EDITOR'S NOTE: Multimedia journalist Logan Hall spoke with an Angels super fan and a Concordia University sports business professor about the team. Click the arrow above to watch the video.

ANAHEIM, Calif. — After owning the Los Angeles Angels for nearly 20 years, the owner of the Angels, Arte Moreno, is exploring the sale of the embattled team.

What You Need To Know

  • The potential sale of the Angels comes as the team underwhelms on the field and is embroiled in controversy outside of it
  • During Arte Moreno's tenure as owner, the Angels made the playoffs six times, five of which came from the first seven seasons of owning the team
  • An Angels source told Spectrum News that the recent events have absolutely nothing to do with Moreno’s decision to sell the team
  • Anaheim spokesperson Mike Lyster said the city would welcome a new owner if a deal transpires

The multi-billionaire Moreno released a statement Tuesday saying that now is the time to begin the process.

“It has been a great honor and privilege to own the Angels for 20 seasons,” said Moreno in a statement. “As an organization, we have worked to provide our fans an affordable and family-friendly ballpark experience while fielding competitive lineups, which included some of the game’s all-time greatest players.

“Although this difficult decision was entirely our choice and deserved a great deal of thoughtful consideration, my family and I have ultimately come to the conclusion that now is the time,” added Moreno. “Throughout this process, we will continue to run the franchise in the best interest of our fans, employees, players, and business partners.”

The statement said the Angels organization retained Galatioto Sports Partners as financial advisers for the process. GSP represented the Walt Disney Co. in the Angels’ sale to Moreno in 2003.

An Angels spokeswoman had no further comment about the potential sale.

The potential sale of the Angels comes as the team underwhelms on the field and is embroiled in controversy outside of it.

Moreno, a successful billboard advertising executive, purchased the Angels from Disney for $183 million in 2003. Moreno was the third owner of the Angels, after Disney and original owner “Singing Cowboy” Gene Autry. Autry founded the team starting in 1961.

Under Disney’s leadership, the team won its only World Series in 2002.

Moreno is known more for lowering beer prices when he acquired the team and changing the name from Anaheim to the much-maligned and joked about Los Angeles Angels of Anaheim.

On the field, however, Moreno’s team was known for signing aging stars to massive contracts and barely sniffing playoff success.

During his tenure as owner, the Angels made the playoffs six times, five of which came from the first seven seasons of owning the team.

In the last 10 years, despite having the best player in baseball, Mike Trout, the team has only had four winning seasons with one playoff appearance.

Meanwhile, the team’s crosstown rival, the Los Angeles Dodgers, consistently made the playoffs and won the World Series in 2020.

This season, the Angels, with lofty playoff and possible World Series expectations, collapsed. The team parted ways with manager Joe Maddon after an early season slump, Trout has been injured, and all-world two-way player Shohei Ohtani is carrying an underperforming squad.

As of Tuesday, the team is 52-70 and sits 25 games back from the first-place Houston Astros.

Off-the-field, Moreno and the Angels have also been embroiled in controversy.

For more than a decade, Moreno and the landlord, the city of Anaheim, have butted heads over who is responsible for the upkeep and maintenance of Angel Stadium, the fourth oldest ballpark in Major League Baseball. According to reports, the stadium needs more than $200 million in deferred infrastructure maintenance.

That issue seemed to have been resolved last year when the city struck an agreement to sell the stadium and surrounding parking lot to Moreno and his commercial real estate firm for $320 million ($150 million in cash and $170 million in community benefits).

Moreno’s commercial real estate firm had grand plans to build apartments, hotels, retail, restaurants and entertainment venues around the refurbished or perhaps brand new Angels baseball stadium.

However, the city later nixed the sale after the FBI revealed they were investigating then Anaheim Mayor Harry Sidhu for corruption.

The FBI claims Sidhu, who resigned from his post in May, shared sensitive city information with an Angels representative before the stadium negotiations hoping to solicit a $1 million political contribution from the team toward his reelection campaign in November.

Sidhu, through an attorney, denies any wrongdoing.

An Angels source told Spectrum News that the recent events have absolutely nothing to do with Moreno’s decision to sell the team.

Throughout his ownership, Moreno has also been active in the community through his family’s Arizona-based charitable foundation that supports education and underprivileged youths.

According to Forbes, the Angels are valued at about $2 billion.

Anaheim spokesperson Mike Lyster said the city would welcome a new owner if a deal transpires.

“While team sales don’t happen every day, they are a fact of life in sports,” said Lyster in a statement to Spectrum News. “This is a decision for Arte Moreno based on his investment and family considerations. Should we see new ownership, we look forward to continuing a great tradition of baseball in Anaheim.”