LOS ANGELES (Reuters) – Los Angeles Angels owner Arte Moreno says he is no longer interested in selling the franchise he has owned for 20 years after announcing in August that he was looking for a buyer. .
“This process has made it clear that we have unfinished business and we feel we can positively impact the future of the team and the fan experience,” Moreno said in a statement.
“While we promised record player salaries for the franchise this offseason, we still want to reach our goal of bringing the World Series Championship back to the fans.
“I’m excited for the next chapter of Angels Baseball.”
Moreno purchased the Angels from The Walt Disney Company for $180 million in 2003, making him the first Mexican-American to own a major professional sports team in the United States as a billionaire businessman.
ESPN reports that the franchise is currently worth somewhere around $2.5 billion.
The Angels won their only World Series in 2002, just before Moreno bought it, and the team has struggled in recent years and is set to make its final postseason appearance in 2014.
The team currently boasts two of the best players in baseball. Shohei Ohtani, a pitching and hitting sensation, and Mike Trout, a 10-time All-Star and his 3-time AL MVP slugger.
The 76-year-old Moreno showed a keen interest in the club but had a change of heart as the discussions progressed and met with many talented individuals and groups who plan to manage the team for the foreseeable future. .
“Our hearts are with the Angels and we have realized that we are not ready to say goodbye to our fans, players and employees.
Major League Baseball commissioner Rob Manfred said he supports Moreno’s decision.
“Despite buyers’ strong interest in the Angels, Arte Moreno’s love of the game is paramount to him,” Manfred said.
“We are very pleased that the Moreno family has decided to continue owning the team.”
Reporting by Rory Carroll of Los Angeles.Edited by Himani Sarkar
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