Angels Owner Arte Moreno Announces He Won't Sell Team

Los Angeles has yet to play in the World Series during Moreno's 20-year tenure.

After speculation over a potential change at the top, the Los Angeles Angels will remain under their current ownership for the foreseeable future.

Team owner Arte Moreno and his family have pulled the Angels off the market and will retain ownership, he announced in a Tuesday afternoon statement.

"During this process, it became clear that we have unfinished business and feel we can make a positive impact on the future of the team and the fan experience," Moreno said in the statement. "As discussions advanced and began to crystallize, we realized our hearts remain with the Angels, and we are not ready to part ways with the fans, players, and our employees."

Previously on Aug. 23, Moreno had indicated he would explore a sale of the Los Angeles franchise, currently valued by Forbes at $2.2 billion—the ninth-highest valuation in the major leagues.

Moreno purchased the Angels on May 15, 2003, mere months after Los Angeles won its first and only World Series title. Since then, the Angels have largely struggled, finding some early success in the 2000s but missing the playoffs each of the past eight seasons.

Notably, Los Angeles has been unable to capitalize so far under Moreno on two of the most talented players in baseball history. Center fielder Mike Trout has won as many MVP awards (three) as he's played in postseason games, and designated hitter/pitcher Shohei Ohtani has yet to sniff contention in five years with the team.