Stan Kroenke agrees to buy MLB's Angels, valuing team and regional network at $4 billion

Stan Kroenke has added an MLB team to his growing sports empire, agreeing to purchase a controlling stake in the Los Angeles Angels from the Moreno family, according to a release.

The transaction values the Los Angeles Angels and their regional sports network at $4 billion, according to a person with direct knowledge of the deal, who was not authorized to speak on the matter.

"The Angels are a storied franchise anchored in a great market. We look forward to an exciting future with the Angels organization," Kroenke, owner and chairman of Kroenke Sports and Entertainment, said in the release.

Kroenke Sports and Entertainment was valued at more than $26 billion in CNBC's most recent list of the world's most valuable sports empires, published in June.

The addition of a baseball team gives KSE ownership in every major professional sport and a deeper presence in one of the top sports and entertainment markets in the world.

KSE also owns SoFi Stadium and the 300-acre Hollywood Park district in Inglewood, California. Kroenke spent more than $5 billion on the stadium, which is home to both the Rams and the Los Angeles Chargers.

"The Moreno Family has been honored to steward the Angels for 23 years and we believe with KSE's experience and success they are the best next owner for the franchise," Arte Moreno said in a statement.

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