Moreno exploring possibility of selling Angels

Posted: 24/08/2022 in MLB
Tags: , , , , , , ,

Los Angeles Angels owner Arte Moreno is looking into potentially selling his team, the 76-year-old businessman announced Tuesday.

The Angels retained Galatioto Sports Partners as a financial advisor to help with the process of exploring strategic alternatives.

“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 great players.

“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.”

Los Angeles only made the playoffs six times since Moreno took over in 2003. The last time the Angels competed in the postseason was in 2014.

The club has struggled in recent years despite fielding superstars such as Mike Trout and Shohei Ohtani. Moreno was also responsible for signing Trout to a 12-year, $430-million extension in March 2019, Anthony Rendon to a seven-year, $245-million contract in December 2019, and Josh Hamilton to a five-year, $125-million pact in December 2012.

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