New city leaders will have to determine the right approach. It’s unknown if potential new team owners will want to upgrade the stadium or build a new one.
As baseball fans speculate about which billionaire or private equity firm might buy the Angels, potential buyers are likely trying to suss out what Anaheim’s new City Council would be like as a landlord.
and prospective bidders are looking over the team’s financials, but it’s unknown if that’s a realistic timeline.Maintenance and improvements to the 56-year-old stadium are one big question mark hanging over any potential sale. Angels Baseball disputes that suggestion. Spokeswoman Marie Garvey said in a statement, “Under current ownership, we have spent over seven times more than what the lease requires in capital improvements and maintenance.”
Unlike beloved Dodger Stadium and storied Wrigley Field , Angel Stadium is “just historic due to its age,” said Brown, the Forbes writer.One way to create that opportunity is through covering the sprawling parking lots around the stadium with restaurants, shops, hotels, offices and apartments. It’s what Arte Moreno planned to do once he closed escrow for the property, and Brown thinks any potential buyer of the team would be looking for a development deal with Anaheim.
Natalie Meeks, the new District 6 councilmember, said she’d like to see a new appraisal, or at least an update to the old one, which was completed in 2019.
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