Kroenke Sports and Entertainment has completed an acquisition of a majority stake in the Los Angeles Angels, expanding its sports portfolio to include the MLB franchise alongside the Los Angeles Rams, Denver Nuggets, and Colorado Avalanche. The transaction, pending MLB approval, is expected to close in the first quarter of next year, though specific financial terms have not been disclosed. The deal transfers control from longtime owner Arte Moreno, who has stewarded the franchise for more than two decades.
Moreno initially purchased the Angels from Disney in 2003 for approximately $185 million, shortly after the team’s World Series championship. He began a sale process in 2022 as the franchise faced criticism from fans regarding investment levels. In a statement, Moreno expressed confidence in Kroenke’s ability to lead the organization forward, citing the company’s extensive experience and track record in sports management.
The acquisition integrates the Angels into a substantial Southern California sports ecosystem. Kroenke Sports controls SoFi Stadium and the 300-acre Hollywood Park district in Inglewood, which is being developed as a sports and entertainment hub to host Olympic and Paralympic events in 2028. Company leadership expressed enthusiasm about positioning the Angels within this broader infrastructure, noting the franchise’s prominence in a historically significant baseball market.
Originally reported by Variety →
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