Out of seemingly nowhere, Stan Kroenke, one of the wealthiest people in America, agreed to purchase a majority stake in the Los Angeles Angels from longtime owner Arte Moreno.It had been rumored in recent years that Moreno was considering a sale, but a deal never materialized.
Until now.The price Kroenke paid for the Angels was estimated at a record-breaking $4 billion, representing an enormous return for Moreno who purchased the franchise for just over $180 million from the Walt Disney Company back in 2003.It was also, at first glance, a significant price for an organization that has the longest postseason drought in baseball.
Despite having Mike Trout and Shohei Ohtani on the same roster for several seasons, the Angels have not reached the playoffs since 2014.ARTE MORENO ERA OFFICIALLY OVER AS ANGELS SELL TO RAMS OWNER STAN KROENKE FOR $4BLos Angeles Angels owner Arte Moreno gets ready for a game against the Kansas City Royals at Tempe Diablo Stadium on March 14, 2025.(Rick Scuteri/Imagn Images)The immediate question, then, is why? Why would Kroenke, an eminently talented and successful businessman who's already principal owner of organizations like the Los Angeles Rams, Arsenal FC and the Denver Nuggets, now turn his attention to, well, the polar opposite?And the answer explains why so much of the information coming from Major League Baseball and the league's owners is misleading, at best.With the Collective Bargaining Agreement between the league and MLB Players Association expiring at the end of the season, it's widely expected that the owners will lock the players out until a new deal can be reached.
The largest point of contention between the two sides is disagreement over a potential salary cap.Players have, for decades, said a salary cap is a red line they will never accept.While owners are hoping to take advantage of widespread, and inaccurate, fan sentiment believing that a salary cap is necessary for the league to achieve competitive balance.Arsenal ...