Stan Kroenke to buy Los Angeles Angels as Mark Walter faces scrutiny

Major shifts are occurring in Major League Baseball ownership. Stan Kroenke has reached an agreement to purchase the Los Angeles Angels from Arte Moreno in a deal reported at $4.5 billion. Magic Johnson, a minority owner of the Los Angeles Dodgers, publicly endorsed the move, citing Kroenke’s history of championship success with the Rams, Avalanche, and Nuggets.

Separately, Los Angeles Dodgers owner Mark Walter is facing scrutiny following reports of improper business dealings with Magic Johnson. Allegations suggest that a $350 million sale of the insurance firm EquiTrust to Johnson in 2015 may have served as undisclosed compensation for Johnson’s role in helping Walter’s group secure the Dodgers in 2012.

Additionally, Walter is reportedly the subject of an FBI investigation concerning potentially unreported affiliated investments made by some of his companies, which could lead to allegations of tax fraud. Walter’s company, TWG Global, has maintained that the Dodgers acquisition complied with all MLB regulations and noted that an independent investigation found no irregularities.