Los Angeles Angels Sale: How Much Could MLB Team Sell For?

Shohei Ohtani - Los Angeles Angels — Shohei Ohtani #17 of the Los Angeles Angels looks on during his at bat during the third inning against the Seattle Mariners at Angel Stadium of Anaheim on July 18, 2021 in Anaheim, California. Katelyn Mulcahy/Getty Images

KEY POINTS

Arte Moreno acquired the Los Angeles Angels from Disney in 2003 for $183.5 million
Since the team's last postseason victory in 2009, Moreno reportedly poured more than $1 billion on free agents and contract extensions
The Angels aren't the only MLB team on the market since Mark Lerner and his family are looking to sell the Washington Nationals

American professional baseball team Los Angeles Angels earlier announced that owner Arte Moreno is exploring a sale of the team.

The team was acquired by Moreno from Walt Disney Co. in 2003 for $183.5 million, just months after the team won the 2002 World Series over the San Francisco Giants.

The team has won six division titles since Moreno bought it, but none since 2014, despite having superstars such as Mike Trout and Shohei Ohtani.

"It has been a great honor and privilege to own the Angels for 20 seasons," Moreno said. "As an organization, we have worked to provide our fans an affordable and family-friendly ballpark experience while fielding competitive lineups, which included some of the game's all-time greatest players."

"Although this difficult decision was entirely our choice and deserved a great deal of thoughtful consideration, my family and I have ultimately come to the conclusion that now is the time. Throughout this process, we will continue to run the franchise in the best interest of our fans, employees, players and business partners," he added.

Since the team's last postseason victory in 2009, Moreno reportedly poured more than $1 billion on free agents and contract extensions. Yet the Angels didn't return to the World Series under his tutelage.

He offered $125 million to Josh Hamilton, who was already struggling with drug and alcohol addictions, gave Albert Pujols $240 million to join the team, and more recently, offered Anthony Rendon a $245 million deal.

The team is estimated to sell for $2.5 billion – the highest price ever paid for a Major League Baseball (MLB) team, as per Sportico.

The current financial assessment of the outlet sees the team as the eighth most valuable franchise in the 30-team MLB.

If the team sells for that number, it would eclipse Steve Cohen's $2.4 billion purchase of the New York Mets back in November 2020 and will be considered the second most ever paid for a U.S. sports franchise.

Currently, the Angels aren't the only MLB team on the market since Mark Lerner and his family are reportedly looking to find a potential buyer for the Washington Nationals.

The Angels have reportedly retained Galatioto Sports Partners as financial advisors.