Angels owner Arte Moreno has started exploring option of selling the team

Arte Moreno has started exploring the option of selling the Angels and has taken on Galatioto Sports Partners as financial advisors, the team announced Tuesday morning.

“It has been a great honor and privilege to own the Angels for 20 seasons,” Moreno said in a statement. “As an Organization, we have worked to provide our fans an affordable and family-friendly ballpark experience while fielding competitive lineups which included some of the game’s all-time greatest players.

“Although this difficult decision was entirely our choice and deserved a great deal of thoughtful consideration, my family and I have ultimately come to the conclusion that now is the time. Throughout this process, we will continue to run the franchise in the best interest of our fans, employees, players, and business partners.”

Moreno has owned the Angels since 2003, when he bought the team for over $180 million from the Walt Disney Company. That was the year after the Angels won their first and only World Series championship.

The Angels have not made the playoffs since the 2014 season.

This is a developing story. Check back for updates.

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