Magic Johnson on the red carpet before the 75th NBA All Star Game at Intuit Dome.
Jayne Kamin-Oncea-Imagn Images
Stan Kroenke is set to add another team to his growing empire after agreeing to buy the Los Angeles Angels from Arte Moreno for a record-breaking $4 billion. Kroenke also owns the Los Angeles Rams, the Denver Nuggets, the Colorado Avalanche, and the Colorado Rapids.
This is the latest transfer of team ownership as multi-billionaires continue to trade assets like hobby cards. With his decision to purchase the Angels, baseball is now part of Kroenke's multi-sport portfolio.
Magic Johnson, who is a beloved figure in Los Angeles, congratulated the 79-year-old business tycoon on his latest deal. He also made a strong prediction for Kroenke's handling of the Angels.
“Stan has been a winner with his current teams. A Super Bowl championship with the Rams, a Stanley Cup championship with the Avalanche, and an NBA championship with the Nuggets. I'm sure he will do the same with the Angels,” wrote Johnson, who described Kroenke as a “good friend,” on X.
The Angels have not been to the postseason since 2014. They have made it to the postseason only twice in the last 16 years. In 2025, they finished with a 72-90 record.
Even with the lineup having Mike Trout and Shohei Ohtani—a pair of MVPs—in recent years, the Angels could not get over the hump.
But with Kroenke's net worth of $24.3 billion, the Angels could receive more resources to go after big-name studs or attract free agents.
Kroenke, who made his fortune through real estate, also owns Arsenal WFC and the Colorado Mammoth.
He entered sports ownership in 2000 with the Nuggets and the Avalanche.