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Tuesday, June 25, 2024

Angels Could Be Sold by Opening Day

  • The Los Angeles Angels are hoping to change hands by March.
  • The team was valued at $2.2 billion by Forbes earlier this year.
Los Angeles Angels owner Arte Moreno
Mark J. Rebilas-USA TODAY Sports

A Major League Baseball team could change hands before the next season starts.

MLB commissioner Rob Manfred floated the possibility that the Los Angeles Angels could be sold by March 30 — when the 2023 season begins — saying, “My understanding is that the club would like to have the sale resolved by Opening Day.”

  • Owner Arte Moreno said in August that the team would explore strategic options, including a sale, after a land deal with Anaheim collapsed under corruption charges.
  • Moreno had agreed to purchase the team’s stadium and surrounding land for $320 million.
  • The city could require Moreno or a future owner to cover around $300 million in repairs, per a previous agreement.

The Angels were valued at $2.2 billion by Forbes in March, ninth in MLB.

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Orioles, A’s in Flux

Manfred also provided commentary regarding other teams, stating that “as long as I have this job, I think you can count on the fact that the Orioles are going to be in Baltimore.”

He was far less certain about the Oakland A’s, alluding to a contractual trigger in the league’s collective bargaining agreement that denies them revenue sharing money without a new stadium deal by Jan. 15, 2024. 

Manfred reiterated that the league would waive its relocation fee — which could reach as much as $1 billion — if the team leaves Oakland.

Meanwhile, the Kansas City Royals will hold their first public meeting on Tuesday for a proposed $2 billion ballpark and surrounding entertainment district.

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