Angels and Anaheim Reach Deal for Team to Stay in City Through 2050
The Angels have bound themselves to the city of Anaheim longer than they have bound themselves to Mike Trout.
For more than half a century, the Angels have played in a stadium surrounded by acres of parking lots. For the first time, the Angels will have the chance to turn those parking lots into an attraction of their own.
The Angels and the city agreed Wednesday on a deal under which a company affiliated with Angels owner Arte Moreno would buy Angel Stadium and the surrounding property for $325 million. The city would not contribute to the cost of either renovating the stadium or building a new one, and the Angels would decide whether to upgrade or replace the current stadium.
Under the deal, the Angels are committed to playing in Anaheim through 2050, with options that would extend the deal through 2065. The Angels were faced with a Dec. 31 deadline to opt out of their stadium lease or remain bound to it through 2029.
Read the full story on LATimes.com.
Correction: A previous version of this story reported by the Los Angeles Times said that the team would buy the stadium. In fact, a company affiliated with Angels owner Arte Moreno will buy the stadium under the proposal. This post has been updated.