Los Angeles Angels owner Arte Moreno wants to sell the team

Los Angeles Angels owner Arte Moreno He wants to sell the underperforming Major League Baseball franchise he bought from the Walt Disney Company in 2003.

Why is it important? This means there are two MLB clubs at once, the Angels joining the Washington Nationals. That can reduce the price premium, as pro sports teams are overvalued by scarcity, although this can be offset by geographic distance (ie, West Coast billionaires like Joe Lacob and East Coast billionaires like Ted Leonsis only want their backyards. ).

Mark Card: Moreno does not own the Angels’ home stadium, one of the league’s oldest, or the surrounding real estate from the city of Anaheim.

Price talk: Moreno paid just $184 million to buy the franchise, which Forbes estimates is now worth $2.2 billion (9th in MLB).

more, by the LA Times: “A new owner inherits a lot of issues. The team hasn’t won a regular season game since 2009 — two of the game’s biggest stars — Mike Trout and Shohei Ohtani — have never won a playoff game. Ohtani has repeatedly expressed disappointment. And a new owner will stay in Anaheim after next season instead of leaving in free agency. He had to convey a wonderful vision to convince him to stay.

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