Stan Kroenke to acquire Los Angeles Angels for $4 billion

Kroenke Sports & Entertainment has announced the acquisition of the Los Angeles Angels from longtime owner Arte Moreno for $4 billion. Moreno, who held ownership of the franchise for 23 years, has reached an agreement to sell the team to Stan Kroenke.

Kroenke, who already owns several major sports franchises including the Denver Nuggets, Los Angeles Rams, Colorado Avalanche, and Arsenal Football Club, will add the Angels to his portfolio, marking his first entry into Major League Baseball. The sale follows a period of criticism regarding the team's management and investment under Moreno's ownership.