ANAHEIM – Los Angeles Times owner Dr. Patrick Soon-Shiong is exploring a bid to purchase the Los Angeles Angels, according to a report published.
The sports business news website Sportico was the first to report Saturday on Soon-Shiong’s reported interest, citing two people familiar with the matter.
Soon-Shiong told The Times he had no comment. Galatioto Sports Partners, the investment bank handling the sale, also declined to comment to The Times.
The bioscientist and transplant surgeon is worth $6.9 billion, according to Forbes. He finished second in bidding to buy the Los Angeles Dodgers in 2012 with partner Steven Cohen.
The Angels are expected to be sold for at least $2.5 billion, which would be a record for a Major League Baseball team, according to The Times. The sale process is not expected to heat up until the offseason, but Golden State Warriors owner Joe Lacob, investors from Japan and investors from Southern California are among the parties considering whether to bid, The Times reported.
Arte Moreno, who has owned the Angels since 2003, announced Aug. 23 he is exploring a possible sale of the franchise.
“It has been a great honor and privilege to own the Angels for 20 seasons,” Moreno said in a statement released by the team. “As an organization, we have worked to provide our fans an affordable and family- friendly ballpark experience while fielding competitive lineups which included some of the game’s all-time greatest players.
“Although this difficult decision was entirely our choice and deserved a great deal of thoughtful consideration, my family and I have ultimately come to the conclusion that now is the time. Throughout this process, we will continue to run the franchise in the best interest of our fans, employees, players and business partners.”