Kroenke Sports & Entertainment Reaches Definitive Deal to Buy Angels; Expected Closing Early 2027

Stan Kroenke's Kroenke Sports & Entertainment has reached what it described as a definitive agreement to purchase the Los Angeles Angels from Arte Moreno, with the transaction set to close in early 2027. The acquisition would make Kroenke the first majority owner across all four major U.S. men's pro sports leagues: the NFL's Rams, NBA's Nuggets, NHL's Avalanche, as well as MLS's Rapids, the NLL's Mammoth, and the Premier League's Arsenal, per Front Office Sports. Multiple industry sources cited in Front Office Sports reporting pointed to a valuation of approximately $4 billion. If confirmed, that figure would set an MLB record and surpass the recently closed $3.9 billion transaction for the San Diego Padres. The 79-year-old Kroenke is the largest private landowner in the United States. Every sports holding under Kroenke's ownership has won league titles, according to Front Office Sports: the Rams won the Super Bowl, the Nuggets won the NBA championship, and the Avalanche won the Stanley Cup. As part of the Angels transaction, Kroenke is acquiring Angels Broadcast Television (ABTV), the regional sports network, and KLAA-AM, the Angels' radio broadcaster. Moreno has owned the Angels since 2003, when he purchased the franchise from the Walt Disney Company for $180 million. Per CBS Sports, Moreno realized an annualized return of roughly 14.4% from that purchase and sale over more than two decades of ownership. Moreno had previously placed the franchise on the market but abandoned those efforts in early 2023. The Angels organization has faced extended competitive struggles during Moreno's tenure. The team has already assured itself of an 11th consecutive losing season heading into 2026, has not reached the postseason since 2014, and has not won a playoff game since 2009, per Front Office Sports. Star player Mike Trout, under contract through 2030 as part of a 12-year, $426.5 million extension signed in 2019, said the ownership transition was "needed" and called Kroenke's track record compelling. "What a track record. Wherever he buys, he wins," Trout said after learning of the deal. After hearing the news, Trout called an unnamed Rams player to get his take on Kroenke and received a positive review. Kroenke has demonstrated significant expertise in sports venue development and mixed-use projects. His company developed SoFi Stadium in Inglewood, California, which has already hosted one Super Bowl and portions of the FIFA men's World Cup. and will serve as a key venue for the 2028 Los Angeles Olympics. Kroenke is also creating a mixed-use project in Woodland Hills anchored by the Rams' headquarters and training facility. However, Kroenke will inherit a fraught real estate situation tied to Angel Stadium, which is MLB's fourth-oldest ballpark after Fenway Park, Wrigley Field, and Dodger Stadium. Fenway, Wrigley, and Dodger have been dramatically upgraded in recent years; Angel Stadium is increasingly outdated and largely surrounded by surface parking. Moreno previously sought to acquire the city-owned ballpark as part of a larger redevelopment plan, but that agreement collapsed four years ago amid a corruption investigation of then-Anaheim Mayor Harry Sidhu. A subsequent Angel Stadium lease extension signed last year between the city and Moreno extends as far as 2038, which may constrain Kroenke's redevelopment options. There are ongoing political efforts seeking to encourage the Angels to drop their Los Angeles geographic signifier and return to the prior Anaheim name. Kroenke's media company Altitude Sports & Entertainment, which airs the Nuggets and Avalanche that Kroenke also owns, had a five-and-a-half-year contract dispute with Comcast that kept the network off that carrier until a new deal was reached in early 2025. ABTV, the Angels' network, airs the NHL's Kings and has distribution deals with Spectrum, DirecTV, and Cox. Angels broadcasts are led by Wayne Randazzo, Mark Gubicza, and Erica Weston; radio broadcasts by Mark Langston and Terry Smith, who have not resumed traveling to road contests since the COVID-19 pandemic began. Moreno recently turned baseball operations over to consultant and former Cardinals executive John Mozeliak, who has been given free rein to reshape the front office, coaching staff, and overall approach. Outgoing Anaheim Mayor Ashleigh Aitken expressed optimism about Kroenke's potential involvement in redevelopment: "If the deal goes through and is approved by Major League Baseball, I'm very hopeful that he's going to want to work with the city to come up with a really innovative development plan that would benefit the residents. Youth sports fields and housing and potentially hotel development, and make it a vibrant place." Kroenke said in a statement: "The Angels are a storied franchise in a great market. We look forward to an exciting future with the Angels organization." The transaction remains subject to approval by Major League Baseball before closing.