Arte Moreno

Last updated
Arturo Moreno
Arte Moreno cropped.jpg
Arte Moreno in 2007.
Born
Arturo Ricardo Moreno

(1946-08-14) August 14, 1946 (age 73)
Residence Phoenix, Arizona
EducationB.S. University of Arizona
Occupationbusinessman
Known forCEO of Outdoor Systems; owner of Los Angeles Angels
Net worthIncrease2.svg US$2.5 billion [1]
Parent(s)Mary and Arturo Ricardo Moreno

Arturo "Arte" Moreno (born August 14, 1946) is an American businessman. On May 15, 2003, he became the first Mexican-American to own a major sports team in the United States when he purchased the Anaheim Angels baseball team from the Walt Disney Company.

Contents

Early life and education

Moreno was born to a Mexican American family in Tucson, Arizona, [2] the oldest of 11 children of Maria and Arturo Moreno, who immigrated from Mexico. [3] His father ran a small print shop; his grandfather owned Tucson's first Spanish-language newspaper. [3] In 1965, graduated from high school and in 1966, he was drafted into the United States Army and fought in the Vietnam War. After returning to civilian life in 1968, he enrolled at the University of Arizona where he graduated in 1973 with a degree in marketing.

Tucson, Arizona City in Arizona, United States

Tucson is a city in and the county seat of Pima County, Arizona, United States, and is home to the University of Arizona. The 2010 United States Census put the population at 520,116, while the 2015 estimated population of the entire Tucson metropolitan statistical area (MSA) was 980,263. The Tucson MSA forms part of the larger Tucson-Nogales combined statistical area (CSA), with a total population of 1,010,025 as of the 2010 Census. Tucson is the second most-populated city in Arizona behind Phoenix, both of which anchor the Arizona Sun Corridor. The city is 108 miles (174 km) southeast of Phoenix and 60 mi (97 km) north of the U.S.–Mexico border. Tucson is the 33rd largest city and the 58th largest metropolitan area in the United States (2014).

Mexico Country in the southern portion of North America

Mexico, officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatemala, Belize, and the Caribbean Sea; and to the east by the Gulf of Mexico. Covering almost 2,000,000 square kilometers (770,000 sq mi), the nation is the fifth largest country in the Americas by total area and the 13th largest independent state in the world. With an estimated population of over 129 million people, Mexico is the tenth most populous country and the most populous Spanish-speaking country in the world, while being the second most populous nation in Latin America after Brazil. Mexico is a federation comprising 31 states plus Mexico City (CDMX), which is the capital city and its most populous city. Other metropolises in the country include Guadalajara, Monterrey, Puebla, Toluca, Tijuana, and León.

United States Army Land warfare branch of the United States Armed Forces

The United States Army (USA) is the land warfare service branch of the United States Armed Forces. It is one of the seven uniformed services of the United States, and is designated as the Army of the United States in the United States Constitution. As the oldest and most senior branch of the U.S. military in order of precedence, the modern U.S. Army has its roots in the Continental Army, which was formed to fight the American Revolutionary War (1775–1783)—before the United States of America was established as a country. After the Revolutionary War, the Congress of the Confederation created the United States Army on 3 June 1784 to replace the disbanded Continental Army. The United States Army considers itself descended from the Continental Army, and dates its institutional inception from the origin of that armed force in 1775.

Career

Advertising background

After school, he was hired to work at the Eller Outdoor advertising company. He traveled across the country for the next seven years, relocating several times and in 1984, he moved back to Arizona, settling in Phoenix, where he was hired by billboard company Outdoor Systems.

Karl Eller was an American businessman and entrepreneur.

Arizona State in the United States

Arizona is a state in the southwestern region of the United States. It is also part of the Western and the Mountain states. It is the sixth largest and the 14th most populous of the 50 states. Its capital and largest city is Phoenix. Arizona shares the Four Corners region with Utah, Colorado, and New Mexico; its other neighboring states are Nevada and California to the west and the Mexican states of Sonora and Baja California to the south and southwest.

Phoenix, Arizona State capital city of Arizona, United States

Phoenix is the capital and most populous city in Arizona, with 1,660,272 people. It is also the fifth most populous city in the United States, and the only state capital with a population of more than one million residents.

