After nearly two decades as owner of the Los Angeles Angels, Arte Moreno is exploring a sale of the baseball team.
“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,” he said in a statement released Aug. 23. “Throughout this process, we will continue to run the franchise in the best interest of our fans, employees, players, and business partners.”Moreno and his wife Carole purchased the Anaheim-based team in 2003 from the Walt Disney Co. for $184 million. It is now worth about $2 billion, according to Forbes.
