Kroenke Agrees to Buy Angels From Moreno at Record $4 Billion

Stan Kroenke's Kroenke Sports & Entertainment agreed to buy the Los Angeles Angels from Arte Moreno at a record $4 billion valuation, topping the Padres' sale.

Kroenke Sports & Entertainment announced Tuesday that it reached an agreement to purchase a controlling interest in the Los Angeles Angels from longtime owner Arte Moreno, ending his 23-year tenure atop the franchise. League sources told The New York Times that the deal values the team at a record-setting $4 billion, edging out the $3.9 billion sale of the San Diego Padres to José E. Feliciano and Kwanza Jones earlier this year, which had broken the mark Steve Cohen set when buying the Mets for $2.4 billion in 2020. The transaction is expected to close in the first quarter of 2027, pending MLB owners' approval and regulatory review.

The sale represents a stunning reversal for Moreno, who explored a sale in 2022 only to pull the Angels off the market in early 2023, saying the family had 'unfinished business' with the team. It also comes despite widespread expectations that franchises would not sell until a new collective bargaining agreement was reached. Interim general manager John Mozeliak told the Los Angeles Times that many people predicted teams wouldn't sell until there was a new CBA, 'clearly, that prediction was wrong.' The deal also proceeded without a formal bidding process, according to the Times, which reported that it followed face-to-face discussions between Kroenke and Moreno rather than the typical market process.

The news delivered an immediate jolt to a frustrated Angels clubhouse. Mike Trout told the Los Angeles Times that he dropped the phrase 'fresh start' repeatedly and, after looking up Kroenke's track record, said 'Wherever he buys, he wins.' Trout even called a Rams player for a scouting report on his new owner. Shortstop Zach Neto said the Rams' evaluation was glowing, noting that Kroenke 'just wants what's important for us.' Both players still expressed appreciation for Moreno, with Neto saying he treated players well despite the outside noise. The enthusiasm comes even though the sale won't close until next year and the Angels sit at 53-85, headed for an 11th consecutive losing season and baseball's longest active playoff drought.

The 79-year-old Kroenke brings one of sports' most successful ownership portfolios to Anaheim. Through KSE, he owns the Los Angeles Rams, the NBA's Denver Nuggets, the NHL's Colorado Avalanche, MLS's Colorado Rapids, and Premier League champion Arsenal. His teams have combined for five championships in recent years, including two Super Bowls, two Stanley Cups, an NBA title, and Arsenal's Premier League crown in May, per the New York Post. Forbes values his net worth at $24 billion, making him baseball's richest owner, per the Times. The Angels become KSE's first MLB franchise, expanding an empire that also includes SoFi Stadium and the Hollywood Park complex in Inglewood.

Voice of OC reports that Anaheim Mayor Ashleigh Aitken called the sale a 'new chapter for baseball in Anaheim' and said the current lease will remain in place, while expressing hope to advance city priorities around housing, open space, and youth sports. A new state law, the 'Home Run for Anaheim Act,' requires the team to use the Anaheim Angels name if it reaches a new lease or land deal under a surplus land exemption. Assemblyman Avelino Valencia and Senator Tom Umberg both welcomed the sale as an opportunity to restore the Anaheim identity.

Much remains unresolved before the sale closes in early 2027. According to the Los Angeles Times, Kroenke has not yet done customary due diligence, has not met with team management or toured the stadium, and has not introduced himself to Anaheim officials. The front office continues its rebuild under Mozeliak, who replaced the fired Perry Minasian in June and told the Times the plan of rebuilding and reorganizing remains on course, saying fans will now 'see even more' change. Whether Mozeliak stays under new ownership is unknown.