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Tuesday, August 23, 2022

Los Angeles Angels owner Arte Moreno exploring possible sale of team

Los Angeles Angels owner Arte Moreno said Tuesday he is exploring a possible sale of the team.

“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, the first Mexican-American to become majority owner of a major league team, purchased the Angels from The Walt Disney Co. in 2003 for approximately $184 million. The team in March was estimated to be worth $2.2 billion by Forbes magazine.

RoyalsRetro (AG#1F) Posted: August 23, 2022 at 01:47 PM | 21 comment(s) Login to Bookmark
  Tags: angels, arte moreno

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   1. Captain Joe Bivens, Pointless and Wonderful Posted: August 23, 2022 at 01:54 PM (#6092836)
“It has been a great honor and privilege to own the Angels for 20 seasons, and now to sell it for a 900% profit."
   2. ReggieThomasLives Posted: August 23, 2022 at 01:59 PM (#6092838)
S&P 500 was about 1100 at beginning of 2002. With dividends a twenty year holder is up only around 450%, so good move Arte.
   3. The Duke Posted: August 23, 2022 at 02:09 PM (#6092840)
That might hold Ohtani in.

What a great franchise it could be.
   4. RoyalsRetro (AG#1F) Posted: August 23, 2022 at 02:16 PM (#6092842)
The ballpark situation is still in flux, isn't it? Surprised he's not waiting til that gets finished to get an even bigger bump in valuation.
   5. dejarouehg Posted: August 23, 2022 at 02:22 PM (#6092843)
That might hold Ohtani in.
Not sure why?

What a great franchise it could be.


In the short term, only if they get a Steve Cohen wannabe who will hold his nose on Rendon, spend stupidly on pitching (DeGrom $55M/yr to go along with Ohtani who I think has a good shot to be the first $50M/yr player, Rodon $30M/yr) in the hopes they get lucky, be willing to go over the cap and eat contracts........

Maybe Mark Cuban can liquidate his bitcoin wannabe product and pick up this gem instead.

Bye, bye Artie. Albert and Josh send their best wishes.

   6. Howie Menckel Posted: August 23, 2022 at 02:24 PM (#6092845)
Warning: A lot of RedskCommanders fans heard this a couple of years ago about Daniel Snyder, yet.....

fortunately, though, fine wine ages well if properly stored.
   7. The Gary DiSarcina Fan Club (JAHV) Posted: August 23, 2022 at 02:30 PM (#6092848)
I can't really celebrate until a sale actually happens, and these things take time. However, if I'm reflecting on Moreno's ownership, it is a decidedly mixed bag:

1. He really was committed to giving fans a good experience. He didn't do anything out of the box, but he did try to keep prices affordable, both tickets and concessions. He did his best to get fans to come see the product, and attendance was relatively high during his tenure.

2. In addition to forgoing some revenue, he was willing to spend money on players. I certainly can't complain that my team's owner lacked the willingness to spend money on the roster.

3. The problem was that Moreno thought he should be involved in those decisions, which had all sorts of ramifications. It meant he hired yes-men as GMs instead of guys who could implement their own ideas and vision. It meant he got involved in trades (Vernon Wells!!!) and free agent decisions (Albert Pujols and Adrian Beltre, for opposite reasons) when he should have let his baseball operations staff run the show.

4. In order to cut costs in other ways, he ran incredibly lean back office departments, letting go of a lot of non-player personnel and failing to build (or let his GMs build) strong scouting, analytics, or player development programs. It's why the team went downhill in a hurry once the homegrown players from the prior regime began to decline or leave the organization.

5. This one's personal, but I've never completely forgiven him for changing the name to Los Angeles. As a lifelong Anaheim resident, that one stung. I couldn't tell you if it was good or bad for business (I assume it was a net positive although I'm skeptical as to how much of a positive it was), but it was a slap in the face to the local fanbase.
   8. Shredder Posted: August 23, 2022 at 02:47 PM (#6092849)
In the short term, only if they get a Steve Cohen wannabe who will hold his nose on Rendon, spend stupidly on pitching (DeGrom $55M/yr to go along with Ohtani who I think has a good shot to be the first $50M/yr player, Rodon $30M/yr) in the hopes they get lucky, be willing to go over the cap and eat contracts........
Believe it or not, pitching isn't really the problem (at least not starting pitching), and may actually get better next year even without any acquisitions. They're middle of the pack overall, and pretty close to the top 1/3 for starting pitching. They've been better since the break. Ohtani and Sandoval seem to be the real deal, and Detmers has been really good since making adjustments in a minor league stint.

