Malibu billionaire Stan Kroenke to buy Angels for $4 billion
The Rams owner and Malibu Colony shopping center owner has agreed to buy a controlling interest in the Los Angeles Angels of Anaheim.
By Hans Laetz
A billionaire who lives part of the year in Malibu has just purchased the struggling Los Angeles Angels baseball team of Anaheim.
Stan Kroenke — the guy who owns the Malibu Colony shopping center, the guy who owns the L.A. Rams football team, and a whole lot more.
Los Angeles Rams owner Stan Kroenke has agreed to buy a controlling interest in the Los Angeles Angels of Anaheim from their longtime owner, Arte Moreno. The sales price is $4 billion and it is subject to the approval of the other major-league baseball franchise owners.
Fans in Anaheim are ecstatic.
Kroenke keeps a very low profile in Malibu. He's owned the Colony shopping center — home to Ralphs and CVS — for decades. Last year, he bought the Malibu Village shopping center on Cross Creek, the stores closest to Malibu Creek.
He adds the L.A. Angels to his portfolio of sports teams, including NBA basketball, soccer and hockey teams in Denver and the Arsenal Football Club in Britain.
But the future of the Angels in Anaheim is very much a question. He built SoFi stadium for his Rams team in Inglewood. He's building a massive sports and shopping complex in Woodland Hills, in the Valley. And Stan Kroenke owns all the buildings that his teams play in.
The City of Anaheim owns the Angels stadium, and there have been a series of collapsed real estate deals with the investor who used to own the Angels. How Stan Kroenke deals with Anaheim has yet to be seen.
Comments (0)· Be the first to comment.