Los angeles: The owner of the LA Rams and Arsenal has made headlines by breaking a world record with a $4 billion acquisition of the LA Angels.
According to Thai News Agency, Kroenke Sports and Entertainment (KSE), led by Stan Kroenke, has successfully completed the acquisition of a majority stake in the Los Angeles Angels baseball team from Arte Moreno. This strategic move expands KSE's vast sports empire to include all major professional leagues in the United States by integrating the renowned baseball team into its business group.
The announcement, which came unexpectedly on Tuesday, outlines that the entire sale process is anticipated to be finalized by early 2027. Major League Baseball (MLB), which must approve the sale in accordance with its regulations, has not yet commented. However, major media outlets like The Athletic report that the deal's valuation of up to $4 billion sets a new record for the most expensive team sale in MLB history.
Kroenke's sports empire already encompasses several major sporting organizations, including the Los Angeles Rams (NFL), Arsenal (Premier League), Denver Nuggets (NBA), Colorado Avalanche (NHL), and Colorado Rapids (MLS). It also includes the world-class SoFi Stadium and the surrounding Hollywood Park area in Inglewood. The acquisition of the Angels marks the official conclusion of a turbulent 23-year period under Moreno's management.
Stan Kroenke expressed optimism about the acquisition, stating, "Angels is a club with a long history and is located in a very excellent market. We look forward to an exciting future with the Angels organization." Despite the change in ownership, Moreno will remain a minority shareholder, and the deal encompasses the team's local television and radio network as well.