Moreno Family Exploring Sale of the Los Angeles Angels

[WicketMaiden]

33 minutes ago, ten ocho recon scout said:

That was probably true when the news was announced. But once the game today got going, and Gosselin was pitching, Moreno probably put out his cigarette, and is ready to toss the keys to his neighbor. Like "You want it? It's yours"

The potential purchaser would take the time for a proper due diligence, not Arte. It's to protect the buyer from future liabilities and assess a true value of the franchise's assets.

[Ron Mexico]

Taken from another board can anyone confirm this ??

I heard today, Arte cannot sell the team until the Washington Nationals sale is complete. MLB owners don't want multiple teams for sale at once. Arte has to wait until deal is complete before his team is for sale. Washington is currently up for sale.

[angelsnationtalk]

5 hours ago, Docwaukee said:

I really hope this happens fast.  

Potential timeline?  Anyone?  

I'm guessing a deal with someone will be finalized by October.  

Hopefully in time for direction for the 2022/23 off season.  

I think this being finalized by October is a huge pipe dream, though I hope it's ASAP as well. 

Something tells me the front office will take yet another gap year so new ownership can asses what they need.

Great.....

[T.G.]

18 hours ago, Taylor said:

She could make more money with the Angels and give that away.

Dude, she's already given away much more than the Angels are even worth - $12 billion. AND her worth continues to go up.  Like I said earlier - she's in the business of philanthropy now.

[gotbeer]

3 hours ago, WicketMaiden said:

I would be amazed if the sale was finalised by October.

The due diligence process alone should take months for a purchase of this size, and that can only begin once Arte is satisfied that the interested party's letter of intent is satisfactory and that they have the funds in place to complete a deal once the DD is complete. The length of the DD process will depend on Arte's willingness to be open, on the transparency of the Angels operating practices, and the buyer's desired degree of scrutiny. All contracts signed by the Angels will need to be scrutinised line by line, in the US and in all other legal jurisdictions the Angels have operations, assets, or financial commitments in, then a value and assessment of risk of those contractual commitments must be assessed by the prospective buyer. All assets must be valued, all liabilities must be calculated.

After that the legal wrangling will begin, and only after that will a deal be agreed and contracts signed.

Year end 2022 would be a possible but still ambitious timeline for a deal of this magnitude. 

 

 

I can see the biggest sticking point being the Skaggs lawsuit.  Who knows what that judgement/settlement will eventually be.  Could be $5, $5 million, $50 million, $500 million, $5 billion.  If I were the buyer I'd want this settled before the sale is finalized.

Also, while we are talking about rich locals buying the team.  Anyone think that a rich guy from China could just blow the offers out of the water?  If I remember right, a Chinese venture bought that corner property out to develop.  Which I don't think ever happened.  They could be looking at the whole lot to develop with the team being secondary.  MLB might go for it as a sure way to get into the Chinese market quickly.  

[Angel Dog and Beer]

4 hours ago, Ron Mexico said:

Taken from another board can anyone confirm this ??

I heard today, Arte cannot sell the team until the Washington Nationals sale is complete. MLB owners don't want multiple teams for sale at once. Arte has to wait until deal is complete before his team is for sale. Washington is currently up for sale.

Jamie Maggio on KCAL 9 said this last night. Not sure how much truth there is to this. Haven't seen/read it anywhere else. She said it could take 1-2 years before the team is sold. 

[BigVladdy]

8 hours ago, Docwaukee said:

 

I'm guessing a deal with someone will be finalized by October.  

Hopefully in time for direction for the 2022/23 off season.  

Not a chance. My guess is 6 months to a year.

[T.G.]

8 minutes ago, Angel Dog and Beer said:

She said it could take 1-2 years before the team is sold. 

That would be a shame

[angelsnationtalk]

Random thought:

How cool would it be for a billionaire with huge Japanese roots to purchase the Angels?

That would be all the incentive to keep Ohtani in Anaheim and be a popular spot for other Japanese stars. 

Though I still have hope that someone like Steven Ballmer swoops in. 

[Angelsfan1984]

3 hours ago, gotbeer said:

 

I can see the biggest sticking point being the Skaggs lawsuit.  Who knows what that judgement/settlement will eventually be.  Could be $5, $5 million, $50 million, $500 million, $5 billion.  If I were the buyer I'd want this settled before the sale is finalized.

Also, while we are talking about rich locals buying the team.  Anyone think that a rich guy from China could just blow the offers out of the water?  If I remember right, a Chinese venture bought that corner property out to develop.  Which I don't think ever happened.  They could be looking at the whole lot to develop with the team being secondary.  MLB might go for it as a sure way to get into the Chinese market quickly.  

Average wrongful death lawsuits for public entities are 2m. Clearly his earning potential and age will inflate that, but with total liability for the angels being not 100% that will offset it. I deal with these claims all day long. Had the dude been a vegetable instead of dying, his family would be entitled to 20x that number. 

[FIGGY_MVP]

18 hours ago, ukyah said:

 

i'm late to this thread so your post has probably already been discussed, but what i like about cuban is that he seems like a pretty genuine guy, and i believe part of that is a true desire to win championships.  i've seen him a few times on that shark tank show and while the others are trying to fuck the person he comes in and gives them terms that are mutually beneficial. i think that's probably why he does so well with the players on the mavericks. also, i think he's smart enough in his broad business interests to not only allow other people to run the show, but also hold them accountable for results.

i have no opinion on samueli because i don't even know who he is. i assume he owns the ducks? 

The Mavs had a bunch of drama in their front office recently with Donnie Nelson quitting along with Rick Carlisle.  There were rumors that a bookie (or someone like that) was the one running player decisions.  

[Taylor]

34 minutes ago, angelsnationtalk said:

Random thought:

How cool would it be for a billionaire with huge Japanese roots to purchase the Angels?

