The Los Angeles Angels are set to be sold to real estate and sports mogul Stan Kroenke, marking the latest in a string of major Southern California sports franchise sales. Kroenke will buy a majority stake in the Major League Baseball team from current owner Arte Moreno, adding to a sports empire that already spans several major American leagues and, notably, an English Premier League club.

The deal values the Angels at more than $3.9 billion (£3.1 billion), in line with the sale price of the San Diego Padres earlier this year, and represents an enormous increase on the sub-$200 million Moreno paid Disney for the club in 2003. Kroenke already owns the NFL's Los Angeles Rams, the NBA's Denver Nuggets, the NHL's Colorado Avalanche, MLS side Colorado Rapids and Arsenal FC in England, meaning the Angels purchase gives him teams across every major US sports league. The sale follows weeks after the Los Angeles Lakers were sold to Bob Iger and Josh Kushner for a record $12.5 billion, underlining a wave of high-value ownership changes among the city's top sports franchises.