Arsenal owner Stan Kroenke has completed the purchase of Major League Baseball franchise the Los Angeles Angels in a deal reportedly worth $4 billion.
The acquisition expands Kroenke’s sporting empire and makes him the owner of teams across six major professional sports leagues.
Kroenke has held a controlling stake in Arsenal since 2011. His portfolio now includes the Angels, NFL side Los Angeles Rams, NBA franchise Denver Nuggets, NHL team Colorado Avalanche, MLS club Colorado Rapids and English Premier League side Arsenal.
Although the official value of the transaction was not disclosed, the Los Angeles Times reported that the deal is worth around $4 billion, which would make it the most expensive sale of an MLB team.
The reported figure surpasses the $3.9 billion paid for the San Diego Padres in August. “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.”
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The purchase brings an end to Arte Moreno’s 23-year ownership of the Angels. Moreno acquired the franchise in 2003 but faced increasing pressure from supporters to sell amid the team’s prolonged struggles.
The Angels have failed to qualify for the MLB playoffs for 11 consecutive seasons. With less than a month of the regular season remaining, that run is expected to extend to 12 seasons, which would leave them with the longest active playoff drought in MLB. The franchise also holds one of the worst records in the American League this season.
Supporter frustration has intensified during the campaign, with protests becoming a regular feature at Angel Stadium.
The “Tarps Off” protest, in which fans removed their shirts and waved them above their heads, gained widespread attention online.
Supporters have also regularly chanted “sell the team” and “we want playoffs” during games, highlighting their dissatisfaction with the club’s performance.
Moreno said his family had been proud to oversee the Angels and expressed confidence that Kroenke’s experience would benefit the franchise.
“The Moreno family has been honoured to steward the Angels for 23 years and we believe with Kroenke Sports & Entertainment’s experience and success, they are the best next owner for the franchise,” Moreno said.
Kroenke now faces the challenge of turning around an Angels franchise that has struggled on the field while managing the expectations of supporters eager to see the team return to postseason baseball.
News Express
