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Stan Kroenke Expands Sports Empire With Los Angeles Angels Acquisition
Consumer Services · Other Consumer Services · cnbc · 2026-09-01
Billionaire Stan Kroenke has agreed to acquire a controlling interest in the Los Angeles Angels from the Moreno family, further diversifying his massive sports portfolio.
What Happened
Strategic Acquisition Details: Stan Kroenke, the chairman of Kroenke Sports and Entertainment, has reached an agreement to purchase a controlling stake in the Los Angeles Angels from the Moreno family. The transaction is slated for completion in the first quarter of 2027, though specific financial terms regarding the deal remain undisclosed.
Expansion of Sports Portfolio: This move marks a significant addition to Kroenke's already expansive sports empire, which was valued at over $26 billion earlier this year. By acquiring the Angels, Kroenke secures a foothold in Major League Baseball, complementing his existing ownership of the NFL's Los Angeles Rams, the NBA's Denver Nuggets, and the Premier League's Arsenal FC.
Market Presence and Infrastructure: The acquisition strengthens Kroenke's influence in the Southern California sports and entertainment landscape, where he already maintains a massive footprint. His existing assets include the $5 billion SoFi Stadium and the surrounding 300-acre Hollywood Park development in Inglewood, California.
Leadership Transition: Arte Moreno, who has stewarded the Angels franchise for over two decades, expressed confidence in the transition. He noted that Kroenke's extensive experience and track record of success in sports management make him the ideal successor to lead the organization into its next chapter.