The Walt Disney Company bought the Los Angeles Angels organization in 1996, and it changed its name to ‘Anaheim Angels’ in 1997. The squad won its first and only World Series in 2002 while it was owned by Disney.
Although Los Angeles still has some ties to Disney, it was sold to advertising tycoon Arte Moreno in 2003. The Los Angeles Angels baseball team is currently owned by Arturo Moreno; he paid $184 million for the team in 2003. Currently, it is worth roughly $2 billion.
The company Moreno sold to Infinity Broadcasting in 1999 for $8.7 billion, Outdoor Systems, a provider of billboard advertising, was the source of his initial wealth.
Disney had good motives for purchasing its sports teams in the early 1990s. The main goal was to revitalize Anaheim by elevating it to the status of a premier resort city.
In the city in Southern California, which has long been the site of Disneyland, the business intended to construct a second theme park. As it negotiated for the new park, Disney wanted to keep the neighborhood’s officials happy.
The Los Angeles Rams football team’s eventual departure from Anaheim and relocation to St. Louis in 1995 also caused concern for the corporation.