Kroenke Sports and Entertainment acquires the Angels for four billion dollars

Kroenke Sports and Entertainment has finalized a deal to purchase the Angels. The transaction values the Major League Baseball franchise at 4.0 billion dollars, surpassing the previous record for an MLB team sale. Outgoing owner Arte Moreno, who acquired the franchise in 2003 for 183.5 million dollars, oversaw a period marked by fourteen losing seasons. The acquisition gives Kroenke majority ownership in teams across all four major American professional leagues. Future operations face potential questions regarding the long-term status of Angel Stadium and surrounding land, which are currently owned by the City of Anaheim. The team holds a lease extension through 2032 with options to remain at the site until 2038.

• 4:20 PMYahoo Sports — 🪽 Y! Sports Biz: Angels in the Owner's Box