Los Angeles Angels owner Arte Moreno announced Tuesday that he is exploring the possibility of selling the franchise.
Moreno acquired the Angels in 2003, a year following they won the World Series. He has always spent lavishly on veteran free agents like Albert Pujols and Josh Hamilton, but the club has never been able to get back to the Fall Classic since he became owner.
The Angels are on track to miss the postseason for the eighth straight year despite a roster that includes Mike Trout and Shohei Ohtani, players with MVP awards under their belts.
“It has been a great honor and privilege to own the Angels for 20 seasons,” Moreno said in a statement. “Although this difficult decision has been entirely ours and deserved deep reflection, my family and I have come to the conclusion that the time has come.”
Moreno’s announcement comes at a crucial time for the franchise.
Ohtani will be a free agent following the 2024 season. Ohtani, a player who shines as a pitcher and hitter, left Japan and signed with the Angels in 2018. He has said he wants to be part of a team with a chance to contend for a championship.
If the franchise fails to retain Ohtani on a long-term deal, it might trade him before he can leave as a free agent.
Trout, a three-time MVP, is tied up through 2030 with a 12-year, $426.5 million contract. He has only appeared in three postseason games with the Angels, all in 2014, despite being considered the best player in the major leagues for most of the last decade.
The team hired Galatioto Sports Partners as financial advisor for the process and that it will not issue another statement.
Born in Arizona of Mexican origin, Moreno is the only minority owner in the Major Leagues.
The Angels are the second team in MLB currently for sale. The Washington Nationals are the others.
