Kroenke Sports and Entertainment announced on Tuesday that it had reached a deal to purchase the Los Angeles Angels from Arte Moreno, closing the book on one of baseball’s more turbulent ownership tenures. The transaction is expected to be completed in early 2027.
The company led by billionaire Stan Kroenke did not disclose financial terms, though the deal delivers a controlling stake in a franchise anchored in the second-largest media market in the United States. “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 adds a Major League Baseball club to an already sprawling portfolio. Kroenke’s holdings include the NFL’s Los Angeles Rams, Arsenal of the English Premier League, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche and Major League Soccer’s Colorado Rapids. He also owns SoFi Stadium and the Hollywood Park campus surrounding the Inglewood venue.
Kroenke Sports and Entertainment was valued at more than $26 billion in CNBC’s most recent ranking of the world’s most valuable sports empires.
Moreno, an outdoor advertising magnate from Arizona, bought the Angels from the Walt Disney Company in 2003. The club enjoyed early success with much of the roster that won the 2002 World Series, but its fortunes have slid steadily since its most recent playoff victory in 2009.
The Angels are heading toward their 11th consecutive losing season and their 12th straight year without a playoff appearance — both the longest active streaks in the majors. Much of that decline unfolded during the career of three-time AL MVP Mike Trout, who reached the postseason just once.
For six seasons, Trout shared a clubhouse with two-time AL MVP Shohei Ohtani, yet the pairing never produced a playoff run. Ohtani departed in free agency and signed a record contract with the crosstown Dodgers, sharpening the contrast between the two Los Angeles clubs.
The 80-year-old Moreno drew criticism for repeatedly inserting himself into personnel decisions, and his aggressive spending rarely translated into on-field results. The sale ends a 23-year chapter defined more by frustration than trophies.
The Angels will finish the 2026 season under Moreno’s control before the ownership transfer takes effect. Kroenke’s arrival gives one of baseball’s most historically ambitious markets a new steward for the first time in more than two decades.