Arte Moreno Says He's Exploring Selling Angels; Bought Team in 2003

Los Angeles Angels owner Arte Moreno announced his family is exploring the possibility of selling the team, which they bought in 2003 for $182.5 million.

Moreno purchased the franchise from The Walt Disney Company. He had previously attempted to buy a controlling interest in the Arizona Diamondbacks before moving on to the Angels.

Moreno also became the first Mexican American to become a majority owner of an MLB franchise.

Forbes valued the Angels at $2.2 billion in March, the ninth-highest evaluation in MLB. It's been a dramatic rise in 20 years to say the least.

ESPN's Jeff Passan looked ahead at what a sale of the team could mean for the Angels, who have struggled in recent years despite having a pair of generational talents in Shohei Ohtani and Mike Trout.

The Angels made the playoffs five times in Moreno's first seven years, but they've been to the postseason just once since 2010 and not at all in the past seven seasons.

With that in mind, Sam Blum of The Athletic provided his take.

L.A. is all but certain to miss the playoffs for an eighth straight time in 2022 as the 52-70 team plays out the string of a lost season.