Some big news broke this afternoon out of Los Angeles, as it was revealed that Arte Moreno, the longtime owner of the Los Angeles Angels, will be exploring a potential sale of the team.
Moreno has been the team’s owner since 2003.
He acquired them for $184 million at the time.
Since then, however, the Angels haven’t had much success, having gone to the postseason a few times, but only reaching the ALCS twice, and losing each time.
It looks like the Angels’ ownership group is about to receive a massive payday.
According to Forbes, the Angels are MLB’s ninth most valuable franchise at $2.2 billion.
That amounts to a 1,095% gain over 20 years.
The Los Angeles Angels have announced that owner Arte Moreno is exploring a sale of the team.
Moreno acquired the Angels in 2003 for $184 million, and Forbes says they are currently MLB's 9th most valuable franchise at $2.2 billion.
That would be a 1,095% gain over ~20 years. pic.twitter.com/LVQx4S3Aij
— Joe Pompliano (@JoePompliano) August 23, 2022
A Large Payday Coming?
With the Angels being so valuable, the ownership group is about to receive a massive payday.
Moreno has been the owner of the Halos since 2003 and it appears that he may be ready to go a different direction.
A lot might change for the Angels here soon.
But one thing is for certain.
Moreno is about to be billions richer, that is, if he ultimately sells the team.
It looks like that will be the path Moreno ultimately chooses.
The Angels have had a miserable season to date.
They currently sit at 52-70 and are well out of postseason contention at this point.
After a hot start to the season, the Angels came tumbling down and now find themselves 25.5 games out in the AL West and 14 games out in the Wild Card race.
Perhaps now is the right time for Moreno to sell the team, if that’s what he ultimately does.
If that’s the case, then he’ll be quite a bit richer very soon.
NEXT: MLB Insider Shares The Fallout Of An Angels Sale