Los Angeles Angels owner Arte Moreno is exploring a sale of the baseball team, he said in a Tuesday statement.
“It has been a great honor and privilege to own the Angels for 20 seasons,” Moreno said. “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.”
Moreno paid about $184 million for the team in 2003 from The Walt Disney Co. The team is now estimated to be worth about $2.2 billion, according to Forbes.
Moreno has tapped Galatioto Sports Partners as financial advisors for the potential sale, which comes about three months after Anaheim city council members decided to cancel Moreno’s Angel stadium land agreement in the wake of an FBI corruption probe over the negotiations.
