On Friday, it was announced that Angels owner Arte Moreno and his development company bought Angel Stadium for $150 million.
For him, that price was an absolute steal. I know what you’re thinking. How in the world is $150 million a steal? Well, back in December, the Anaheim City Council agreed to sell Angel Stadium and the surrounding parking lots for $325 million. The deal was done, but the city said the structure was subject to change.
Moreno got the cheap price because he agreed to include close to 500 units of affordable housing and a seven-acre park within the small city to rise on the 150-acre stadium property, the city agreed to accept less than half the purchase price in cash.