The surprise announcement was made Tuesday morning by Kroenke Sports and Entertainment and the Los Angeles Angels of Anaheim.
The sale of the team is expected to be completed in the first part of 2027, according to the press release. The sale is subject to the approval of Major League Baseball.
Angels owner Arte Moreno bought the team in 2003 for $183 million. The Moreno family is expected to keep a minority stake in the team.
“The Angels Organization is pleased to announce this transaction with Kroenke Sports & Entertainment,” Moreno said. “The Moreno Family has been honored to steward the Angels for 23 years and we believe with KSE’s experience and success they are the best next owner for the franchise. The Angels Organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners.”
