Angels announce owner Arte Moreno is exploring sale of franchise

The Los Angeles Angels announced Tuesday that the team has begun looking at "strategic alternatives," including a possible sale of the team after two decades under owner Arte Moreno.

"It has been a great honor and privilege to own the Angels for 20 seasons," Moreno said in a statement. "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."

Moreno, 76, purchased the Angels in 2003 from The Walt Disney Company for $180 million, less than a year after the team won the 2002 World Series. While the Angels reached the postseason five times in his first seven seasons as owner, they failed to return to the World Series. The team last made the playoffs in 2014 but were swept by in an AL Division Series against the Kansas City Royals.

During Moreno's time as owner, the team changed its name from the Anaheim Angels to the Los Angeles Angels of Anaheim in 2005 before dropping Anaheim from its title altogether in 2016.

Despite having three-time AL MVP Mike Trout and reigning AL MVP Shohei Ohtani on the roster, the Angels are currently 52-70 and likely to finish below .500 for the seventh consecutive season.