Stan Kroenke Set to Buy Majority Stake in Angels
CNBC reports Kroenke has agreed to acquire a majority stake in the Los Angeles Angels from Arte Moreno, valuing the MLB club at $4 billion.
Stan Kroenke has agreed to buy a majority stake in the Los Angeles Angels from Arte Moreno, CNBC reported on 2 September, citing people familiar with the talks.
The deal values the club at $4 billion, according to the report, which builds on an earlier CNBC estimate. The size of Kroenke's stake and the rest of the financial terms have not been disclosed.
CNBC has previously put the worth of Kroenke's holding company, Kroenke Sports and Entertainment, at roughly $26 billion. KSE already owns the NFL's Los Angeles Rams, the NBA's Denver Nuggets, the NHL's Colorado Avalanche, MLS's Colorado Rapids and the Premier League's Arsenal, along with SoFi Stadium, home ground for the Rams and the Chargers.
Moreno bought the Angels in 2003, when the club was valued at $183.5 million. The Angels, founded in 1961, play at Angel Stadium, which seats 45,517.
A sale at $4 billion would mark one of the larger jumps in value for an MLB franchise since Moreno's purchase, and would bring the Angels under the same ownership umbrella as Arsenal and three other major North American franchises.
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