By Rory Carroll
LOS ANGELES (Reuters) - Los Angeles Angels owner Arte Moreno on Tuesday said he has begun exploring the possibility of selling the Anaheim-based team he has owned for 20 seasons.
"Although this difficult decision was entirely our choice and deserved a great deal of thoughtful consideration, my family and I have ultimately come to the conclusion that now is the time," Moreno said in a statement.
"Throughout this process, we will continue to run the franchise in the best interest of our fans, employees, players, and business partners."
Moreno bought the Angels from the Walt Disney Company (NYSE:DIS) for $180 million in 2003, making the billionaire businessman the first Mexican American to own a major pro sports team in the United States.
The Angels won its lone World Series in 2002, shortly before Moreno purchased it, and the team has struggled in recent years with its last postseason appearance coming in 2014.
The team currently boasts two of the best players in baseball - pitching and hitting sensation and reigning AL MVP Shohei Ohtani and 10-time All-Star and three-time AL MVP slugger Mike Trout.
The Angels Organization said it had retained Galatioto Sports Partners as financial advisors for the possible sale process.