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Los Angeles Angels NOT for sale as Arte Moreno takes club off market and plans to remain owner for ‘2023 season and beyond’…saying family has ‘unfinished business’ of winning a World Series
The Los Angeles Angels will continue to be owned by the Arte Moreno family, after the franchise completed an exploratory process to sell the team.
In a statement posted on the Angels’ social media, Moreno said his family still believes they can have a “positive impact” on the team in the coming seasons.
“During this process, it became clear that we have unfinished business and feel that we can have a positive impact on the future of the team and the fan experience,” Moreno said in a statement.
Angels owner Arte Moreno says the team is no longer for sale and he will continue to own it
“This offseason we committed to a franchise-record roster of players and we still want to achieve our goal of bringing a World Series Championship back to our fans. We are excited for this next chapter of Angels Baseball.
‘We thank Galatioto Sports Partners for their outstanding efforts throughout the process that allowed us to meet with a number of highly qualified individuals and groups who expressed great interest in the club.
“However, as the discussions progressed and began to crystallize, we realized that our hearts remain with the Angels and we are not ready to part ways with the fans, the players and our employees.”
The Angels haven’t made the playoffs since 2014, despite the acquisition of Shohei Ohtani.
Since Moreno bought the team in the spring of 2003, the season after they won their only World Series title, the Angels have reached the postseason six times in 20 seasons. They are currently in the middle of a drought, having not made the playoffs since 2014.
In that time, they went to the American League Championship Series, losing both times to the eventual World Series champions. In 2005, they lost in five games to the Chicago White Sox. In 2009, they lost in six to the New York Yankees.
The 2023 season could be the last for Angels star player Shohei Ohtani, whose contract expires at the end of the year.
Los Angeles currently has the 10th-highest 26-man payroll in the majors, paying $172 million. according to Spotrac.
Moreno will now have to foot the bill for possible improvements to the 50-year-old Angels Stadium.
Moreno will now also have to find a way to negotiate a deal for a new stadium, currently owned by the city of Anaheim.
A $320 million deal to sell the property to Moreno’s business partnership was filed in May, shortly after the city’s mayor resigned.
The 56-year-old stadium was estimated to need around $150 million in improvements in 2013, which Moreno will now either pay for or eliminate in favor of a new stadium.