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.
Joe Pompliano @JoePompliano
The Los Angeles Angels have announced that owner Arte Moreno is exploring a sale of the team.<br><br>Moreno acquired the Angels in 2003 for $184 million, and Forbes says they are currently MLB's 9th most valuable franchise at $2.2 billion.<br><br>That would be a 1,095% gain over ~20 years. <a href="https://t.co/LVQx4S3Aij">pic.twitter.com/LVQx4S3Aij</a>
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.
Jeff Passan @JeffPassan
The fallout from Arte Moreno selling the Angels would be monumental. <br><br>1) Opens the door to a Shohei Ohtani trade -- or record-setting extension.<br><br>2) With enormous revenues, Angels still have never had a payroll over $183M. That'll change.<br><br>3) MLB's most hands-on owner is gone.
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.
Sam Blum @SamBlum3
The Angels have been perpetual losers for years with Arte Moreno owning the team. They haven’t had a winning season since 2015 & have 0 playoff wins 2009. The criticism has been warranted.<br><br>A new owner could change lots of things. Payroll/strategy among the most significant.
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.