Sept 1 (Reuters) - 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)
