LOS ANGELES - In a surprise development that puts an end to a tumultuous ownership tenure, longtime Los Angeles Angels owner Arte Moreno agreed to sell the team to Stan Kroenke, who presides over the NFL's Los Angeles Rams.

Kroenke's purchase is for a "controlling interest" in the franchise and will be done through Kroenke Sports & Entertainment, the Kroenke holding company that also owns the NBA's Denver Nuggets, the NHL's Colorado Avalanche, the Colorado Rapids of MLS and Arsenal F.C. of the Premier League, according to a news release Tuesday.

The release stated that the transaction would close "in the first quarter of 2027," subject to approval of Major League Baseball.

The Angels were sold for a valuation of $4 billion, sources told ESPN's Buster Olney, beating the previous MLB record for a sale of $3.9 billion set by the Padres' new owner earlier this year.

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

Moreno, the first Latino majority owner in MLB, purchased the Angels from The Walt Disney Co. in 2003, on the heels of their first and only World Series championship, and immediately brought excitement to the franchise by bringing in the likes of Vladimir Guerrero and Bartolo Colon, lowering beer prices and turning the Angels into more of a national brand.

Kroenke, 79, moved the Rams from St. Louis back to Los Angeles in 2016 and later built SoFi Stadium in the middle of a 300-acre sports and entertainment hub in Inglewood, California, one of the major destinations for the 2028 Olympics. Under Kroenke's watch, the Rams quickly brought in a bevy of stars and went to the Super Bowl in just their third year back in L.A. They won it all in 2022 and are seen as prohibitive favorites going into the 2026 season. (Source: ESPN)

Story Date: September 1, 2026