• Loading stock data...
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.

Kansas City Royals logo on chairs in ball park

Royals to Welcome Public Feedback on Proposed New Stadium

The team is embarking on a “Community Listening Tour” to get feedback
December 7, 2022

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.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Marlins’ Free Streaming Offer to Fans Highlights RSN’s Financial Issues

The MLB club offers local fans two months of free streaming of its live games.

Scheffler’s Season Earnings Could Surpass Top NFL, NBA, MLB Stars

The golfer has already won more than $27 million this season.
podcast thumbnail mobile
Front Office Sports Today

How the American Soccer Fan is Unlike Any Other Sports Fans

0:00

Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.
June 13, 2024

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
June 12, 2024

Saudi Arabia’s Next Big Sports Target: Boxing, With Joint Venture Worth $5B

The Public Investment Fund of Saudi Arabia is focusing on boxing as its next large-scale sports target.
June 11, 2024

Breakthrough? Tiger Says PGA Tour and LIV Golf Are Eyeing ‘End Game’

Woods called a recent meeting ‘productive.’
June 10, 2024

Salt Lake City’s $4B Olympics Price Tag Could Be a Bargain: Here’s Why

Utah is the preferred bidder for the 2034 Games.
June 7, 2024

New Era’s Acquisition of ’47 Set to Reshape Sports Apparel Market

New Era is set to acquire ’47 in a deal creating a combined operation with $2 billion in annual revenue.