The Los Angeles Angels stated on Tuesday that team owner Arte Moreno is considering various strategic options, including the organization’s potential sale.
In a release, Moreno said, “It has been a wonderful honour and joy to own the Angels for 20 seasons. “My family and I have ultimately decided that the time is now, even though this painful decision was totally our choice and merited a great lot of deliberate contemplation.”
Forbes estimates The Angels’ market value at $2.2 billion. Despite Shohei Ohtani’s outstanding play as a pitcher and designated hitter, the team’s season record is below.500.
The majority of Moreno’s wealth came from his company Outdoor Systems, which Infinity Broadcasting acquired in 1999 for $8.7 billion and for which he paid $180 million to acquire the Angels in 2003.
In the city of Anaheim, which also houses Disneyland, The Angels have been linked to a political controversy. According to the Los Angeles Times, the FBI claimed in a court document that Anaheim’s since-resigned mayor, Harry Sidhu, is thought to have given Angels representatives access to private information regarding the city’s intended sale of Angel Stadium in exchange for a donation to his reelection campaign.
The L.A. Times claims that the matter is a component of a wider scandal in Anaheim. The FBI has outlined a tiny group of public officials, consultants, and business executives who sought to influence Anaheim’s administration, and the former director of the city’s chamber of commerce faces charges of obstructing justice.