Stan Kroenke Reportedly Plans to Build New $2.5B Angels Stadium After Buying MLB Team

Stan Kroenke reportedly isn't going to wait long to make significant changes surrounding the Los Angeles Angels after purchasing the team.

Barry M. Bloom of Forbes reported Arte Moreno tentatively sold the American League West team to Kroenke on Tuesday at a valuation of $4.5 billion. The expectation is the sale will be finalized early in 2027 after being approved by MLB.

Bloom also reported Kroenke plans on building a new $2.5 billion stadium to replace Angel Stadium.

Angel Stadium opened in 1966 and has been refurbished multiple times.

Building a new stadium will be nothing new for Kroenke, who oversaw the construction of SoFi Stadium and the complex surrounding it for $5.5 billion as the owner of the NFL's Los Angeles Rams.

Kroenke is also familiar with success as a franchise owner, as the Rams, NHL's Colorado Avalanche, NBA's Denver Nuggets and MLS' Colorado Rapids have all won league titles during his tenure. What's more, Arsenal won the most recent Premier League title.

"Look at his track record," Angels star Mike Trout said. "It's all there. So, I'm super excited to meet him, get to know him a little bit, and see where it goes."

Angels fans are certainly hoping the ownership change leads to more success on the field.

Los Angeles has made the playoffs just once since 2009 and saw that postseason appearance come to a swift end with a sweep in the 2014 American League Division Series.

Trout is an all-time great, but the team struggled to find success even when he was teammates with Shohei Ohtani.

Bloom noted Kroenke is worth $24.3 billion, which will make him the richest owner in MLB with the New York Mets' Steve Cohen at $23 billion. Quickly putting billions into a new stadium would suggest the new Angels owner will be willing to spend to find some of that success that has been missing for so long.