The Los Angeles Angels are being sold. Embattled and often maligned owner Arte Moreno, who presided over the franchise's decade-plus doldrums, has agreed to sell the club to Stan Kroenke. Kroenke's company, Kroenke Sports & Entertainment, announced the sale on Tuesday.
Kroenke, 79, also owns the Los Angeles Rams of the NFL, the Denver Nuggets of the NBA, the Colorado Avalanche of the NHL, the Colorado Rapids of MLS and Arsenal of the Premier League through his holding company.
"The Angels are a storied franchise anchored in a great market," Kroenke said in a statement. "We look forward to an exciting future with the Angels organization."
Moreno had owned the team since 2003, when he purchased the Angels from the Walt Disney Company. The transaction made Moreno the first Mexican-American owner of a major franchise in U.S. sports history.
CBS Sports will have more to come on this story.
