The Angels Have Several Interested Buyers Right Out Of The Gate, Including One From Japan

It was only a couple of weeks ago that Arte Moreno, the owner of the Los Angeles Angels, announced he had “initiated a formal process to evaluate strategic alternatives including a possible sale of the team.”

According to people familiar with the situation, there are already several people expressing interest in purchasing the Angels even though the team’s sale book, which typically provides essential financial information to buyers, likely won’t be approved by Major League Baseball for a couple of weeks.

One name being whispered: Gregory Milken, the Southern California-based cofounder of March Capital with a special affinity for investing in esports. Another of the interested buyers, according to sources, is Japanese.

MLB permits non-Americans to own controlling stakes, but it’s rare. Back in 1992, MLB approved the sale of the Seattle Mariners to Nintendo USA when the team was in financial trouble and local business leaders were trying to keep the Mariners from bolting to another city.

The Angels appear to have plenty of unfulfilled potential, both on the field and financially. Since their first season in 1961, the team has been a stepchild next to the Los Angeles Dodgers. The Dodgers moved to Los Angeles from Brooklyn in 1958 and were immediate winners, capturing World Series titles in 1959, 1963 and 1965. They most recently won the title in 2020.

In contrast, the Angels have been a mediocre team during most of their history and made the playoffs only three times (1979, 1982, 1986) before winning their only World Series in 2002. By our count, the Dodgers are worth $4.1 billion and the Angels $2.2 billion. Even with two of baseball’s greatest players—Shohei Ohtani and Mike Trout—the Angels have puny TV viewership compared with the Dodgers.

For potential buyers, however, the Angels have a couple of key things going for them. The team is expected to make a sizable profit this year and has very little debt. And unlike the Washington Nationals, who have been on the block for months, the Angels have no deferred player contract liabilities beyond this season.