Nature

Los Angeles Angels owner Arte Moreno plans to sell the team


General Manager Billy Eppler and owner Artie Morena watch Joe Madden speak to the media at a press conference where he was introduced as the new manager of the Los Angeles Angels today during a press conference at Angel Stadium in ‘Anaheim on October 24, 2019 in Anaheim, California.

Jayne Kamin-oncea | Getty Images

Los Angeles Angels owner Arte Moreno is exploring a possible sale of the team and other strategic options, the team announced Tuesday.

“It has been a great honor and privilege to own the Angels for 20 seasons,” Moreno said in a statement. “Although this difficult decision was entirely our choice and deserved a lot of thought, my family and I have finally come to the conclusion that the time is right.”

The Angels are valued at $2.2 billion, according to Forbes. The team is under .500 for the season despite the outstanding performance of pitcher and designated hitter Shohei Ohtani.

Moreno, who bought the Angels in 2003 for $180 million, made most of his money with his company Outdoor Systems, which was bought by Infinity Broadcasting in 1999 for $8.7 billion.

The Angels have been embroiled in a political scandal in the city of Anaheim, where Disneyland is also based. According to the Los Angeles Times.

The issue is part of a larger scandal in Anaheim, according to the LA Times. The former head of the city’s Chamber of Commerce has been accused of lying to a mortgage lender, and the FBI has described a small group of officials, consultants and business leaders who sought to exert influence on the Anaheim government.


cnbc Business

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button