Stan Kroenke, who owns the Los Angeles Rams, has agreed to buy the Los Angeles Angels of Anaheim, bringing an end to Arte Moreno’s 23 years as the team’s owner.
The LA Times reports that Kroenke’s company, Kroenke Sports and Entertainment, will acquire the Angels. The company also owns several other professional sports franchises.
The price of the deal has not been made public. The Business Journal in July valued the Angels at $3.3 billion.
Moreno, a former billboard advertising exec, became Major League Baseball’s first Latino owner when he bought the Angels from the Walt Disney Company for $183.5 million in 2003. The purchase came a year after the team won its first World Series.
For more details, see the Sept. 7 issue of the Business Journal.
- Arte Moreno Explores Sales of Team
- New Angels President Molly Jolly Starts Broadcast Network
