The Los Angeles Angels are changing hands, with Arte Moreno set to transfer the franchise to Kroenke Sports & Entertainment and end a 23-year run as owner.
Moreno made the announcement in a team statement on Sept. 1, a day when much of MLB was focused on roster expansion. Instead, the Angels delivered a far bigger organizational shift, one that follows years of fan frustration and public calls for Moreno to sell.
“The Angels Organization is pleased to announce this transaction with Kroenke Sports & Entertainment,” Moreno said in a statement released by the team. “The Moreno Family has been honored to steward the Angels for 23 years and we believe with KE’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 bought the club from the Disney Corporation in May 2003, just months after the Angels won their only World Series. The early years under Moreno, general manager Bill Stoneman and manager Mike Scioscia brought continued success, but the last decade has been defined by turbulence.
Kroenke steps into a franchise carrying MLB’s longest active postseason drought. The Angels have not reached the playoffs since being swept by the Kansas City Royals in the 2014 AL Division Series.
And the team is staring at a potentially brutal finish. The Angels were 53-85 through Monday and on pace for what could become the first 100-loss season in franchise history.
Still, Kroenke arrives with a profile built on major sports ownership. In a statement, he said, “The Angels are a storied franchise anchored in a great market. We look forward to an exciting future with the Angels organization.”
Kroenke Sports & Entertainment was founded in 1999 and owns Ball Arena in Denver, home of the NBA’s Nuggets and NHL’s Avalanche. Kroenke became the full owner of both of those teams in 2000. He has also owned a stake in the Rams since 1995 and took full control of that franchise in 2010.
Now he takes over an Angels team that has struggled for years, but still sits in MLB’s second-largest media market.
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