That would be all the incentive to keep Ohtani in Anaheim and be a popular spot for other Japanese stars. 

Though I still have hope that someone like Steven Ballmer swoops in. 

Maybe the cult leader who founded Soka University in Aliso Viejo will buy the Angels.

[FIGGY_MVP]

18 hours ago, Tank said:

this is fair to ask. i love ballmer's enthusiasm but is their team competitive enough to win a championship? are they building well towards that goal? i don't follow the clippers so i really don't know the answers to this.

if ballmer wants to have skin in the baseball game, i hope he's willing to revamp whatever needs fixing, and that his work will lead the halos back to being a front runner once again. And this needs to be true for whoever buys the team.

The Clippers where one Kawahi knee bump with Joe Ingles away from winning it all two years ago.  The Clippers front office is probably the best in the NBA right and his teams are competitive even when plagued with injuries (like last year or when they took the Warriors to 6 games as the #8 seed a few years ago).  All he has to do is put the Angels in a position to make the playoffs because the MLB post-season is almost always a crapshoot.

[Jay]

The thing I like about Ballmer is he's worth $88 billion so $2.2 billion is no big deal. He can do it for the love of the game and for no other reason.

 

[ScottT]

8 minutes ago, Jay said:

The thing I like about Ballmer is he's worth $88 billion so $2.2 billion is no big deal. He can do it for the love of the game and for no other reason.

 

Does he love baseball?

[Second Base]

10 hours ago, Docwaukee said:

I really hope this happens fast.  

Potential timeline?  Anyone?  

I'm guessing a deal with someone will be finalized by October.  

Hopefully in time for direction for the 2022/23 off season.  

MLB sales are slow transactions. Not only do they collect bids, which takes a while because different groups raise money and find partners. This takes at minimum six months. Then once Arte settles on one bid, they go through the legal process, which takes another couple months. Then the owners have to vote on the acquisition, which I think takes place at the actual owners meetings in October/November. 

It's probably going to be a 16 month process, by which time Shohei Ohtani will already be a free agent, and given the financial and personnel uncertainty of the franchise, there's less than zero chance v he signs an extension. 

[Second Base]

Name change incoming!

[angelsnationtalk]

5 minutes ago, Second Base said:

MLB sales are slow transactions. Not only do they collect bids, which takes a while because different groups raise money and find partners. This takes at minimum six months. Then once Arte settles on one bid, they go through the legal process, which takes another couple months. Then the owners have to vote on the acquisition, which I think takes place at the actual owners meetings in October/November. 

It's probably going to be a 16 month process, by which time Shohei Ohtani will already be a free agent, and given the financial and personnel uncertainty of the franchise, there's less than zero chance v he signs an extension. 

Then what happens this offseason? If Arte is at the first stage of exiting then why bother spending money this offseason? 

[Tank]

1 minute ago, angelsnationtalk said:

Then what happens this offseason? If Arte is at the first stage of exiting then why bother spending money this offseason? 

i'm guessing it would be a way to get more money if he leaves the team in better shape with the roster. plus, since these sales are measured in months, it likely will still be his team over the course of the winter and into the spring, and he's got an ohtani-sized contract to consider. 

if i'm seriously interested in buying the team, i'd want to know what assets i have to work with, and having ohtani signed beyond next year would be a big selling point to me. 

[ScottT]

13 minutes ago, Second Base said:

Name change incoming!

Nah

[Second Base]

8 minutes ago, angelsnationtalk said:

Then what happens this offseason? If Arte is at the first stage of exiting then why bother spending money this offseason? 

I don't think much changes in that department. If he spends to build a winner, the sale price increases. It's like fixing up a house before selling it. 

[Tank]

15 minutes ago, Second Base said:

Name change incoming!

i'd like to see them go back to california or anaheim angels.

i'd also like to see a revamp of the uniform. the red A on the red hat needs to change, for starters.

[gotbeer]

1 hour ago, Angelsfan1984 said:

Average wrongful death lawsuits for public entities are 2m. Clearly his earning potential and age will inflate that, but with total liability for the angels being not 100% that will offset it. I deal with these claims all day long. Had the dude been a vegetable instead of dying, his family would be entitled to 20x that number. 

I don't know if this would or can go to court.  But that's what I'd be worried about.  Some jury getting all righteous and awarding punitive damages.  

[Angel Oracle]

1 hour ago, Second Base said:

MLB sales are slow transactions. Not only do they collect bids, which takes a while because different groups raise money and find partners. This takes at minimum six months. Then once Arte settles on one bid, they go through the legal process, which takes another couple months. Then the owners have to vote on the acquisition, which I think takes place at the actual owners meetings in October/November. 

It's probably going to be a 16 month process, by which time Shohei Ohtani will already be a free agent, and given the financial and personnel uncertainty of the franchise, there's less than zero chance v he signs an extension. 

Time to trade him then in the off-season.   Try to get a #2-3 starter, a top 40 overall prospect, and a just outside top 100 prospect.

Probably can’t do any better than that, with just 1 season to FA.

Morono had to know a month ago that he was thinking of putting the team up for same.

Why didn’t he trade Ohtani then, when the acquiring team would have two post-season runs with him instead of one?

Yet another screw up on his part as Halos owner.   Watch him not trade him at all, and they end up getting only a sandwich round pick.   The most Halos thing ever!

Edited August 24, 2022 by Angel Oracle

[Angel Oracle]

1 hour ago, Second Base said:

I don't think much changes in that department. If he spends to build a winner, the sale price increases. It's like fixing up a house before selling it. 

True, just can’t take on any big contracts.  Need to focus on solid players with just 2-3 years remaining to FA.

Edited August 24, 2022 by Angel Oracle