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Monday, January 23, 2023

Moreno family announces it will retain Angels ownership

After months of exploring a possible sale, the Angels announced on Monday that the exploratory process to sell the team has ended, with the Moreno family maintaining ownership of the club.

“During this process, it became clear that we have unfinished business and feel we can make a positive impact on the future of the team and the fan experience,” Moreno said in a statement. “This offseason, we committed to a franchise-record player payroll and still want to accomplish our goal of bringing a World Series championship back to our fans. We are excited about this next chapter of Angels baseball.”

Owner Arte Moreno, 76, initially began a formal search to explore alternatives that included the potential sale of the team, in August. The Angels retained Galatioto Sports Partners to assist as financial advisors during the process by arranging meetings with interested buyers.

RoyalsRetro (AG#1F) Posted: January 23, 2023 at 08:12 PM | 24 comment(s) Login to Bookmark
  Tags: angels

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   1. Walt Davis Posted: January 23, 2023 at 08:40 PM (#6114096)
The not out loud bit:

"After viewing the relief of thousands of fans at the news we would be selling the team, we simply could not pass up this opportunity to rub salt in their wounds."

Feb 23, 2023 press release:

"We have made several serious offers to Mr Ohtani's representatives but unfortunately we are no closer to an agreement. We know that our fans value a sustainable winner over all else and, in recognition of their desires, we had no choice but to trade Mr Ohtani to the Giants for Mike Yastrzemski and the Giants' #3 prospect."
   2. JimMusComp misses old primer... Posted: January 23, 2023 at 08:44 PM (#6114099)
####. This.

Ugh.
   3. The Duke Posted: January 23, 2023 at 09:13 PM (#6114110)
Well, the Nats haven't sold either. I wonder if the prices aren't what people expected. These are two franchises that should be getting amazing offers.
   4. Textbook Editor Posted: January 23, 2023 at 10:29 PM (#6114120)
It's just much easier to get $200 million together than $2-3 billion to buy a team. And if you get 10 people/groups putting in $200 million each, you have all the problems of who's in charge, how do you divide up profits, etc.

I think in a weird way teams are far too valued, and if valuations for teams start with a $1 billion floor, it becomes hard to put together a group to purchase the team. I mean, both Manchester United and Liverpool are basically up for sale, and they're two of the most prized sports teams on the planet, and they're having trouble attracting non-petrol states to purchase them, because the asking prices are starting around $2 billion. (And Qatar or Saudi Arabia isn't exactly going to come in and buy a MLB team.)

What I worry about is that if owners start feeling like they have this incredible valuable asset that... they can't really sell, then a number of them (i.e., way more than already do this) are going to just say "screw it, I'll just turn a yearly profit instead" and that means a bloodbath for salaries, always playing pre-arb guys, collusion returns, etc.
   5. Hombre Brotani Posted: January 23, 2023 at 11:56 PM (#6114137)
Terrible news. Awful.

I have just one hobby, and it's killing me.
   6. The Gary DiSarcina Fan Club (JAHV) Posted: January 24, 2023 at 01:32 AM (#6114149)
This is the worst. I look forward to another couple decades of back office frugality and on-field mediocrity.

You suck, Arte.
   7. 57i66135 is a hard word for me. Posted: January 24, 2023 at 02:39 AM (#6114152)
Terrible news. Awful.

I have just one hobby, and it's killing me.
maybe there were only ever 9-11 primates who care about the NBA.



(eta: ugh, those numbers popping up is as unfortunate as it is unintended...)
   8. Infinite Yost (Voxter) Posted: January 24, 2023 at 08:55 AM (#6114159)
Well, this sucks.
   9. Tony S Posted: January 24, 2023 at 09:18 AM (#6114165)


Ruth Brown's R&B classic "Oh What A Dream" would apply to Angels fans today. I feel your pain, guys.
   10. Tony S Posted: January 24, 2023 at 09:27 AM (#6114167)
And Qatar or Saudi Arabia isn't exactly going to come in and buy a MLB team.


