Arte Moreno selling Angels for record $4B: Rams’ Stan Kroenke takes over MLB team with longest playoff drought

The Los Angeles Angels are being sold. Embattled and often maligned owner Arte Moreno, who presided over the franchise's decade-plus doldrums, has agreed to sell the club to Stan Kroenke. Kroenke's company, Kroenke Sports & Entertainment, announced the sale on Tuesday.

The deal is worth an MLB record $4 billion, surpassing the $3.9 billion Padres sale, according to the Athletic. The sale is expected to be finalized in the first quarter of 2027.

Kroenke, 79, also owns the Los Angeles Rams of the NFL, the Denver Nuggets of the NBA, the Colorado Avalanche of the NHL, the Colorado Rapids of MLS, and Arsenal of the Premier League through his holding company.

"The Angels are a storied franchise anchored in a great market," Kroenke said in a statement. "We look forward to an exciting future with the Angels organization."

Moreno, 80, has owned the team since 2003, when he purchased the Angels from the Walt Disney Company for $180 million. The transaction made Moreno the first Mexican-American owner of a major franchise in U.S. sports history.

Moreno purchased the team months after the Angels won the World Series for the first time in franchise history. They remained broadly successful for the…

Original source: https://www.cbssports.com/