus on organizational development. His high-profile acquisitions often failed to deliver expected results, contributing to the team’s struggles on the field.
The Angels have also faced off-field issues during Moreno’s tenure, including the tragic death of pitcher Tyler Skaggs and other controversies. Despite Moreno’s efforts to rebrand the team and maintain fan support, dwindling attendance and fan dissatisfaction have been evident in recent years.
After firing general manager Perry Minasian earlier this year and appointing John Mozeliak to lead baseball operations, Moreno expressed confidence in Kroenke Sports and Entertainment as the new owners of the Angels. The Angels organization aims to uphold its commitments to fans, employees, players, and business partners under the new ownership.
Arte Moreno, the first Latino majority owner in MLB history, will pass on the ownership to Kroenke Sports and Entertainment, only the fourth permanent owner of the Angels since the team’s inception in 1961.