If you’ve saved $2.5 billion to buy the Los Angeles Angels, you’ll have to hold on to that money for now or spend it elsewhere.
University of Arizona alum Arte Moreno announced Monday he is no longer considering selling the team after previously announcing a possible sale.
During this process, it became clear that we have unfinished business and feel we can make a positive impact on the future of the team and the fan experience,” Moreno said in a statement. “This offseason, we committed to a franchise record player payroll, and still want to accomplish our goal of bringing a World Series championship back to our fans.”
Today, the #Angels announced that the Moreno Family is ending the exploratory process to sell the team and will continue ownership throughout the 2023 Season and beyond. pic.twitter.com/aokYfba1Dp— Los Angeles Angels (@Angels) January 23, 2023
Despite boasting two of the best players in baseball, Shohei Ohtani and Mike Trout, the Angels haven’t turned that star power into tangible results on the field.
The Angels have not had a winning record since 2015 and last made the playoffs in 2014 when they were swept by the Royals in the American League Division Series.
Moreno, 76, acquired the Angels from Walt Disney Company in 2003 for $180 million. According to an ESPN article, a sale of the franchise was expected to net somewhere in the ballpark of $2.5 billion.
A Tucson native, Moreno graduated from the UA in 1976 with a degree in marketing. Moreno became president and CEO of billboard company Outdoor Systems in the 1990s and took the company public in 1996.
Moreno is clearly confident the Angels will turn the corner this season. If the Angels succeed in 2023, it likely won’t be because of their farm system, which was ranked last in baseball according to MLB.com.
The Angles do have an exciting prospect in former Arizona pitcher Chase Silseth, who made seven starts last season, going 1-3 with a 6.59 ERA and 24 strikeouts. The 22-year-old Silseth will be competing for a starting rotation spot at Spring Training.