Patrick Soon-Shiong, owner of the LA Times, considers the Angels’ offer; Net worth of $6.9 billion | News, Scores, Highlights, Stats & Rumors
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Patrick Soon-Shiong, the owner of the Los Angeles Timesis considering making an offer to buy the Los Angeles Angels, according to Bill Shaikin of the Los Angeles Times.
Soon-Shiong’s net worth is $6.9 billion, according to Forbes. The Halos are expected to sell for around $2.5 billion.
Soon-Shiong’s interest in buying the Angels is as unsurprising as he also tried to buy the Los Angeles Dodgers in 2012.
Angels owner Arte Moreno revealed last month that he was considering selling the team after 20 years of ownership.
Moreno said in a statement at the time, according to ESPN’s Alden Gonzalez:
“Although this difficult decision was entirely our choice and deserved a lot of thought, my family and I have finally come to the conclusion that the time is right. Throughout this process, we will continue to manage the franchise in the best interest of our fans, employees, players and business partners.”
The sale of the franchise is not expected to gain momentum before the offseason. Golden State Warriors owner Joe Lacob, Japanese investors and investors from Hollywood and Orange County are reportedly among other groups considering placing a bid.
The potential sale of the franchise comes amid another disappointing season for the Angels despite the club boasting a roster that includes hitters Mike Trout and Shohei Ohtani, who is also a star on the mound.
LA has been hit hard with injuries to Anthony Rendon, Jared Walsh and others this year, but that’s no excuse for another offseason. The Halos sit third in the AL West with a 60-78 record and are on course to miss the playoffs for the eighth consecutive season.
The club’s difficulties led him to fire manager Joe Maddon, who arrived in June, and replace him with Phil Nevin in the meantime.
So, in addition to looking for a new owner this winter, the club will also be looking for a new manager in hopes of steering the team in the right direction.
The Washington Nationals are currently the only other major league club slated to hit the market this winter.