Fans of the Los Angeles Angels received groundbreaking news as Arte Moreno agreed to sell the franchise. After two decades of mixed success and internal turmoil, Moreno opted to part ways with the team. Billionaire Stan Kroenke, known for owning the Rams, Nuggets, and Avalanche, stepped in, acquiring the Angels for $4 billion. This transaction marks the most expensive sale in Major League Baseball history.

In a statement, Kroenke expressed enthusiasm for the future with the Angels organization, recognizing the franchise’s storied history and market potential. The sale price surpasses previous records held by the Padres and the Mets. Across American sports, the deal is comparable to significant transactions like Mat Ishbia’s acquisition of the Phoenix Suns.

Moreno bought the Angels in 2003 shortly after their World Series win and oversaw the team for 23 years. Despite Moreno’s stewardship, the Angels have endured a lengthy playoff drought since 2014. The prime years of Mike Trout and Shohei Ohtani were squandered during this period, with Ohtani eventually moving to the Dodgers.

Under Moreno’s ownership, the team faced criticism for poor contract choices and instability within the front office. Moreno initially explored selling the team in 2023 but pulled it from the market, citing unfinished business before eventually sealing the deal with Kroenke. The transaction, pending MLB approval, is expected to officially close in 2027.

The news prompted celebrations outside Angel Stadium, with fans eager for a change in leadership. Kroenke’s history of success with his other sports holdings offers hope for a brighter future. The Angels now look forward to a fresh start, aiming for competitive success under new ownership.