Baseball News Hubb
Advertisement
  • Home
  • News
  • Baseball News
  • Contact us
No Result
View All Result
  • Home
  • News
  • Baseball News
  • Contact us
No Result
View All Result
Baseball News Hubb
No Result
View All Result
Home News

Arte Moreno Exploring Possible Sale Of Angels

admin by admin
August 23, 2022
in News


In a news release, the Angels ownership group announced that it is considering selling the team, and will start to explore a possible sale along with Galatioto Sports Partners (who have been retained as financial advisors during the process).

“It has been a great honor and privilege to own the Angels for 20 seasons,” owner Arte Moreno in the statement.  “As an Organization, we have worked to provide our fans an affordable and family-friendly ballpark experience while fielding competitive lineups which includes 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.  Throughout this process, we will continue to run the franchise in the best interest of our fans, employees, players, and business partners.”

While any number of factors may have weighed into the Moreno family’s thought process, it was less than three months ago that Anaheim’s city council ruled against a long-gestating deal that would have seen Moreno’s management group purchase Angel Stadium and the entire 150-acre property around the ballpark. Moreno’s group was planning to develop the area into a multi-purpose residential and commercial space, similar to other “ballpark village” developments that have become common around both newer baseball stadiums and other venues in other sports.

However, the tentative agreement between Moreno and the city fell apart, in large part due to an ongoing federal investigation concerning alleged corruption, violations of state laws, and insider information.  Former Anaheim mayor Harry Sidhu resigned his position, and the city council voted to overturn the Angel Stadium deal entirely in the wake of the scandal.

Though the stadium controversy led to fresh questions about the franchise’s future in Anaheim, it now seems like Moreno himself will be walking away from the Angels entirely.  Moreno originally bought the team in April 2003 for a price of $184MM, taking over operations from the Walt Disney Company in the wake of the Angels’ 2002 World Series championship season.

That 2002 title still stands as the franchise’s lone championship, despite Moreno’s efforts to remake the Angels into a big-spending perpetual contender.  Under Moreno’s stewardship, the Halos have regularly been at least a top-10 payroll team, even if Moreno’s willingness to spend didn’t lead to a willingness to cross the luxury tax threshold.  (2004 was the only season the Angels ever made a luxury tax payment.)

More to come…



Source link

Tags: arte moreno
Previous Post

The Yankees Have Fallen Into a Deep Funk

Next Post

Razzball Commenter Leagues, Week 19, 2022 Fantasy Baseball

Next Post

Razzball Commenter Leagues, Week 19, 2022 Fantasy Baseball

Recommended

Dodgers News: Dave Roberts Backs Down on Mookie Betts’ Playing Time at Second Base

March 13, 2023

NL West Notes: Garcia, Padres, Feltner, Dodgers, May

May 28, 2023

Reds win 7-5 on Spencer Steer’s walk-off 11th inning home run

July 1, 2023

FAAB Week 8: Are You Not Entertained?

May 21, 2023

Effectively Wild Episode 2009: Safe By a Hair

May 21, 2023

Don't miss it

News

AL Injury Notes: Bautista, Mountcastle, Correa, McGuire, Sandoval

September 27, 2023
News

Which Teams Are Best Built for Postseason Success?

September 27, 2023
News

Razzball Commenter Leagues, Week 25, 2023 Fantasy Baseball

September 27, 2023
Baseball News

The Top 10 • D1Baseball

September 27, 2023
Baseball News

Dodgers News: Mookie Betts Doesn’t Care About MVP Race, Focused on Winning World Series

September 27, 2023
News

Big Hype Prospects: Caminero, Langford, Holliday, Carter, Marte

September 26, 2023

© Baseball News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Baseball News
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • News
  • Baseball News
  • Contact us

© 2022 Baseball News Hubb All rights reserved.