Billionaire Stan Kroenke expanded his portfolio of professional sports teams on Tuesday when he agreed a deal to buy the Los Angeles Angels.
Kroenke, who also owns Premier League side Arsenal and NFL team the Los Angeles Rams, added Major League Baseball to his empire with the move, purchasing the Angels from Arte Moreno.
‘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.’
The purchase, the price of which was not announced, ends Moreno’s troubled tenure with the Angels.
The 80-year-old, who was MLB’s first Latino owner, faced increasing calls from fans to sell the team in recent years.
His ownership started with the most successful decade in club history, one that featured five American League West titles and two AL Championship Series appearances from 2004-2009.
Billionaire Stan Kroenke expanded his portfolio of professional sports teams on Tuesday
Kroenke already owns Premier League side Arsenal and NFL team the Los Angeles Rams
He has now ventured into MLB, buying the Los Angeles Angels from Arte Moreno
However, in more recent years, the franchise faced struggles with the Angels failing to win a playoff game in the past decade and enduring losing seasons from 2016-2026.
‘The Angels organization is pleased to announce this transaction with Kroenke Sports & Entertainment,’ Moreno said in a statement.
‘The Moreno Family has been honored to steward the Angels for 23 years and we believe with KSE’s experience and success they are the best next owner for the franchise. The Angels Organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners.’
Moreno had initially put the team up for sale in 2022 but, despite potential buyers expressing interest, he pulled the franchise off the market just five months later.
Meanwhile, Kroenke has long expressed an interest in adding an MLB team to his collection of franchises.
He was a backup bidder for the Angels’ crosstown rivals, the Los Angeles Dodgers, over a decade ago in 2012, narrowly losing out to Magic Johnson’s consortium.
While the Angels have endured a decade of strife, Kroenke’s existing sports franchises are flourishing.
Arsenal won the Premier League title in May, meanwhile, the Gunners’ women’s side, the most successful club in English women’s soccer, won the Champions League in the 2024-25 season.
In addition to the Rams, his US-based sports empire also includes the the Denver Nuggets of the NBA, the Colorado Avalanche of the NHL, the Colorado Rapids of MLS and the Colorado Mammoth of the National Lacrosse League.
More to follow.
