Los Angeles Angels owner Arte Moreno is making plans to sell the Anaheim-based team.
The two-decade-long owner has hired a financial advisor to explore the possibility.
"It has been a great honor and privilege to own the Angels for 20 seasons,'' Moreno said in a statement. "As an organization, we have worked to provide our fans an affordable and family-friendly ballpark experience while fielding competitive lineups which included some of the game's all-time greatest players."
Ultimately, Moreno, the first Mexican American majority owner in Major League Baseball, and his family decided now is the time to sell.
-
Board of Supervisors want ethics commission
-
Confusion over which courses qualify as credits
-
Likely advancing Biden's proposed agenda
Moreno purchased the Angels from The Walt Disney Co. for around $184 million in 2003, fresh off a World Series Win.
The Halos won five division titles from 2004 to 2009, but they haven't made the playoffs since 2014, despite having Mike Trout — an elite-level talent — and pitching and slugging sensation Shohei Ohtani on their squad.
They're currently in their seventh straight losing season and have faced many off-the-field scandals, including the 2019 overdose death of starting pitcher Tyler Skaggs and the subsequent conviction of the team's former communications director for providing the 27-year-old lefthander with narcotics.
And an FBI investigation recently alleged that former Anaheim Mayor Harry Sidhu was passing the team confidential information in exchange for a million-dollar campaign contribution in an attempt for Moreno to buy the land surrounding the stadium.
Ohtani is rumored to be on the trading block after this season, but his future has become more unclear. Still, he stands to be a free agent at the end of the 2023 season.
The Angels could sell for more than $2.5 billion, according to Forbes.