Arte Moreno era officially over as Angels sell to Rams owner Stan Kroenke for $4B
Stan Kroenke has purchased the Los Angeles Angels from Arte Moreno for $4 billion, marking the most expensive sale in MLB history. The sale ends Moreno's 23-year tenure, which was often criticized for the team's lack of postseason success.
Why it matters
The record-breaking sale of a major sports franchise reflects the massive valuation growth in professional sports assets.
Calling all Angels fans: The Arte Moreno era is officially over. After two decades of blown leads, wasted talent, and front-office chaos, Moreno has finally done what Halos fans have begged him to do for years: Arte finally agreed to sell the team. Billionaire Stan Kroenke, owner of the Rams, Nuggets and Avalanche, swooped in Tuesday to rescue the Angels from baseball’s purgatory. Kroenke Sports & Entertainment is buying the franchise for $4 billion — making it the most expensive sale in Major League Baseball history. PADRES STRIKE DEAL TO SELL TO INVESTOR GROUP LED BY PRIVATE EQUITY BILLIONAIRE, VOWS WORLD SERIES CHAMPIONSHIP "The Angels are a storied franchise anchored in a great market," Kroenke announced in a statement. "We look forward to an exciting future with the Angels organization." The price tag eclipses the Padres’ $3.9 billion record and crushes Steve Cohen’s $2.4 billion purchase of the Mets.
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