MLB Trade Rumors

Arte Moreno Agrees To Sell Angels To Rams Owner Stan Kroenke

The Angels have finally been sold. Head to MLB Trade Rumors for details.

Angels owner Arte Moreno has agreed to sell the team to billionaire Stan Kroenke, owner of the NFL’s Los Angeles Rams, reports Sam Farmer of the L.A. Times. It’s a stunning and out-of-the-blue development. Moreno explored a sale of the Angels a few years ago but wound up pulling the team off the market. As of Jan. 2023, Moreno said he was no longer pursuing a sale of the team he’d owned since 2003.

The acquisition of the Angels adds to an immense portfolio of sports team for Kroenke. In addition to being the principal owner of the Rams, the 79-year-old real estate mogul owns the majority stake in the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, Major League Soccer’s Colorado Rapids, and the English Premier League’s Arsenal FC.

While the sale price is not yet known, Bill Shaikin of the L.A. Times reports that the Angels sold for a larger number than the record $3.9 billion for which Jose E. Feliciano and Kwanza Jones recently purchased the Padres.

The pending sale values the Angels at $4 billion, reports Britt Ghiroli of The Athletic.

Angels Notes: Stadium, Trout, Front Office - MLB Trade Rumors

THere's talk the new owners are wanting to build a new ballpark and develop the area around the park.

A law was recently passed saying any development would have to include affordable housing.

Instead, the law provides the city with an incentive to dangle before the team. If the Angels — whether under owner Arte Moreno or a future owner — wish to develop the 150-acre Angel Stadium property, state law would prioritize affordable housing within the site.