TEMPE, Ariz. — The Angels have been losing on the field, and now they are going to lose off it too.
“We’re going to lose money,” owner Arte Moreno said on Monday. “Probably lose $50 million to $60 million, minimum.”
The Angels’ longtime owner spoke to reporters before the first day of full-squad workouts on Monday, and he said that the team was in line to finish in the red, which was the reason he declined to invest any more than he did.
Moreno said the Angels are going to lose money because payroll has gone up in 2025, and also because of a variety of revenue shortfalls in terms of television, sponsorships and ticket sales. The Angels also pay $25 million a year into Major League Baseball’s revenue-sharing system by virtue of being one of the largest markets, Moreno said.
Moreno did increase the Angels’ payroll from $176 million to $202 million — according to Roster Resource — but they did not sign any of the year’s top free agents.
“I was not interested in spending $200 million,” Moreno said. “We needed too many things to spend $200 million.”
Moreno said the Angels were interested in some other top free agents, but they never were able to agree on a price tag. The only one he mentioned by name was right-hander Nate Eovaldi, who re-signed with the Texas Rangers.
He said the Angels wanted “a middle-of-the-order bat, but the economics and the years didn’t match.”
Moreno nonetheless said he is optimistic about the future because of the Angels’ young players.
“I believe ’25 is going to be a fun year to watch these guys play, and some veterans,” Moreno said.
The Angels lost 99 games last season, their 10th straight season missing the playoffs. Although they added veterans around the roster, the largest contract was the $63 million, three-year deal for Yusei Kikuchi.
Many fans have come to blame Moreno for the team’s failures in recent years.
Moreno acknowledged that he is ultimately responsible, but then quickly pivoted to saying that he has done his part.
“At the end of the day, it’s probably me,” Moreno said. “I can spend the money on (Mike) Trout, but I can’t go in and bat for him. I can spend money on a pitcher, but I can’t tell you how his health is going to be or whether he’s going to keep us in the game or are our guys going to hit?
“At the end of the day, is somebody going to come in here and spend $100 million more? Is it going to make a difference right now? They have to pick the right players and you’ve got to be healthy and they’ve got to play together.”
Moreno, 78, has owned the Angels since 2003, and the first decade was mostly successful. Since then, the team has struggled and Moreno has come under fire. He briefly considered selling the team in 2022, but he pulled the team off the market early in 2023.
Moreno said on Monday that the team is “not for sale right now,” and he provided some insight into what happened a few years ago.
After the deal between the Angels and the city of Anaheim fell apart amid a corruption scandal involving the former mayor of Anaheim, Moreno found himself being connected to the scandal. He said there were reports that he was being investigated by the FBI, and those wore on his family.
“I end up answering more questions about that deal than the baseball stuff,” Moreno said. “It just wore my family to the point where they asked if I would sell the team.”
Now that there is a new administration in Anaheim, the Angels and the city can explore a new deal, but nothing is imminent. The Angels recently picked up an option to continue their Angel Stadium lease through 2032. Moreno said he’ll continue to spend $5 million to $7 million on upgrades, but there seems to be no sign of a major renovation upcoming.
“I’m not going to put $200 million or $300 million into a stadium that the city owns,” Moreno said.
Moreno contrasted the situation in Anaheim with the one in Tempe, where the Angels and the local government split the $20 million price tag for upgrades to the player development facilities. Moreno said there are plans for a similar renovation to Tempe Diablo Stadium, although those may not be complete by next year.
NOTES
Shortstop Zach Neto has been cleared to begin his throwing program. General manager Perry Minasian said it was earlier than the Angels were expecting, although there was still no firm timeline on whether Neto will be ready for Opening Day. …
The Angels met for nearly two hours in advance of Monday’s workout. Manager Ron Washington said there were lots of speakers, ranging from Moreno to the front office to the coaching staff and including players. “It was awesome,” Washington said. “Everybody in there had something to say, and it was quite educational. It was quite heartfelt. And now it’s time to get come out here and take care of business.”