Angels owner Arte Moreno said he is considering a sale of the team he has owned for 20 Major League Baseball seasons.
Moreno and the Angels made the announcement Tuesday in a statement confirming the organization started a process that includes a possible sale of the team. No timeline for a sale was included in the statement.
“It has been a great honor and privilege to own the Angels for 20 seasons," Moreno said. "As an Organization, we have worked to provide our fans an affordable and family-friendly ballpark experience while fielding competitive lineups which included some of the game’s all-time greatest players.
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“Although this difficult decision was entirely our choice and deserved a great deal of thoughtful consideration, my family and I have ultimately come to the conclusion that now is the time. Throughout this process, we will continue to run the franchise in the best interest of our fans, employees, players, and business partners.”
The Angels Organization retained Galatioto Sports Partners as a financial advisor for the process. Additional details were not provided.
Moreno bought the team for about $180 million from the Walt Disney Co. in 2003. The announcement comes about three months after the city of Anaheim's planned sale of Angel Stadium to Moreno's company was scrapped amid a political scandal that led the mayor to resign.
The Angels have a lease to play at Angel Stadium through 2029 with the option for three three-year extensions through 2038.
The city released a statement Tuesday.
"We have seen three Angels owners since the team moved here in 1966. While team sales do not happen every day, they are a fact of life in sports. This is a potential decision for Arte Moreno based on his investment and family considerations. Should we see new ownership, we look forward to continuing a great tradition of baseball in Anaheim.''
Despite a roster that includes two-way sensation Shohei Ohtani and three-time AL MVP Mike Trout, the Angels are well below .500 and sit 25.5 behind the first-place Astros.
The franchise's last World Series title was in 2002. The Angels are set to miss the postseason for the eighth straight year.
Ohtani is eligible for free agency after the 2024 season. The Angels could decide to trade the two-way star before then.
Trout is signed through 2030 on a $426.5 million, 12-year deal.
Moreno, a Mexican-American born in Arizona, is the only non-white controlling owner in Major League Baseball. The Angels are the second MLB team currently for sale, joining the Washington Nationals.
