Stan Kroenke, owner of the Denver Nuggets, has announced the acquisition of a controlling stake in the Los Angeles Angels of Anaheim from the Moreno family. This deal is expected to close in the first quarter of 2027, although financial terms of the transaction have not been disclosed. Kroenke expressed enthusiasm about the future of the Angels, calling the franchise a "storied" organization positioned in a strong market.
With this purchase, Kroenke Sports and Entertainment (KSE) extends its already extensive portfolio, which includes ownership of franchises across all major professional sports. As reported in June, KSE is valued at over $26 billion, marking it as one of the world’s most valuable sports empires. The organization currently owns the NFL’s Los Angeles Rams, the NBA’s Denver Nuggets, and the NHL’s Colorado Avalanche, among others. Additionally, KSE holds ownership of the Premier League’s Arsenal Football Club and has significant real estate investments, including the SoFi Stadium and the Hollywood Park district in Inglewood, California.
Arte Moreno, who has overseen the Angels for the past 23 years, stated that he believes KSE’s experience and success make them the ideal new custodians of the franchise. The transition is expected to bring fresh energy and innovation to the Angels, aligning with Kroenke’s ambitions for growth within the sports and entertainment landscape.
Why this story matters
- The acquisition solidifies Kroenke’s influence across major U.S. professional sports.
Key takeaway
- Kroenke’s ownership expands KSE’s reach and enhances its position in the competitive sports market.
Opposing viewpoint
- Some fans may worry about the implications of having one owner dominate multiple sports franchises, potentially impacting the unique identity of each team.
