ESPN reports that Los Angeles Angels owner Arte Moreno has agreed to sell the team's controlling stake to Los Angeles Rams owner Stan Kroenke at a valuation of $4 billion, a record for a Major League Baseball team sale.

The acquisition will be completed through Kroenke Sports & Entertainment, which also owns the Denver Nuggets of the NBA, Colorado Avalanche of the NHL, Colorado Rapids of the MLS, and Arsenal of the Premier League.

The announcement states that the deal is expected to close in the first quarter of 2027, pending approval from Major League Baseball.

Sources told ESPN reporter Buster Olney that the Angels sale values the team at $4 billion, surpassing the previous MLB team sale record of $3.9 billion set by the new Padres owner earlier this year.

Kroenke said in a statement, "The Angels are a franchise with a storied history, rooted in an excellent market. We look forward to an exciting future with the Angels."

Moreno is the first Latin American controlling owner in Major League Baseball history. He purchased the Angels from The Walt Disney Company in 2003, shortly after the team won its only World Series championship. Moreno subsequently signed stars like Vladimir Guerrero and Bartolo Colon, reduced beer prices, and gradually elevated the Angels into a nationally recognized brand.

Between 2004 and 2009, the Angels won the AL West five times. From 2003 to 2019, the team's attendance exceeded 3 million annually. In 2011, the Angels also signed a $3 billion television rights deal with Fox Sports over 20 years, and later signed high-priced free agents including Albert Pujols, Josh Hamilton, and C.J. Wilson.

However, since 2010, the Angels have made the playoffs only once, squandering the prime years of Mike Trout and Shohei Ohtani, and are projected to finish the season with a losing record for the 11th consecutive year. During this period, Moreno has been criticized for micromanaging baseball operations and failing to invest sufficient resources to keep the team competitive.

In recent months, signs of change have emerged. John Mozeliak, the longtime head of baseball operations for the St. Louis Cardinals, was hired as an advisor with full authority to trade players still under team control and to restructure management and coaching staff. Nevertheless, chants of "Sell the team!" have continued at Angel Stadium this season.

Moreno said in a statement: "The Angels are pleased to announce this transaction with Kroenke Sports & Entertainment. The Moreno family has been honored to operate the Angels for 23 years, and we believe that with Kroenke Sports & Entertainment's experience and track record of success, they are the ideal new ownership for this franchise. The Angels look forward to continuing to serve our fans, employees, players, and business partners."

Moreno, 80, announced the Angels' sale in August 2022 but withdrew from the potential deal nine months later. Sources familiar with Moreno's thinking estimated he would eventually sell the team, but many hoped he would at least wait until a new collective bargaining agreement was negotiated, as a potential salary cap increase could boost the franchise's valuation.

Kroenke, 79, relocated the Rams from St. Louis back to Los Angeles in 2016, then built SoFi Stadium within a 300-hectare sports and entertainment complex in Inglewood, California. Inglewood is a key venue for the 2028 Olympics.

Under Kroenke's ownership, the Rams quickly assembled a roster of star players and reached the Super Bowl just three years after returning to Los Angeles. The team ultimately won the championship in 2022 and is considered one of the favorites heading into the 2026 season.

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