Arte Moreno is set to sell the Los Angeles Angels to Stan Kroenke’s Kroenke Sports & Entertainment for a record $4 billion, marking the end of Moreno’s 23-year ownership. The agreement, expected to close in early 2027 with MLB approval, includes the team's media assets ABTV and AM 830 but excludes Angel Stadium and its land, which remain leased from the City of Anaheim. Kroenke is likely to approach stadium and development plans akin to his work with SoFi Stadium in Inglewood.

Stan Kroenke's extensive sports portfolio spans several major teams and venues, including the NFL’s Rams, NBA’s Denver Nuggets, NHL’s Colorado Avalanche, MLS’s Colorado Rapids, and England’s Arsenal FC. Kroenke emphasized excitement about expanding into baseball with the Angels and sees potential in this storied franchise in a major sports market. Arte Moreno expressed confidence that Kroenke’s experience would steer the club forward after his controversial stewardship.

During Moreno’s time as owner, the Angels posted a modest .506 winning percentage, winning the AL West five times early in his tenure but failing to make the playoffs since 2014. The team has struggled competitively in recent years, finishing below .500 since 2015 and ranking at the bottom of their division much of the time. Moreno faced criticism for meddling in front office decisions and a failed attempt to acquire Angel Stadium and surrounding property, a deal that collapsed amid a municipal corruption scandal involving Anaheim’s former mayor.

The Angels’ sale comes as Moreno had briefly explored selling the franchise before pulling it off the market in early 2023. Now, Kroenke’s entry demonstrates the growing valuation and appeal of MLB franchises, with Forbes’ latest valuation pegging the Angels at $2.8 billion prior to the sale. The transition to Kroenke’s ownership signifies a major new chapter for the team, with fans and business watchers alike eager to see how his well-honed sports management expertise will impact the Angels’ future.