Their offense is absolutely terrible, though. They're 26th in runs, and have been trending even worse. Ideally you'd have a healthy Trout, Rendon, Ward, and Fletcher next season. A little bounce back from Walsh, get something from the catcher's spot, upgrade at short and they'd be really good. Realistically, Trout could be anywhere from good to completely done. I'm beginning to think Rendon will end his career with fewer homers as an Angel than Mo Vaughn. Walsh has had two great half seasons, and that's about it. Even good Fletcher isn't that productive unless he's setting up other good hitters. Their development team has probably ruined Joe Adell, and probably ruined Marsh before trading him. They treat their minor leaguers like crap while also not teaching them how to play baseball very well.

There's a bit of a "devil you know" thing at play here. I don't hare Arte. He wasn't just sitting back collecting a rev share check. He tried to actually win. He just wasn't any good at it.
   9. dejarouehg Posted: August 23, 2022 at 03:07 PM (#6092852)
They've never had a truly playoff-level competitive pitching staff during his reign.

Yes, their offense, especially once you get past the first 4 or 5 batters is pathetic, but that is usually easier to address than pitching.
I actually loved their idea of spending their entire draft a couple of years ago (?) on all pitchers.

As noted above, his need to insert himself in the process, while understandable on many levels, sunk his battleship.
   10. A triple short of the cycle Posted: August 23, 2022 at 03:32 PM (#6092854)
The two most fascinating things to me about MLB (outside of the game on the field) are (1) how much uncertainty there is in the draft and prospect development - I love looking back at the drafts on BBRref and (2) how teams with wildly varying payrolls are competing against each other and how some teams with low payrolls (e.g. Rays) can manage to consistently outperform teams with high payrolls (e.g. Angels).
   11. The Gary DiSarcina Fan Club (JAHV) Posted: August 23, 2022 at 03:46 PM (#6092857)
The two most fascinating things to me about MLB (outside of the game on the field) are (1) how much uncertainty there is in the draft and prospect development - I love looking back at the drafts on BBRref


It's the development part of that process that really fascinates me. In other sports, it seems that success with homegrown players is attributed almost entirely to amateur scouting, i.e. the draft. In baseball, maybe partly because draft picks can't be traded and partly because players spend so much more time in the organization's minor leagues, development seems at least as important as identifying talent in the draft.

Is the Dodgers' farm system so good because their amateur scouts are amazing or because their player development program is so good? This illustrates the conundrum: how do we put a value on an organization's player development abilities? We know the Dodgers are good at it and the Angels are bad, but how can we measure the difference? Will a new owner be able to turn this around for the Angels? And how quickly will that have an impact at the major league level?

It leaves a ton of questions, but I'm still happier today as an Angel fan than I've been in a long time. I had no hope that the team would be any good as long as Moreno continued to own the team.
   12. asinwreck Posted: August 23, 2022 at 03:49 PM (#6092858)
Meanwhile Jerry Reinsdorf has owned the White Sox twice as long, appears to be immortal, and shows no sign of selling.
   13. Hombre Brotani Posted: August 23, 2022 at 05:55 PM (#6092888)
Is the Dodgers' farm system so good because their amateur scouts are amazing or because their player development program is so good? This illustrates the conundrum: how do we put a value on an organization's player development abilities? We know the Dodgers are good at it and the Angels are bad, but how can we measure the difference? Will a new owner be able to turn this around for the Angels? And how quickly will that have an impact at the major league level?
This is where Moreno's interventions came into play. He was always more interested in buying to win today than building to win tomorrow. Scouting and development seems like the one place where more is just better, and there's no getting around that. Moreno threw unholy gobs of money at Wells and Finley and Gary Matthews and Josh Hamilton and Albert Pujols and Justin Upton, but he never gave any of that focus to the farm system.

