Arte Moreno complains about losing $50M after reports show he cost the Angels $50M
Arte Moreno is once again making headlines with his complaints about financial losses—this time claiming the Angels are set to lose $50–$60 million. However, a recent report by Ken Rosenthal suggests that Moreno’s own cost-cutting decisions, particularly regarding Anthony Rendon, are largely to blame for these losses.
In an attempt to drum up excitement for the upcoming season, Moreno instead chose to focus on finances, telling reporters, including Jeff Fletcher of The OC Register, “We’re going to lose money. Probably lose $50 million to $60 million, minimum.” Surely, nothing fires up a fanbase like hearing their billionaire owner lament his losses.
According to Fletcher, the Angels’ financial struggles stem from increased payroll (now at $202 million), a stagnant television deal, declining sponsorships, falling ticket sales, and the big-market tax they owe due to revenue sharing. Ironically, Moreno seems unaware that many of these issues are a direct result of his own management. Perhaps retaining a superstar like Shohei Ohtani could have helped mitigate some of these losses.
For perspective, Arte Moreno has an estimated net worth of $5 billion, while the Angels are valued at around $2.7 billion. So while he laments losing $50 million, fans may find it hard to sympathize with a billionaire crying over a fraction of his fortune.
