Stan Kroenke agrees to purchase Los Angeles Angels for 4 billion dollars

Outgoing Los Angeles Angels owner Arte Moreno reached an agreement to sell the franchise to Stan Kroenke for a reported 4 billion dollars. The transaction represents a record sale price for a Major League Baseball franchise, surpassing the recent 3.9 billion dollar deal for the San Diego Padres. The sale occurs amid ongoing collective bargaining agreement negotiations between the league and the MLBPA regarding potential payroll caps. Despite the team enduring 11 consecutive losing seasons and lacking a postseason appearance since 2014, the franchise achieved a significant return on the 180 million dollar purchase price Moreno paid in 2003. Future labor-management structures remain uncertain as the league navigates these discussions and media-rights challenges. The sale highlights the sustained investment strength of MLB clubs even as ownership groups continue to advocate for changes to the league's economic model.

• 8:10 PMCBS MLB — Arte Moreno's $4 billion Angels sale proves that MLB owners are doing just fine