Angels end talks with Anaheim, claim they can afford to build their own stadium

Things just got real in the contentious showdown between the Angels and the City of Anaheim over proposed renovations of Angel Stadium. According to Bill Shaikin of the LA Times, the Angels have walked away from the talks and have lined up a meeting this Tuesday with officials in Tustin about a potential new stadium.

The Angels have made overtures in LA and Tustin previously, but this time, they aren’t mincing words about their intentions. Again, from the LA Times article:

“We can afford to build a new stadium,” Angels owner Arte Moreno said.

In 2011, Fox Sports agreed to pay the Angels close to $3 billion for long-term television rights, and grant them an ownership stake in Fox Sports West. The Angels could leverage that cash and/or that ownership stake to help pay for a new ballpark, and Moreno could consider taking on development partners. Moreno told The Times that he makes money on the Angels and carries no debt on the team.

On Friday, the Angels notified the city of Anaheim that the team “is hereby electing to terminate” its deal framework “and negotiations pursuant to it,” effective in 30 days. Garvey said the team is walking away from the particular deal, not necessarily from the city of Anaheim.

“It’s been over a year,” Moreno said. “We’ve gone backwards. We haven’t accomplished anything.”

Keep in mind that the Angels already renegotiated their lease with Anaheim to allow them to opt out as late as 2019, so they have plenty more time to play this saga out and find a new home if need be.


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Halo Headlines

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