Los Angeles Angels sale valued at $4B, reports say

The Los Angeles Angels sale to US billionaire Stan Kroenke is valued at $4 billion, multiple US outlets reported, after Kroenke agreed terms to buy a controlling interest in the baseball team.

The financial terms of the deal were not disclosed. The club said Tuesday that the purchase is expected to close early next year, pending Major League Baseball approval.

Kroenke said in a club statement that the Angels are “a storied franchise anchored in a great market” and that he looked forward to the team’s future.

Current owner Arte Moreno said the Angels organisation was pleased to announce the transaction with Kroenke Sports & Entertainment. He said the Moreno family had been honoured to steward the club for 23 years and believed Kroenke’s group was the best next owner.

Kroenke already owns several major sports franchises through his holding company, including the NFL's Los Angeles Rams, English Premier League club Arsenal, the NBA's Denver Nuggets, the NHL's Colorado Avalanche and Major League Soccer's Colorado Rapids.

The Angels play in Anaheim, near Los Angeles. They were previously owned by the Walt Disney Company and won their only World Series title in 2002.

Despite having Mike Trout and, until his move to the Los Angeles Dodgers in 2023, Shohei Ohtani, the Angels have not reached the playoffs since 2014. They are on course for their 11th straight losing season.

The previous highest MLB sale price was $3.9 billion for the San Diego Padres earlier this year by Jose E. Feliciano, co-owner of Premier League club Chelsea, and his wife, Kwanza Jones.