Kroenke Sports and Entertainment has finalized an agreement to acquire a majority stake in the Los Angeles Angels from Arte Moreno, broadening its portfolio of sports franchises in the United States by adding the struggling baseball team.
The announcement of the acquisition was made by Stan Kroenke’s company on Tuesday, with the transaction expected to be completed 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, will now venture into baseball with the Angels. This move marks the end of Moreno’s turbulent 23-year ownership of the franchise.
Expressing optimism about the future, Kroenke stated, “The Angels are a historic team rooted in a strong market. We are excited about the prospects with the Angels organization.”
Moreno, a prominent outdoor advertising entrepreneur from Arizona, purchased the Angels from Walt Disney Company in 2003. While the team had early success under Moreno, including an MLB World Series win in 2002 and multiple AL West titles, their performance has declined since 2009, with the Angels currently on track for their 11th straight losing season and 12th consecutive non-playoff season.
In contrast, teams owned by Kroenke have been consistently successful in recent years. The Rams, Avalanche, Nuggets, and Arsenal have all secured championships in their respective leagues over the past five years, positioning them as strong contenders.
The Angels’ challenges over the years have been attributed in part to Moreno’s management style, which has been criticized for his involvement in player decisions while neglecting other aspects of the organization. Despite significant investments in player acquisitions, many of these moves failed to deliver the expected results.
Under Moreno’s leadership, the Angels also faced off-field issues, including the tragic death of pitcher Tyler Skaggs and various scandals. The decision to rebrand the team from the Anaheim Angels did not resonate well with fans, leading to a dwindling support base in recent years.
The sale to Kroenke Sports and Entertainment marks a significant change for the Angels, with John Mozeliak recently appointed to lead the baseball operations following the dismissal of general manager Perry Minasian. The move signals a new direction for the franchise after years of stagnation.
In his statement, Moreno acknowledged the end of his family’s stewardship of the Angels and expressed confidence in KSE’s ability to lead the organization into the future. The sale will make Kroenke Sports and Entertainment the fourth permanent owner of the Angels since the team’s inception in 1961 by Gene Autry.
This transition comes at a crucial juncture for the Angels, as they seek to revitalize the team’s performance and reconnect with their fan base under new ownership.