Incoming Los Angeles Angels owner Stan Kroenke plans to construct a $2.5-billion ballpark to replace Angel Stadium, according to Barry M. Bloom of Forbes.
Kroenke agreed to buy the Angels from longtime owner Arte Moreno on Tuesday for a reported MLB-record price of $4 billion. The deal is expected to be finalized in the early stages of 2027.
The American billionaire's company built and owns SoFi Stadium - the home of the NFL's Los Angeles Rams - and the complex around it, which will be the site of the 2028 Summer Olympics.
Angel Stadium, which opened in 1966, is the fourth-oldest venue in baseball behind Fenway Park (1912), Wrigley Field (1914), and Dodger Stadium (1962).
Kroenke, 79, also owns the NBA's Denver Nuggets, the NHL's Colorado Avalanche, the Colorado Rapids of MLS, and Premier League club Arsenal.
Moreno owned the Angels for over 23 years. The club is poised to extend its playoff drought to 12 years, which is the longest active streak in the majors.
