Angels Buying Ballpark Land Under New Deal With Anaheim

The Angels and the city of Anaheim today agreed on a deal under which a company affiliated with team Owner Arte Moreno "would buy Angel Stadium and the surrounding property" for $325M. The city "would not contribute to the cost of either renovating the stadium or building a new one, and the Angels would decide whether to upgrade or replace" the ballpark. Under the deal, the Angels are "committed to play in Anaheim" through '50, with options to extend through '65. The Anaheim City Council is "expected to approve the deal on Dec. 20." The Angels opted out of their lease last year. The agreement "does not commit the Angels to any particular development on the 153-acre site, nor does it say how the team might share revenues from development with the city" (L.A. TIMES, 12/4).