The Angels announced Monday that owner Arte Moreno is ending the exploratory process to sell the team and will remain the team owner for the 2023 season and beyond.
The decision comes after the team announced in August it would explore a sale of the team.
“During the 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 out goal of bringing a World Series championship back to our fans. We are excited about this next chapter of Angels Baseball.
“We are grateful to Galatioto Sports Partners for their outstanding efforts throughout the process that allowed us to meet with a number of highly qualified individuals and groups who expressed strong interest in the club. However, as discussions advanced and began to crystallize, we realized our hearts remain with the Angels, and we are not ready to part ways with the fans, players, and out employees.”
Moreno bought the Angels for $183.5 million in 2003. In March, Forbes valued the team at $2.2 billion.
There were believed to be at least six parties considering a bid, including Golden State Warriors owner Joe Lacob, Times owner Patrick Soon-Shiong, and an unidentified Japanese partnership.
The is a developing story. The Times will have more soon.