Kroenke to buy baseball's Los Angeles Angels: statement

Stan Kroenke, a US billionaire with a real estate fortune, has agreed to purchase the Los Angeles Angels baseball team, according to a statement released by the club. The financial details of the deal remain undisclosed, but reports suggest a staggering $4 billion valuation, setting a new Major League Baseball record. The Angels have struggled with losing records for the past 11 seasons, and Kroenke's acquisition is expected to finalize early next year, subject to league approval.

Kroenke's expansion of his sports franchise empire now includes the NFL's Los Angeles Rams, the English Premier League's Arsenal, and the Denver Nuggets NBA basketball team, among others. He is married to an heiress from the Walmart retail empire. The previous highest MLB sale price was $3.9 billion, paid for the San Diego Padres by Jose E. Feliciano and his wife in 2022.

Kroenke expressed excitement about the future of the Angels organization in his statement, stating their anticipation for an "exciting future" with the team. The Angels, a storied franchise based in a major market, were previously owned by the Walt Disney Company. Current owner Arte Moreno welcomed the acquisition, praising Kroenke Sports & Entertainment for their experience and success. The Angels won their sole World Series title in 2002, but have not reached the playoffs since 2014.