How rich is Arte Moreno?
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On May 15, 2003, he became the very first Mexican American to possess a major sports team in the United States when he bought the Anaheim Angels baseball team in the Walt Disney Company.
Upon assuming control of the Angels, Moreno cut ticket and beer costs in the arena, and soon shown a readiness to spend the cash needed to sign superior players, including star outfielder Vladimir Guerrero, to increase the team. He also took a hands on strategy, being a regular attendee of the team’s home games and occasionally leaving his owner’s box during matches to mingle with fans in the standard arena seats spaces and concourses. All the moves proved quite popular with enthusiasts. In the very first year of his possession, the Angels brought more than three million supporters, 750,000 more than their tournament season. Nevertheless, Moreno fell upon a large backlash from supporters of the team, and particularly, in the city leaders of Anaheim, California, over his selection in 2005 to change the name of the group in the Anaheim Angels to the Los Angeles Angels of Anaheim. Moreno found the change within an overall technique to improve the team’s sales by actively marketing it to, and connecting it with, the whole Los Angeles metropolitan area, as an alternative to limiting the team’s identity to the city of Anaheim and to Orange County. Recently, the San Diego Zoo and Los Angeles Times happen to be remarkable club patrons, while all baseball TV rights holders additionally use some variant of the team’s new name, suggesting the result of Moreno’s strategy. However, the move outraged Anaheim city officials, who reacted by suing the team. Finally, the team won the suit filed by town. Whatever displeasure devotees believed on the name change hasn’t translated into diminished support for the team, as attendance levels have stayed well above 2002 amounts. Besides the name controversy, Moreno’s first few seasons as owner of the Angels happen to be mostly successful.