In 1996, Moreno took Outdoor Systems public. The company's stock soared, and in 1998 Moreno sold the company to Infinity Broadcasting for $8 billion.

Baseball ownership

With baseball being Moreno's favorite pastime, he applied his business acumen in that arena, as well, purchasing the Salt Lake Trappers minor league team alongside 17 other investors in 1986. The group owned the team until 1992, and the venture proved to be a resounding financial success.

By 2001, Moreno was hungry to own a Major League Baseball (MLB) team. He attempted to buy controlling interest in his homestate's Arizona Diamondbacks, however no deal could be reached. He nonetheless remained determined to own a Major League team, and soon set his sights on the 2002 World Series champion Anaheim Angels.

Major League Baseball Professional baseball league

Major League Baseball (MLB) is a professional baseball organization and the oldest of the major professional sports leagues in the United States and Canada. A total of 30 teams play in the National League (NL) and American League (AL), with 15 teams in each league. The NL and AL were formed as separate legal entities in 1876 and 1901, respectively. After cooperating but remaining legally separate entities beginning in 1903, the leagues merged into a single organization led by the Commissioner of Baseball in 2000. The organization also oversees Minor League Baseball, which comprises 256 teams affiliated with the major league clubs. With the World Baseball Softball Confederation, MLB manages the international World Baseball Classic tournament.

Arizona Diamondbacks Baseball team and Major League Baseball franchise in Phoenix, Arizona, United States

The Arizona Diamondbacks, often shortened as the D-backs, are an American professional baseball team based in Phoenix, Arizona. They compete in Major League Baseball (MLB) as a member of the National League (NL) West division. The team plays its home games at Chase Field, formerly known as Bank One Ballpark. The Diamondbacks have won one World Series championship – becoming the fastest expansion team in the Major Leagues to win a championship, which it did in only the fourth season since the franchise's inception.

2002 World Series 2002 Major League Baseball championship series

The 2002 World Series was the championship series of Major League Baseball (MLB)'s 2002 season. The 98th edition of the World Series, it was a best-of-seven playoff between the American League (AL) champion Anaheim Angels and the National League (NL) champion San Francisco Giants; the Angels defeated the Giants, four games to three, to win their first, and, to date, only World Series championship. The series was played from October 19–27, 2002, at Pacific Bell Park in San Francisco and Edison International Field of Anaheim in Anaheim.

In April 2003, it was announced that Moreno had reached a deal with The Walt Disney Company to purchase the team for $180 million. On May 15, 2003, MLB commissioner Bud Selig announced that the sale of the Angels to Moreno had been approved. [4] One of the first people to congratulate Moreno after the news was Diamondbacks' owner Jerry Colangelo, a personal friend who declared it a good opportunity for Moreno.

Angels owner

Moreno soon demonstrated a willingness to spend the money necessary to sign premium players, including star outfielder Vladimir Guerrero, to improve the team. He also took a hands-on approach, becoming a regular attendee of the team's home games and periodically leaving his owner's box during games to mingle with fans in the regular stadium seating areas and concourses. All of these moves proved very popular with fans. In the first year of his ownership, the Angels drew more than three million fans, 750,000 more than their championship season. [5]

However, Moreno encountered a substantial backlash from fans of the team, and in particular, from the city leadership of Anaheim, California, over his decision in 2005 to change the name of the team from the Anaheim Angels to the Los Angeles Angels of Anaheim. Moreno saw the change as part of an overall strategy to increase the team's revenue by actively marketing it to, and associating it with, the entire Los Angeles metropolitan area, rather than restricting the team's identity to the city of Anaheim and to Orange County. In recent years, the San Diego Zoo and Los Angeles Times have been notable club sponsors, while all baseball TV rightsholders also use some variation of the team's new name, indicating the effect of Moreno's plan. But the move outraged Anaheim city officials, who responded by suing the team. It also angered a substantial segment of the Angels' fan base in Orange County, who took pride in the team's identity being distinct from Los Angeles. The awkwardness of the of Anaheim suffix, appended to satisfy a contractual requirement for Anaheim to be included in the team's name, also caused the new name to become the subject of national ridicule. [6] [7] [8] Eventually, the team won the lawsuit filed by the city. Whatever displeasure fans felt over the name change has not translated into diminished support for the team, as attendance levels have remained well above 2002 numbers.

