He knew the value of buying an undervalued asset long before he ever set foot in professional sports in 1995, when he purchased a minority stake in the NFL's St. On Tuesday, Sept. 1, Kroenke dipped his toe into baseball by purchasing a Los Angeles Angels team at a true low point in franchise history. The Angels haven't reached the postseason since 2014 or won a playoff round since 2009 — longer than any team in the league.
The transfer of ownership from Arte and Carlos Moreno, who had owned the team since May 2004, also comes as MLB and the players' union are on the brink of what could be a protracted labor stoppage. The Collective Bargaining Agreement that governs the sport is set to expire Dec. 1. For Angels fans — who have held signs and chanted slogans urging Moreno to sell the team throughout another losing season — the timing is just right.
We look forward to an exciting future with the Angels organization,” Kroenke said in a statement. The sale is expected to officially close in the first quarter of 2027, subject to customary closing conditions and approval by Major League Baseball. The purchase price of the team is not yet known.
More news: MLB’s Proposed Free Agent Moratorium Has Obvious Winners, Losers Once he assumes control, Kroenke will have questions to answer about the leadership of the franchise. Earlier this year, the Angels named Molly Jolly team president. She then fired general manager Perry Minasian and replaced him on an interim basis with John Mozeliak.
Whether Jolly and Mozeliak will continue in their roles under Kroenke remains to be seen. Until then, the effect of the new regime on the Angels' on-field product remains questionable. For fans who were looking forward to anyone not named Moreno owning the team for the first time in decades, the answers can wait.
Kroenke's teams have won two Super Bowls, two Stanley Cups, and one championship in the NBA and MLS. The next ring the Angels can count will be long overdue. For more MLB news, visit Newsweek Sports.
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