August 25, 2022: -Los Angeles Angels owner Arte Moreno is investigating a potential sale of the team and different strategic options, the team announced Tuesday.
“It has been a great honor and privilege to own the Angels for 20 seasons,” Moreno stated. “Although this difficult decision was entirely our choice and wanted a fantastic deal of thoughtful consideration, my family and I have ultimately concluded that now is the time,” Moreno added.
The Angels are respected at $2.2 billion, according to Forbes. The team is under 500 for the season despite the standout performance of pitcher and designated hitter Shohei Ohtani.
Moreno brought the Angels in 2003 for $180 million and made most of his funds with his company Outdoor Systems, which Infinity Broadcasting purchased in 1999 for $8.7 billion.
The Angels have been implicated in a political scandal in Anaheim, where Disneyland is also based.
The FBI added in a court filing that Harry Sidhu, Anaheim’s mayor who resigned after that, is believed to have shared confidential information with Angels representatives about the city’s planned sale of Angel Stadium in exchange for a donation to his reelection campaign, according to the Los Angeles Times.
According to the L.A. Times, the issue is part of an enormous scandal in Anaheim. The ex-head of the chamber of commerce was charged with lying to a mortgage lender. The FBI has described a small group of public officials, consultants, and business leaders who sought to influence Anaheim’s government.