Kroenke Sports and Entertainment has finalized an agreement to acquire a controlling stake in the Los Angeles Angels from Arte Moreno, marking a significant expansion of its portfolio of sports teams across various professional leagues in the United States. The deal, announced unexpectedly by Stan Kroenke’s company, is anticipated to be completed by early 2027 pending approval from Major League Baseball.
The acquisition adds the Angels to Kroenke’s already extensive roster of sports franchises, which includes the NFL’s Los Angeles Rams, Premier League powerhouse Arsenal, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, the Colorado Rapids of Major League Soccer, and the state-of-the-art SoFi Stadium in Inglewood. The move into baseball signifies a new chapter for the Angels, who have faced challenges during Moreno’s 23-year ownership tenure.
Stan Kroenke expressed enthusiasm about the future prospects of the Angels, emphasizing the team’s rich history and its position in a vibrant market. Moreno, a prominent figure in outdoor advertising, purchased the Angels from the Walt Disney Company in 2003. While the team achieved success early on under Moreno’s leadership, winning multiple AL West titles in the early 2000s, they have struggled in recent years, currently on track for their 11th consecutive losing season.
The Angels’ lackluster performance contrasts sharply with the success of Kroenke’s other teams, such as the Rams, Avalanche, Nuggets, and Arsenal, all of which have secured championships in their respective leagues in the past five years. Kroenke’s ownership group has undergone a transformation, overcoming initial challenges in English soccer and the relocation of the Rams, to become dominant forces in their sports.
Moreno’s tenure with the Angels has been marred by criticism for his hands-on approach to team management, leading to questionable personnel decisions and a lack of investment in crucial areas compared to other MLB franchises. Despite attempts to rebrand the team and maintain fan engagement, dwindling success on the field has strained the relationship between Moreno and the Angel Stadium faithful.
Earlier this year, Moreno made significant changes within the organization by appointing John Mozeliak to oversee baseball operations, signaling a shift towards rebuilding and revitalizing the team’s prospects. With the impending ownership transfer to Kroenke Sports and Entertainment, the Angels are poised for a new era under fresh leadership. Kroneke will become only the fourth permanent owner in the Angels’ history, following Gene Autry, Jackie Autry, and the Walt Disney Company.