Photo of the Big A at Angel Stadium of Anaheim. Home of the Los Angeles Angels.

Image Credit: Haymarketrebel/Flickr (CC BY 2.0)

SRB Management LLC, led by Los Angeles Angels owner Arte Moreno, have agreed to purchase Angel Stadium of Anaheim from the city of Anaheim, as well as 153 acres adjacent to the stadium. The deal is valued at $325 million and will likely keep the Los Angeles Angels in Anaheim through the 2050 MLB season. 

The deal will require the city of Anaheim to forfeit their share of revenue for ticket sales and parking at Angel Stadium of Anaheim. However, the city will save roughly $17 million annually on required payments that would have went toward improving the stadium through 2028. 

Photo of Los Angeles Angels of Anaheim owner Arte Moreno.

Arte Moreno

Image Credit: Jemill - Wikimedia Commons

Arte Moreno and SRB Management LLC will now be responsible for all renovations to Angel Stadium of Anaheim. Like Jeffrey Loria (former owner of the Miami Marlins), Arte Moreno has seen a huge return on his investment when he purchased the Los Angeles Angels back in 2003 for only $184 million. The team is now valued at $1.9 billion according to Forbes.

The Los Angeles Angels organization also are making plans to construct a mixed-use development outside of Angel Stadium of Anaheim that would be complete with bars, restaurants, hotels, retail shops, and residential living. Teams such as the Atlanta Braves, St. Louis Cardinals, and Cincinnati Reds have constructed popular mixed-use developments outside of their stadiums. Construction costs for the proposed mixed-use development are estimated at $3.4 billion. Angel Stadium of Anaheim sits on prime real estate with its close proximity to both Disneyland and the Honda Center; home of the Anaheim Ducks.

The Los Angeles Angels have played their home games at Angel Stadium of Anaheim since 1966. However, opted out of their current lease in 2018. The team was exploring the idea of either building a new ballpark or progressively renovating Angel Stadium of Anaheim. The Los Angeles Angels even explored the possibility of building a new home stadium in nearby Long Beach, California.



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