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After announcing in August that he’d initiated a formal process to evaluate strategic alternatives for the Los Angeles Angels, including a possible sale of the team, billionaire owner Arte Moreno said Monday that he’s ending the exploratory process and plans on keeping the MLB team beyond the 2023 season.
Moreno could have made a tidy bundle on a sale. Multiple sources told Forbes that there were at least three people offering to pay more than the record $2.42 billion Steve Cohen spent for the New York Mets in 2020, with some speculating the final price could have reached $3 billion. In our annual MLB valuations last March, Forbes calculated that the Angels were worth $2.2 billion. Moreno paid $183.5 million for the team in 2003.
The interested parties, one of whom was from Japan, all had bank accounts big enough to
Keep reading this article on Forbes Business.
