General manager Billy Eppler and owner Artie Morena look on as Joe Madden addresses the media during a news conference where he was introduced today as the new manager of the Los Angeles Angels during a news conference at Angel Stadium in Anaheim on October 24, 2019 in Anaheim, California.
Jayne Kamin-oncea | Getty Images
Los Angeles Angels owner Arte Moreno is exploring a possible sale of the team and other strategic options, the team announced Tuesday.
“It has been a great honor and privilege to own the Angels for 20 seasons,” Moreno said in a statement. “While this difficult decision was entirely our choice and deserved a lot of consideration, my family and I have finally come to the conclusion that now is the time.”
The Angels are valued at $2.2 billion, according to Forbes. The team is below .500 for the season despite a breakout performance from pitcher and designated hitter Shohei Ohtani.
Moreno, who bought the Angels in 2003 for $180 million, made most of his money from his company Outdoor Systems, which was bought by Infinity Broadcasting in 1999 for $8.7 billion.
The Angels have been involved in a political scandal in the city of Anaheim, where Disneyland is also based. The FBI said in a court filing that Harry Sidhu, the mayor of Anaheim who has since resigned, 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 re-election campaign, according to the Los Angeles Times.
The issue is part of a larger scandal in Anaheim, according to the LA Times. The former head of the city’s chamber of commerce was accused of lying to a mortgage lender, and the FBI has described a small group of public officials, consultants and business leaders who sought to influence Anaheim government.