Arturo Moreno: Owner of the baseball team worth $2.7 billion

Have you thought of purchasing any favorite sports team? This game is eventually only for the people who are rich entrepreneurs or something or individuals who have a rich background. No! In this article, we will explore about Arturo Moreno, whose father has a printing shop and eventually acquired one of the top baseball teams Los Angels and sold a company worth $8 billion.

Who is Arturo Moreno?

He was born on August 14, 1946 in Tucson, Arizona. He was the oldest son of all 11 children’s of Maria Monero and Arturo Ricardo Moreno. Their parents immigrated from Mexico. His father owns a small printing shop of a Spanish local newspaper and he completed his graduation degree in Bachelors of Science in University of Arizona. His net worth is over $4.9 billion as of 25 July 2024.

What was he famous for?

He was famous for being the CEO of Outdoor Systems and the owner of Los Angeles (previously Anaheim Angels).

The brief summary of Arturo Moreno

Personal life

Arturo Moreno currently lives with his wife Carole Moreno who was married in 1986 and with his 3 children Nikki Moreno, Rico Moreno and Bryan Moreno in Phoenix, Arizona. He started a charity foundation Moreno Family Foundation in the year 1997 who supports the non profit organizations who are focusing on youth and education. Keeping them aside, then he has not disclosed any other thing except the above. He was a private person and his family also did not comment on anything publicly about their personal life.

Career of Arturo

Arturo was hired to work at an advertising company, Eller Outdoor. He traveled across many countries over the next seven years, relocating several times. In 1984, he moved back to Arizona, where he was hired by billboard company Outdoor Systems. In 1984, Moreno with his friend Wally Kelly had attempted to buy the firm from owner William S. Levine was unsuccessful in the decision. Later, Moreno and Kelly then entered into a partnership with Levine, and Moreno became the president and chief executive officer (CEO) afterwards. In 1996, Moreno finally took Outdoor Systems public but in 1998 Outdoor Systems was acquired by Infinity Broadcasting at a price of $8 billion.

His baseball team Journey

Arturo Moreno then purchased the Salt Lake Trappers Minor League team with 17 other investors in 1986. The group owned the team until 1992 with financial success. By 2001, Moreno had a few greater plans and wished to own a Major League Baseball (MLB) team. He was interested in acquiring the Arizona Diamondbacks, although no deal could be reached. He then diverted his interests on the 2002 World Series champion Anaheim Angels. Finally in April 2003, it was announced that Moreno had agreed with the bigger giant, The Walt Disney Company, to acquire the team for over $180 million. 

What Happened After His Baseball Journey?

On May 15, 2003, the commissioner of Major League Baseball, Bud Selig announced that the sale of the Angels to Moreno had been approved. By the decision, Moreno became the first Mexican-American to own a major league sports team. One of the persons who congratulated was the owner of Diamondbacks, Jerry Colangelo. It was later renamed as Los Angeles Angels of Anaheim in the year 2005. The name changing decision led to outrage by the fans. The team justified that it will eventually get linked with the Los Angeles Area. In response, Anaheim city officials sued the team. In addition to that, the team didn’t win any post season game for over (from 2010 to 2022).

Arturo finally decided to sell the team which was worth over $2.2 billion as of March 2022 but eventually didn’t make a deal.

Conclusion

In the end, we understand about the CEO of Outdoor Systems and the owner of Los Angeles Angels(previously Anaheim Angels), Arturo Moreno, his biography, the wiki table summarizing his biography in short, his wife and his childrens with his foundation, his journey in acquisition with the journey of acquisition of Anaheim angeles

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