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ANAHEIM, Calif. -- Kroenke Sports and Entertainment reached a deal to purchase controlling ownership of the Los Angeles Angels from Arte Moreno, expanding its sprawling empire of teams across every major U.S. professional sport with the addition of the beleaguered baseball club.
The company led by Stan Kroenke made the surprising announcement Tuesday, saying it expects to close on the transaction in early 2027. Major League Baseball, which must approve any sale, didn't immediately comment on the news, but The Athletic reported the deal is being done at a $4 billion valuation -- a record for an MLB team.
"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."