For this we can be eternally thankful.
   11. gehrig97 Posted: January 24, 2023 at 10:41 AM (#6114176)
Yay.
   12. TDF, trained monkey Posted: January 24, 2023 at 11:09 AM (#6114179)
Terrible news. Awful.

I have just one hobby, and it's killing me.
As the COO of my favorite team said, where you gonna go?
   13. Jay Seaver Posted: January 24, 2023 at 01:12 PM (#6114195)
Did this sort of thing routinely reference "The Moreno Family" versus "Arte Moreno" before? Obviously, Arte's getting up there, so I'm wondering if he's less involved, or if this was partially an estate-planning thing, especially if the Angels appreciated to the point where they're most of the estate now.

(Remember how George Steinbrenner just happened to die during the year when there was no Federal estate tax?)
   14. Karl from NY Posted: January 24, 2023 at 02:29 PM (#6114211)
I'm out of the loop, so I'll ask: What's wrong with Arte Moreno that you guys want him to sell? I thought he was pretty reasonably regarded for being decently fan-friendly as far as owners go. Is it just because he may not have deep enough pockets to pay for Ohtani or whoever else?
   15. Walt Davis Posted: January 24, 2023 at 02:34 PM (#6114212)
Remember how George Steinbrenner just happened to die during the year when there was no Federal estate tax?

Or is he living with Elvis at San Simeon?
   16. Walt Davis Posted: January 24, 2023 at 02:38 PM (#6114214)
#14: In an attempt to save Brohtani and others from vessel-bursting apopleptic fits, let this non-Angels fan try to answer the question.

The main issue is that although they Angels spend money, they do so poorly and also are extremely good at finding players on the decline or simply not very good to begin with to surround Trout and now Ohtani with. Moreno is rumored to be heavily involved in these decisions, interfering with his front offices and/or finding compliant GMs.

If Moreno would sell to somebody like Steve Cohen or hire a GM like Andrew Friedman (and stay out of his way), the Angels would win. Assuming the latter will never happen, the hope was the first would.
   17. Walt Davis Posted: January 24, 2023 at 02:50 PM (#6114216)
While maybe franchises are over-valued and/or covid has mucked it up, we are not far removed from the Mets and Broncos selling for heaps and heaps of moolah. I gather the Broncos sales price was unexpectedly high so maybe it's just that owners are asking for way too much. Or maybe the physical didn't go well. :-)

What I worry about is that if owners start feeling like they have this incredible valuable asset that... they can't really sell, then a number of them (i.e., way more than already do this) are going to just say "screw it, I'll just turn a yearly profit instead" and that means a bloodbath for salaries, always playing pre-arb guys, collusion returns, etc.

Or this could happen if franchises sell at "crazy" prices. Only so many individual billionaire baseball fans so if your consortium has to borrow heavily to buy the team, the banks and the ownership group will want their regular payments.

Of course that's a zero-sum game eventually. Ten competitive teams and 20 tankers (at least 2 of whom make the playoffs each year) isn't gonna do much for the Yanks revenue or league revenue and eventually it won't be a min of $230 M per team. Also at some point the Yanks, Dodgers, Mets, Cubs, Sox and other rich teams will get tired of subsidising the rest to an increasingly greater extent.
   18. The Gary DiSarcina Fan Club (JAHV) Posted: January 24, 2023 at 04:48 PM (#6114233)
I'm out of the loop, so I'll ask: What's wrong with Arte Moreno that you guys want him to sell? I thought he was pretty reasonably regarded for being decently fan-friendly as far as owners go. Is it just because he may not have deep enough pockets to pay for Ohtani or whoever else?


