One of Arizona’s most high-profile—and wealthy—alumnus might be putting his prized possession on the market.
The Los Angeles Angels announced Tuesday that owner Arte Moreno is considering selling the team that he’s owned since 2003.
Today, Angels Baseball announced that the Organization has initiated a formal process to evaluate strategic alternatives including a possible sale of the team. pic.twitter.com/ZdQb34V4Ns— Los Angeles Angels (@Angels) August 23, 2022
Moreno, 76, bought the Angels from Disney for $180 million. According to Forbes.com, as of March 2022 the team was worth $2.2 billion, making it the ninth-most valuable franchise in Major League Baseball.
A 1973 graduate of the UA, Moreno made his money in billboards, selling his company Outdoor Systems for $8 billion in 1998.
The Angels, who won the 2002 World Series, have been one of baseball’s most underachieving franchises during much of Moreno’s ownership. Despite having two of the best players in the game in outfielder Mike Trout and two-way phenom Shohei Ohtani, the Angels haven’t made the postseason since 2014 and last won a playoff series in 2009.
This year the Angels are 52-70, the fourth-worst record in the American League, and in June fired manager Joe Maddon.