The Anaheim City Council has voted unanimously to void the 2020 agreement to sell Angel Stadium and surrounding property to Arte Moreno, the owner of the Los Angeles Angels, and SRB Management LLC, starting a legal process Wednesday that introduces conflict of interest concerns.
The stadium site sale was immediately voided because of the City Council's actions and SRB Management LLC, made up of Moreno and his family, was notified of the sale void.The City Council's next step is to start a legal process that will involve filing a motion for declaratory judgment inSuperior Court based on concerns of conflict of interest and that the transaction was "not at arm's length," according to a statement from the City Council.
Additionally, the City Council ends prior negotiations involving the sale of the stadium site that started in 2019 and resulted in agreements approved in September and October 2020. The city-owned stadium and 151 acres of land was set to sell for $320 million, paid partly in cash and partly in affordable housing and a park built on the stadium site.
The deal was subject to updated sale and development agreements, and reflected a now-paused settlement with California related to the Surplus Land Act, that were supposed to go before the City Council in June, the final step before the close of the stadium site sale. The City Council will no longer take action to sell the stadium and develop the surrounding land, as previously approved.The Angels have a lease to play at Angel Stadium through 2029 with the option for three three-year extensions through 2038.that I have read and agree
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