Rams owner Stan Kroenke buys Los Angeles Angels, ending Arte Moreno's era

ANAHEIM, Calif. - A new era has begun for the Los Angeles Angels, ending Arte Moreno’s time with the franchise, it was announced Tuesday. 

What we know:

On Tuesday, the LA Times reported that Los Angeles Rams owner Stan Kroenke has purchased the team. 

In addition to the Rams, the CEO of Kroenke Sports & Entertainment owns several other professional sports franchises, including the Denver Nuggets, Colorado Avalanche, and Colorado Rapids.

The transaction follows years of scrutiny directed at Moreno from fans amid an 11-year playoff drought for the Angels. Moreno bought the Angels in May 2003, becoming the first Latino owner in Major League Baseball. 

Dig deeper:

The Angels won their first and only World Series championship in 2002 when they were owned by the Walt Disney Company.

SUGGESTED COVERAGE: Mark Walter sells Lakers for record-breaking $12B: report

What they're saying:

"The Angels are a storied franchise anchored in a great market," Kroenke said in a statement. "We look forward to an exciting future with the Angels organization."

Arte Moreno releases a statement

"The Angels Organization is pleased to announce this transaction with Kroenke Sports & Entertainment. 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. The Angels Organization looks forward to continuing its commitment to the fans, our employees, the players and our business partners," Arte Moreno said. 

What we don't know:

It remains unclear how much the team was sold for.

SportsBusinessInstaStoriesMLBCaliforniaNews