Topline
Billionaire Stan Kroenke’s company Kroenke Sports & Entertainment has agreed to buy a controlling stake in the Los Angeles Angels from fellow billionaire Arte Moreno, adding a Major League Baseball franchise to his portfolio of professional sports teams that already includes the Los Angeles Rams, Denver Nuggets, Colorado Avalanche and Arsenal F.C.
Stan Kroenke’s company agreed to purchase a controlling interest in the MLB franchise from another billionaire, Arte Moreno.
Getty Images
Key Facts
In a statement on Tuesday, the Angels announced Kroenke Sports & Entertainment, the company owned by the billionaire, entered a “definitive agreement” to purchase a controlling interest in the MLB team from the Moreno family.
The deal, whose value was not immediately disclosed, is expected to close in the first quarter of 2027, according to the team.
“We believe with KSE’s experience and success they are the best next owner for the franchise,” Moreno said in a statement on Tuesday, four years after he first explored selling the team.
Kroenke called the Angels, who are tied for last in their division this year with 53 wins and 85 losses, a “storied franchise anchored in a great market,” and promised an “exciting future” for the team.
Kroenke Sports & Entertainment now owns one team in each of the four major American sports leagues: the Los Angeles Rams in the NFL, the Denver Nuggets in the NBA and the Colorado Avalanche in the NHL.
Kroenke also owns English Premier League champion Arsenal F.C., Arsenal Women F.C., the MLS’s Colorado Rapids and the Colorado Mammoth, a professional lacrosse team.
This is a breaking story and will be updated.
Leave a comment