Aside from the name controversy, Moreno's first few seasons as owner of the Angels were largely successful. The team posted three consecutive winning seasons for the first time in club history (2007–2009), [9] including winning the American League Western Division championship in 2004, 2005, 2007, 2008, 2009, and 2014 when they finished with a league leading 98 regular season wins.

Just prior to the start of the 2006 Major League season, Moreno scored another success in signing a lucrative contract with Fox Sports Net for the television broadcast rights for the Angels' regular season games. The ten-year deal significantly increased the team's television revenue. In April 2006, Forbes magazine estimated the team to be worth $368 million—twice the amount Moreno paid for the club only three years earlier; in January 2018 Forbes estimated the franchise value at $1.75 billion. [10]

[Moreno] has really done an amazing job with the franchise. To double the value in three years without getting a new stadium is an incredible feat.

Forbes magazine associate editor Kurt Badenhausen [11]

Other business interests

On February 26, 2006, Moreno led a partnership of buyers to purchase Radio 830 KMXE, the nation's largest Spanish-language AM radio station. For the 2006 and 2007 seasons Radio 830 KMXE served as the Spanish-language radio broadcast outlet for the Angels. On July 17, 2007 the station began broadcasting from new studios located in Angel Stadium. Just before the 2008 season the station became AM830 KLAA (AM) and went all English language, including the Angels game broadcasts. The station has since added morning and afternoon sports talk shows to its lineup.

While it seems a new trend for sports teams to buy their own radio stations (see St. Louis Cardinals baseball and Washington Redskins football teams), for the Angels it is a tradition started by team founder Gene Autry, who owned 710 KMPC and broadcast the games for years. [12]

Personal life

Moreno has been married twice. He has three children. [5]

In 1997, Moreno and his wife established the Moreno Family Foundation, which supports non-profit organizations focusing on youth and education. It also has provided support to the athletic programs at the University of Arizona.

Aside from this, Moreno is vigilant about maintaining his privacy. He refuses most interview requests, and does not discuss his personal life publicly. His family and friends also avoid commenting on his personal life publicly, though off the record, those who know him describe him as "unabashed in his support of Republican politics" [13] and as particularly dedicated to his family.

Notes

  1. "Forbes Moreno profile". Forbes. Retrieved January 4, 2018.
  2. Mendez, Davis (March 4, 2013). "Tucson born Moreno among Forbes wealthiest". Tucson Weekly. Retrieved January 5, 2018.
  3. 1 2 Los Angeles Times: "Generosity and work ethic were the gifts that helped turn his son into a billionaire owner" by Sam Farmer Sam Farmer
  4. Mark Boster (May 15, 2003). "Arte Moreno". Los Angeles Times.
  5. 1 2 Boeck, Greg (February 2, 2004). "Moreno a thorough baseball man". USA Today. Archived from the original on December 17, 2005. Retrieved October 6, 2019.
  6. Moore, David Leon (2005-02-23). "City of Angels … and Dodgers". USA Today .
  7. Lennon, David (2005-10-05). "AL DIVISION SERIES, ANGELS NOTEBOOK, What's in a name? Big bucks". Newsday . p. A70.
  8. Shaikin, Bill (2005-01-04). "Angels to Be a Team of 2 Cities". Los Angeles Times . p. A1.
  9. Shalkin, Bill. (2007, February 26). "Moreno keeps pushing and pushing", Los Angeles Times
  10. "Forbes estimates team value". Forbes. Retrieved January 5, 2018.
  11. Shalkin, Bill. (2006, April 21). "Angels Increase in Value", Los Angeles Times
  12. (2006, February 6). "Partnership Led by Arte Moreno to Acquire Radio 830 KMXE; Deal to Create Bilingual Format and Expand Sports Broadcasting in Southern California Archived 2009-09-24 at the Wayback Machine ", Hispanic PR Wire
  13. Reaves, Joseph A.; Harris, Craig & Higuera, Jonathan J. (April 23, 2003). "Baseball more than business for Moreno". Arizona Republic. Archived from the original on January 17, 2013. Retrieved October 6, 2019.

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