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Arturo Moreno and the Anaheim Angels

Arizona Millionaire Arte Moreno Owns a Baseball Team


Updated October 20, 2009

Arturo Moreno is the first Mexican-American to own a U.S. major league team. Jerry Colangelo, who played a key role in bringing professional sports to Arizona, mentioned that Mr. Moreno wanted to own a sports team for quite a while. Then he got his opportunity -- with baseball's 2002 world champion Anaheim Angels. The Anaheim Angels subsequently changed the team's name to the Los Angeles Angels of Anaheim.

The Angels are not strangers to Arizona; Tempe Diablo Stadium is their home for Spring Training.

Arturo Moreno was born in 1946. He is married, owns part of the Phoenix Suns and is a former minority investor in the Arizona Diamondbacks. According to Forbes magazine, Moreno has an estimated net worth of $970 million (2009).

A Vietnam veteran, Arturo Moreno graduated from Tucson's University of Arizona. He is truly a self-made millionaire. He and his partner, William Levine, built a company called Outdoor Systems, a billboard company in Phoenix. They eventually sold Outdoor Systems to Infinity Broadcast Corp. for $8.7 billion in stock in 1999. That stock was converted to Viacom stock because of a merger in 2000. In the 2002 Forbes Magazine list of the 400 wealthiest people in America, Moreno was listed as No. 246.

Arturo Moreno paid around $180 million for the Anaheim Angels when the deal was approved by Major League Baseball's owners. In Anaheim, there was uncertainty as to whether they were happy about the sale or not. It seems that it is widely known that Disney had wanted to sell the team, but there were concerns about someone from outside California taking over. One thing everyone agrees upon is that Arturo Moreno loves sports, and loves to win. Can that be bad?
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