Baseball-Kroenke reaches deal to add Angels to sports portfolio

Sept 1 — Stan Kroenke has reached an agreement to add Major ​League Baseball's Los Angeles Angels to his portfolio of professional sports teams.

The transaction is expected to close ‌in the first quarter of 2027, subject to customary closing conditions and ⁠approval by MLB, Kroenke ​Sports & Entertainment and the ⁠Angels said in a joint press release on Tuesday.

Kroenke ‌already owns the ‌NFL's Los Angeles Rams, the NBA's Denver Nuggets, ⁠the NHL's Colorado Avalanche, MLS ⁠club Colorado Rapids, and Arsenal of the Premier League.

"The Angels are a storied franchise anchored in a great market," said Kroenke. "We look forward to an exciting future with the Angels organization."

The Angels, purchased by ‌Arte Moreno in 2003 on the ​heels of their only World Series triumph, were ranked by Forbes in March as MLB's 11th most valuable franchise at $2.8 billion.

Moreno spent aggressively on big-name free agents but that approach often left the rest of the roster thin. The team are heading towards an ​11th consecutive losing season and will extend MLB's longest ‌active postseason drought ‌to ⁠a 12th season.

"The Angels Organization is pleased to announce this transaction with Kroenke Sports & Entertainment," said Moreno.

"The Moreno Family has been honored to steward the Angels for 23 ‌years and we believe ​with KSE's experience and success ‌they are the ⁠best next ​owner for the franchise."

(Reporting by Frank Pingue in TorontoEditing by ​Toby Davis)

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