Kroenke Sports and Entertainment has finalized an agreement to acquire a majority stake in the Los Angeles Angels from Arte Moreno, broadening its sports portfolio to include the struggling baseball franchise. The company, led by Stan Kroenke, made the unexpected announcement on Tuesday, setting the expected completion of the deal for early 2027 pending approval from Major League Baseball.
With existing ownership of the NFL’s Los Angeles Rams, Premier League champion Arsenal, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, Major League Soccer’s Colorado Rapids, SoFi Stadium, and the Hollywood Park campus, Kroenke’s conglomerate is now venturing into the baseball realm with the Angels. This move marks the end of Moreno’s tumultuous 23-year ownership tenure with the team.
Expressing optimism about the future, Kroenke stated, “The Angels are a respected franchise with a strong presence in a vibrant market. We anticipate a promising journey ahead with the Angels organization.” Moreno, who acquired the Angels from the Walt Disney Company in 2003, saw initial success with the team, including five AL West titles in six seasons during the 2000s. However, the Angels have faced a downward trend since their last playoff victory in 2009, currently standing at a league-worst 53-85 record.
In stark contrast, Kroenke’s sports franchises have excelled in recent years, with the Rams, Avalanche, Nuggets, and Arsenal clinching championships in their respective leagues. The Angels’ struggles in the past two decades have been partly attributed to Moreno’s management style, characterized by high-profile, unsuccessful player acquisitions and a lack of support infrastructure compared to other MLB teams.
Under Moreno’s leadership, the Angels also encountered off-field issues, including the tragic death of pitcher Tyler Skaggs and controversies surrounding the team. Despite Moreno’s efforts to rebrand the franchise and maintain fan support, dwindling attendance and vocal discontent from the fan base have been evident in recent years. Moreno’s decision to explore selling the team in 2022, only to retract it in 2023, highlighted the challenges faced during his tenure.
A significant development earlier this year saw Moreno appointing John Mozeliak to oversee baseball operations, aiming to revitalize the team and initiate a rebuilding phase. With the impending ownership transition to Kroenke Sports and Entertainment, Moreno expressed confidence in the future of the Angels under new ownership.
Kroenke Sports and Entertainment will become the fourth permanent owner of the Angels, a franchise established in 1961 by Hollywood legend Gene Autry. The team has a rich history and a loyal fan base in Orange County, setting the stage for a new chapter under Kroenke’s ownership.