Los Angeles Angels owner Arte Moreno has announced he is exploring selling the baseball team after years of disappointment on the field.
The team announced the beginning of a “formal process to evaluate strategic alternatives including a possible sale of the team” in a press release Tuesday.
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“It has been a great honor and privilege to own the Angels for 20 seasons. 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,” said Moreno. “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. Throughout this process, we will continue to run the franchise in the best interest of our fans, employees, players, and business partners.”
The announcement from Moreno comes months after the FBI opened an investigation into then-Anaheim Mayor Harry Sidhu for corruption relating to a deal to sell Angels Stadium of Anaheim to the team for $320 million. The deal was voided by the city after Sidhu resigned in May.
Moreno purchased the team, then known as the Anaheim Angels, from the Walt Disney Company for $184 million in 2003. Shortly after purchasing the team, the city of Anaheim sued Moreno over changing the name of the team from “Anaheim Angels” to “Los Angeles Angels of Anaheim.” Moreno won the lawsuit and later dropped the “of Anaheim” from the name.
The team has won six American League West division titles during Moreno’s ownership but has failed to win one since 2014. The Angels last had a winning season in 2015, and the team’s only World Series appearance and victory in 2002 occurred during Disney’s ownership.
The team currently has superstars Mike Trout and reigning American League MVP Shohei Ohtani but has struggled to win with the two players, who are seen as two of the best in MLB. The two superstars’ futures with the Angels are in question with the news of the potential sale of the team.
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The Angels currently have a record of 52-70 and are in fourth place in the AL West. The team is expected to miss the postseason for the eighth consecutive season.
