Stan Kroenke to Buy MLB’s Los Angeles Angels

Stan Kroenke reached an agreement to buy a control interest in MLB‘s Los Angeles Angels from Arte Moreno. The deal is expected to close in the first quarter of 2027, per a release from Kroenke Sports & Entertainment. The deal still requires approval by MLB. No financial terms were released, but MLB Network’s Jon Heyman reports the price is $4 billion, eclipsing the record $3.9 billion the San Diego Padres recently sold for. The move further expands Kroenke’s sports empire, which was already the biggest in sports. His major sports team assets include the NFL’s Los Angeles Rams, NBA’s Denver Nuggets, NHL’s Colorado Avalanche, Premier League’s Arsenal and MLS’ Colorado Rapids. KSE also owns the Rams’ home, SoFi Stadium, and the surrounding 300-acre Hollywood Park district in Inglewood. Kroenke is worth $26.8 billion, according to Bloomberg. Kroenke’s teams have been on a major roll in recent years. Arsenal just won the EPL title after three straight runner-up finishes. The Rams, Avalanche and Nuggets also won their league titles during the last five years. Kroenke’s pro lacrosse team, the Colorado Mammoth, has won two of the last five National Lacrosse League championships. The success stands in sharp contrast to the Angels, which will miss the playoffs this year for the 16th time in 17 seasons. The lone appearance was a three-game sweep in 2014 at the hands of the Kansas City Royals. Moreno bought the Angels in 2003 for $183.5 million, as the team was coming off its first World Series title. The Angels made the playoffs in five out of six seasons before the current drought started. The losses piled up despite the franchise employing two of the greatest players in recent MLB history. Mike Trout and Shohei Ohtani won a combined five American League MVP awards for the Angels between 2014 and 2023, and Ohtani added two more MVPs since he joined the Los Angeles Dodgers under a 10-year, $700 million deal. The Angels drew at least 3 million fans every year through 2019 but have not topped 2.7 million since then. Moreno hired Galatioto Sports Partners in 2022 to explore a sale of the franchise, but no deal was reached. The Washington Nationals and Minnesota Twins also failed to find control buyers after hiring bankers to facilitate deals. The Angels were hampered by their venue and TV deal. Angel Stadium, which opened in 1966 and is the fourth oldest in baseball, needs major renovations or replacement. The Angels’ 20-year, $3 billion TV deal with Fox Sports kicked off in 2011, but ahead of his season, the Angels and eight other MLB teams terminated their deals that were now with FanDuel Sports Network. Sportico valued the Angels at $2.78 billion in its most recent MLB team valuations. It ranked No. 13 in baseball. (This story has been updated with more information on the Angels and their sale, and with Heyman’s report on the price.)