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L.A. Times Owner Patrick Soon-Shiong Considering Angels Bid; Net Worth $6.9B

Erin WalshSeptember 10, 2022

Meg Oliphant/Getty Images

Patrick Soon-Shiong, the owner of the Los Angeles Times, is considering placing a bid to purchase the Los Angeles Angels, according to Bill Shaikin of the Los Angeles Times.

Soon-Shiong's net worth is $6.9 billion, according to Forbes. The Halos are expected to sell for around $2.5 billion.

Soon-Shiong tried to buy the Los Angeles Dodgers in 2012. The Times cited Sportico as being first to report Soon-Shiong's interest in the Angels.

Angels owner Arte Moreno revealed last month that he was going to explore a sale of the team after 20 years of ownership.

Moreno said in a statement at the time, per ESPN's Alden Gonzalez:

"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."

The sale of the franchise is not expected to gain steam until the offseason. Golden State Warriors owner Joe Lacob, Japanese investors and investors from Hollywood and Orange County are reportedly among the other groups weighing whether to place a bid.

The potential sale of the franchise comes amid another disappointing season for the Angels despite the club boasting a roster that includes sluggers Mike Trout and Shohei Ohtani, who is also a star on the mound.

L.A. has been hit hard by injuries to Anthony Rendon, Jared Walsh and others this year, but it's no excuse for another down season. The Halos sit third in the AL West with a 60-78 record and are on pace to miss the playoffs for the eighth straight season.

The club's struggles have resulted in it firing manager Joe Maddon, which came in June, and replacing him with Phil Nevin in the interim.

So, in addition to searching for a new owner this winter, the club will also be looking for a new manager in hopes of pointing the team in the right direction.

The Washington Nationals are currently the only other major league club expected to hit the market this winter.

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