Moreno's Plan For Angels Ahead Of Schedule At Five-Year Mark
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Moreno Says Angels' Finances
Ahead Of Seven-Year Plan |
Angels Owner Arte Moreno said that the Angels since he bought the team in '03 have "gone from losing $20[M] annually ... to turning a profit now," one of several indicators that the first five years of Moreno's ownership have "been the most successful in franchise history," according to Bill Plunkett of the L.A. DAILY NEWS. Moreno's economic turnaround has led to the Angels paying "into [MLB's] revenue-sharing pool the past two years." Moreno said of his plans upon purchasing the team, "At the time, I said we had a seven-year plan to get the team economically stable. We're considerably ahead of that." With his $180M acquisition of the team, Moreno said he inherited a team that was "doing $100[M] (in revenue) and losing $20[M]" each year. Moreno added that revenue has "more than doubled to a projected '$220[M] without the playoffs (this season) and we're profitable every year.'" Moreno noted the Angels' advertising revenue has grown from $3M to "over $20[M]." Moreno said of ballpark prices, "We really work hard on affordability. We haven't changed the prices on parking and beer and hot dogs and a lot of stuff for five years." Plunkett writes Moreno's "most unpopular decision was the name change to Los Angeles Angels of Anaheim before" the '05 season. But Moreno said that he "has no regrets" about the change. Moreno: "The only regret I have is that I didn't do it the minute I walked in" (L.A. DAILY NEWS, 5/20).
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