My hope is that he sells the team quickly, this off-season, and the new ownership will see Shohei Ohtani as the unparalleled asset that he is and extend him to infinity, then actually start investing in the team the way responsible ownership ought to.
   14. Hombre Brotani Posted: August 23, 2022 at 06:23 PM (#6092894)
I wonder how he feels to have made this announcement and have the fanbase celebrate the idea that they'll finally be rid of him.
   15. Captain Joe Bivens, Pointless and Wonderful Posted: August 23, 2022 at 06:57 PM (#6092903)
The pending arrival of cash blunts any butthurt he might feel.


edit...he bought this team to sell it. It was a very astute purchase.

Are there any owners who buy MLB teams for life these days? I'm too lazy to check, but it seems like there are no Tom Yawkeys out there.* The Steinbrenners?

*Tom Yawkey was a terrible owner.
   16. The Gary DiSarcina Fan Club (JAHV) Posted: August 23, 2022 at 08:27 PM (#6092919)
The Ilitch family has owned the Tigers for 30 years and weren't looking to sell. Mike definitely wanted to win a championship in Detroit before he passed.
   17. SoSH U at work Posted: August 23, 2022 at 08:31 PM (#6092920)
Are there any owners who buy MLB teams for life these days?


Well, it's possible asinwreck is right that Jerry Reinsdorf is a vampire, but otherwise he would qualify.
   18. the Hugh Jorgan returns Posted: August 23, 2022 at 08:43 PM (#6092921)
Upon hearing this news, Mike Trout give himself a little jeteresque fist pump in the hope this happens soon and the new owner hires someone from the Rays organisation who can surround him with 2-3 WAR players from the bargain bin.
   19. The Duke Posted: August 23, 2022 at 10:12 PM (#6092938)
I wonder how much the implosion of the sweetheart Anaheim - Moreno deal drove this

How long does it take to sell a team? Everyone says the Nats are for sale and you'd think that would be a marquee name but nothing ever happens
   20. Tom Goes to the Ballpark Posted: August 24, 2022 at 10:54 AM (#6092989)
I think the Mets sale took about 9 months. The Angels sale could be more complicated because of the various open legal issues.
   21. Walt Davis Posted: August 24, 2022 at 06:09 PM (#6093083)
I think the Mets sale took about 9 months.

Sorta. In Dec 2019, the Mets announced they were nearing a $2.6 B agreement with Cohen for 80% of the team. Things fall apart before coming back together. It was approved by MLB on Oct 30. But note there's a lot hidden in there -- obviously negotiations were far along by Dec 2019 so presumably they started a long time before that. Secondly Cohen's purchase is pretty rare these days in that his stake is 95% -- i.e. it's not an ownership group -- that's got to be an easier negotiation. I think the sale only covers the team, there were no complications of stadium ownership or RSN ownership to work out; the stadium's even fairly new and I assume under long-term lease so nothing to negotiate there. I don't recall Cohen demanding anything from local government which simplifies things.

That's probably about the simplest deal possible these days and, assuming at least a few months of negotiation prior to Dec 2019, it still took over a year. Here the Angels have only just announced they are for sale (I'm not sure that the Mets ever announced). Maybe that announcement is in response to one or more offers they've already had but, if not, then the first step is the time it takes to put together an ownership group to put in an offer. Moreno is obviously hoping there will be rival ownership groups which will make the negotiations move more slowly. I'm not sure what the Angels' RSN situation is but I know there's been squabbling over the stadium and surrounding real estate which I assume will further complicate the sale.

The Cubs were put up for sale in April 2007; the sale completed in Oct 2009; that sale included Wrigley and a share of the RSN. According to a Deadspin "expose" the Ricketts started their attempt to buy the Cubs in July 2008. The Deadspin article is pretty interesting.

Where the Angels sale sits on the Mets-Cubs spectrum I have no idea but I'd think the best-case scenario is probably that new ownership takes over at the end of the 2023 season and that's if there's a solid ownership groups ready to go.

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