The Big Lead

MLB owner says franchise is losing $50 million or more, points blame at new source

By J.P. Hoornstra

Jul 2, 2019; Arlington, TX, USA; (From left) Los Angeles Angels manager Brad Ausmus and general manager Billy Eppler and owner Arte Moreno and president John Carpino during a press conference about the death of pitcher Tyler Skaggs before the game against the Texas Rangers at Globe Life Park in Arlington.
Jul 2, 2019; Arlington, TX, USA; (From left) Los Angeles Angels manager Brad Ausmus and general manager Billy Eppler and owner Arte Moreno and president John Carpino during a press conference about the death of pitcher Tyler Skaggs before the game against the Texas Rangers at Globe Life Park in Arlington. / Kevin Jairaj-Imagn Images
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It's difficult to find unanimous fan support around anything related to Angels owner Arte Moreno these days, but here's one: a "Sell the Team Arte" t-shirt with the Angels' signature halo around the letter "A."

The Angels are coming off a 99-loss season, the worst in franchise history. Spring training kicked off with news that $245 million third baseman Anthony Rendon is undergoing hip surgery and will be out for an extended period — the latest sad chapter in the story of perhaps the least team-friendly contract in sports history.

Moreno's team has not reached the postseason since 2014, the longest current drought in Major League Baseball. If the Angels break the streak in 2025, it will be a major upset.

Speaking to Jeff Fletcher of the Southern California News Group on Monday, as the Angels underwent their first full-squad workout of spring training, Moreno blamed the team's struggles on someone he's rarely castigated in public: himself.

“At the end of the day, it’s probably me,” Moreno said. “I can spend the money on (Mike) Trout, but I can’t go in and bat for him. I can spend money on a pitcher, but I can’t tell you how his health is going to be or whether he’s going to keep us in the game or are our guys going to hit?

“At the end of the day, is somebody going to come in here and spend $100 million more? Is it going to make a difference right now? They have to pick the right players and you’ve got to be healthy and they’ve got to play together.”

Moreno said the Angels are set to lose "$50 to $60 million, minimum" in 2025.

With rare exceptions, a team's balance sheet is kept private. In the Angels' case, the loss of revenue likely arose from its renegotiated deal with Diamond Sports Group last November after the parent company of FanDuel Sports Network emerged from bankruptcy. The team also saw star Shohei Ohtani sign a 10-year, $700 million contract with the Los Angeles Dodgers in Dec. 2023, bringing with him many Japanese-based sponsors.

According to Fletcher, Moreno also cited a decline in ticket sales as a source of the team's financial losses.

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