MLB free agency overhaul could spark a winter signing frenzy
MLB proposes free agency overhaul that could turn the Winter Meetings into a fast paced signing frenzy.
Arizona native and Los Angeles Angels owner Arturo “Arte” Moreno has sold his controlling interest in the team to Kroenke Sports and Entertainment.
ESPN reported the news on Tuesday, Sept. 1. The Angels later issued a statement confirming the sale.
Kroenke Sports and Entertainment is led by Stan Kroenke. The group owns the NFL’s Los Angeles Rams, the team’s homefield SoFi Stadium and its Hollywood Park campus around the arena, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, Major League Soccer’s Colorado Rapids and Arsenal F.C. of the English Premier League.
Moreno, who’s from Tucson and graduated from the University of Arizona, bought the Angels from the Walt Disney Company in 2003, the year after they won their only World Series title. He was the first Latino majority owner in MLB.
Moreno, who lives in Phoenix, became a billionaire largely through his billboard advertising company Outdoor Systems, which he sold in 1998 for $8 billion.
“The Angels are a storied franchise anchored in a great market,” Kroenke said in a statement. “We look forward to an exciting future with the Angels organization.”
The team statement said the Moreno Family’s sale is “expected to close in the first quarter of 2027.”
The Angels conduct their spring training as part of the Cactus League in Tempe at their practice complex surrounding Tempe Diablo Stadium.
Moreno continues his business ventures in the Valley. Earlier this year, he announced a plan for a 20-acre site that he owns in Gilbert’s Santan Village Parkway and Williams Field Road area to develop a multi-phase retail project with shops, a bank, drive-through restaurants and full-service restaurants.
He bought that site for $24.5 million in 2025. Moreno’s partner on the project is Macerich, the owner and operator of several Valley malls and shopping centers, including Scottsdale Fashion Square and Arrowhead Towne Center.