Walt did an ok job in 16 of summing it up. To the casual fan, or fans of other teams who only think of the Angels as Mike Trout's prison of mediocrity, Moreno looks like a decent enough owner. He spends on the major league roster, he's done some things to make the stadium experience good for the fans. But in the background, he's done plenty of things to completely undermine the more publicized moves. He keeps a very lean back office and doesn't take care of those employees well. This extends to the minor leagues where he's one of the few owners who hasn't funded the minor league affiliates better in the past few years. He meddles in personnel decisions, which has caused issues with GMs and resulted in albatross contracts. He has refused to give his GM the power or funding to build a player development department or analytics department that's worth a damn. He has gone cheap on the broadcast production. He continues to employ a President of the organization who is not a baseball guy and who makes decisions that are strange at best, but often rub fans the wrong the way.

It's the egotistical meddling that's the biggest issue in hindering the success of the major league team. Moreno is convinced he knows baseball well enough to be involved in all the decisions, and he's never hired an experienced GM because of it. That's not necessarily a bad thing, but it seems that he's hired people he can control (hence Dipoto leaving midseason on rather poor terms). I don't know that he'll ever invest heavily where his dollars will do the most good - the back office people who can take prospects and turn them into good MLB players.

Basically, Moreno runs this franchise under the same principles he ran his billboard business. Make the public product big and noticeable and flashy, but at the end of the day, it has no depth because there's no need to spend any money behind the scenes. No one ever looks at the back of a billboard.
   19. Never Give an Inge (Dave) Posted: January 24, 2023 at 06:07 PM (#6114252)

While maybe franchises are over-valued and/or covid has mucked it up, we are not far removed from the Mets and Broncos selling for heaps and heaps of moolah. I gather the Broncos sales price was unexpectedly high so maybe it's just that owners are asking for way too much.

The Phoenix Suns (and Mercury) are currently in the process of being sold for a record price for an NBA team, too.
   20. Starring Bradley Scotchman as RMc Posted: January 24, 2023 at 06:31 PM (#6114262)
As the COO of my favorite team said, where you gonna go?

Moreno's damn lucky that there are no other MLB teams in Los Angeles!
   21. Tony S Posted: January 24, 2023 at 08:02 PM (#6114294)
If you're a Chargers and Angels fan, you have not had a good ten days.

If you're also a Clippers fan... hope these things don't come in threes.
   22. base ball chick Posted: January 24, 2023 at 11:26 PM (#6114335)
 Karl from NY Posted: January 24, 2023 at 02:29 PM (#6114211)

I'm out of the loop, so I'll ask: What's wrong with Arte Moreno that you guys want him to sell?


- well, it's like this. you have a guy who is a Mexican citizen, who won't spend any money to broadcast games in spanish. in a heavily latino area. (just think if he had the sense to broadcast games in mexico) this is the kind of guy he is

he's one of those guys that thinks that because he owns the team he should be his own GM. and he hasn't learned from all his very bad decisions.

some rich people who own bidness X think that means they are so smart they could run ANY bidness just as well. and arte is one of those.

- the astros last owner, drayton mclane, was one of those (until the last few years when he done give up) - and his thing was refusal to spend any money on draft picks or minor leaguers. he really couldn't understand why the dominican/venezuelan pipelines/academies, let alone paying draft picks, was worth it since they weren't already major leaguers


sorry angels fans
   23. The Gary DiSarcina Fan Club (JAHV) Posted: January 25, 2023 at 02:47 AM (#6114345)
If you're a Chargers and Angels fan, you have not had a good ten days.


I am one of those. I'm also a Ducks fan (hockey) and they're abysmal this year. At this point, my rooting interest with the best chance of success is the ping pong balls for the draft lottery at the end of the NHL season.
   24. Hombre Brotani Posted: January 25, 2023 at 12:11 PM (#6114391)
Did this sort of thing routinely reference "The Moreno Family" versus "Arte Moreno" before?
Moreno often refers to "the Moreno family," as if this was a family decision and not just stuff he wants to do himself. FWIW, the Angel front office payroll is reputed to be lousy with Moreno family members drawing six-figure salaries even as scouting, development, analytics, and production all suffer budget squeezes. Fans don't generally see that on the field, but the team that ends up on the field suffers because if it.

Moreno made a big splash early with the Vlad Guerrero and Bartolo Colon signings, and it was great. He's been trying to do it again ever since, and it's been awful.

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