Future of Angel Stadium with Arte keeping the team

[mmc]

The team's current lease with Angel stadium runs through 2029, with three possible three year lease extensions through 2038, and with Arte keeping the team, after one failed deal with Anaheim, he's going to have to figure out something else for a long term home for the team.  What do you ultimately think will happen?  

[Angels 1961]

Arte is what 75 he will sell team after this year. It will be right after Angel parade to celebrate WS win.

[Taylor]

2 hours ago, Angels 1961 said:

Arte is what 75 he will sell team after this year. It will be right after Angel parade to celebrate Cactus League championship win.

Fixed

[Slegnaac]

So Artie could keep the team playing at the current stadium until he is 91?

[Dollar Bill]

Talked with the Anaheim mayor about that:

https://www.latimes.com/sports/angels/story/2023-03-20/anaheim-mayor-angel-stadium-deal-arte-moreno

[disarcina]

as today's LA Times article pointed out - Arte has some leverage with the Halos lease situation.  Despite all the nonsense going on with the Anaheim City Council in recent years regarding the Stadium negotiations -- Arte wound up in the position where he can sit back and entertain offers from the City without any pressure,  The lease extension(s) are at Arte's option through about 2038.    So if the City offers something that Arte does not think is good enough, he can continue on with the existing lease --- the downside of that is -- not sure if any capital improvements to the ballpark will get completed (funded) during that time -- Arte and the Angels may be responsible for ordinary maintenance as any tenant would be-- but neither the City nor the Angels would have any incentive for any major upgrades.

I think Arte will work with the City and come to a long term agreement at some point.  The real question is -- what is Arte's succession plan? Does he have family willing to take over? Partners? It was estate planning (and tax avoidance issues) that led to the O'Malley family selling the Dodgers.

[disarcina]

And YES - the Angels did have two 'done deals' with the City -- that became undone because of a variety of reasons -- none of that needs to be re-hashed here.

Arte can sit back and wait for the City to come to him with an acceptable offer regarding the development of the parking lot area around the ballpark.

There's been a lot of talk about the potential of the Platinum Triangle and I guess, finally, some of that is getting started across the street with the area surrounding the Ducks arena.

[mmc]

 

[cals]

FWIW, I went to high school with the Anaheim mayor.  She grew up in Anaheim Hills and her family runs a fairly well known law firm in OC.  I’d be surprised if they aren’t Angels fans.  So I assume keeping the Angels here is a priority.

[DCAngelsFan]

10 hours ago, disarcina said:

The real question is -- what is Arte's succession plan? Does he have family willing to take over? Partners? It was estate planning (and tax avoidance issues) that led to the O'Malley family selling the Dodgers.

In the SI interview, Arte described walking the field with a particular potential buyer:

Quote

Then I said, ‘You know, you’ve got to walk around the field here. Let’s go to the field.’ We walked around the field. It's just the two of us. And then he says to me, ‘I see in your eyes that you don't look like you’re ready to sell.’ And then he goes, ‘If you don’t want to sell, I want to be your partner, and whatever you want to sell to me, I’ll buy.’

Seemed like a major journalistic fail - "who was this bidder, and did Arte take him up on it" was the obvious next question.  

Anyway, Arte telling that story may indicate something of what he's thinking - bringing on additional ownership partners would provide a cash infusion, cash that could be invested in many different ways, like real estate development, stadium building, or improving the organization. 

  

 

[Blarg]

1 hour ago, DCAngelsFan said:

Seemed like a major journalistic fail - "who was this bidder, and did Arte take him up on it" was the obvious next question.  

Oh FFS you guys don't know jack shit about what you can ask and would be answered in an interview. A good journalist knows when there is a dead end and doesn't sidetrack his time going nowhere. 

[bruin5]

9 hours ago, cals said:

FWIW, I went to high school with the Anaheim mayor.  She grew up in Anaheim Hills and her family runs a fairly well known law firm in OC.  I’d be surprised if they aren’t Angels fans.  So I assume keeping the Angels here is a priority.

In the article the mayor says she has been a long time season ticket holder and a big Angels fan. 

[nando714]

Disney has first dibs on the stadium land/lot if the angels leave 

it’s a win, win for the city 

[BTH]

2 hours ago, DCAngelsFan said:

Anyway, Arte telling that story may indicate something of what he's thinking - bringing on additional ownership partners would provide a cash infusion, cash that could be invested in many different ways, like real estate development, stadium building, or improving the organization. 

That part of the interview reads like the buyer being the one initiating a potential partnership, not Arte.

I don’t think Arte is interested in having any ownership partners while he retains majority ownership. But I could be wrong.

[Amazing Larry]

3 hours ago, DCAngelsFan said:

Seemed like a major journalistic fail - "who was this bidder, and did Arte take him up on it" was the obvious next question.  

It was Frank McCourt and he wanted to buy the parking lot.

[James]

1 hour ago, Trendon said:

That part of the interview reads like the buyer being the one initiating a potential partnership, not Arte.

I don’t think Arte is interested in having any ownership partners while he retains majority ownership. But I could be wrong.

Based off of not selling the team and his recollection of a certain buyer telling him it seemed like he didnt want to sell, I think he may very well bring on a minority owner who eventually becomes the majority owner. It would be a good succession plan to do so. 

[James]

52 minutes ago, Lhalo said:

It was Frank McCourt and he wanted to buy the parking lot.

He was going to have a gondola from Downtown Disney to the stadium

[jsnpritchett]

4 minutes ago, James said:

Based off of not selling the team and his recollection of a certain buyer telling him it seemed like he didnt want to sell, I think he may very well bring on a minority owner who eventually becomes the majority owner. It would be a good succession plan to do so. 

It was actually Kendall Roy.

[James]

1 minute ago, jsnpritchett said:

It was actually Kendall Roy.

I would prefer Roman for the entertainment value alone. 

[Taylor]

26 minutes ago, James said:

I would prefer Roman for the entertainment value alone. 

Cousin Greg would be the best at it. 

[HaloBronco]

13 hours ago, cals said:

FWIW, I went to high school with the Anaheim mayor.  She grew up in Anaheim Hills and her family runs a fairly well known law firm in OC.  I’d be surprised if they aren’t Angels fans.  So I assume keeping the Angels here is a priority.

Fingers crossed that’s the case.