The Angels and the city of Anaheim have agreed on a deal that would keep the baseball team in Orange County and sell the stadium to a company affiliated with Angels owner Arte Moreno.
In a tentative deal that’s been under negotiations for several years, the team is expected to remain in the city until 2050; Moreno’s SRB Management LLC will buy the stadium and the surrounding 133 acres of land for $325 million.
The sale agreement, which could result in future development of apartments, condominiums, hotels and entertainment uses at the site, will go before Anaheim’s City Council on Dec. 20.
“After years of uncertainty, we have a path forward for baseball in Anaheim,” said Mayor Harry Sidhu in a statement. “This proposal reflects what we’ve heard from our community by keeping the Angels in Anaheim, bringing money for our neighborhoods and the prospect of more affordable housing, parks and jobs for Anaheim.”
For details, including Platinum Triangle development coming from Arte Moreno and Henry Samueli, see the Dec. 9 print edition of the Business Journal.
