The recently shuttered sale of the Los Angeles Angels could have set a new record for an MLB franchise, according to Forbes.
On Monday, team owner Arte Moreno decided to keep ownership of the Angels after announcing he was exploring a sale five months prior. At least three potential buyers were willing to pay more than the $2.4 billion Steven Cohen paid to buy the New York Mets in 2020.
Moreno purchased the Angels for $184 million in 2003 — a year following the team’s only World Series title. As of March 2022, the Angels were valued at $2.2 billion, per Forbes.
In 2019, a company controlled by Moreno agreed to buy Angel Stadium and the surrounding parking from the city of Anaheim for $320 million. In 2022, the deal was blocked following a corruption investigation regarding the sale. One of the prospective buyers of the Angels had hired a real estate development firm to evaluate Angel Stadium’s viability for renovations.
The team has a lease at the 45,000-seat stadium that runs through 2028.