Arte Moreno complains about losing $50M after reports show he cost the Angels $50M

Arte Moreno is truly a one of a kind delusional human being, much to the dismay of Los Angeles Angels fans. The long-time meddling and penny-pinching billionaire Angels owner just turned in some iconic quotes, which came off of a recent Ken Rosenthal report about how his cheap business dealings with Anthony Rendon cost himself tens of millions of dollars. Let's get into it all.

To get fans excited for the upcoming Angels season, Moreno talked about economics. “We’re going to lose money,” Arte Moreno told reporters, including The OC Register's Jeff Fletcher. “Probably lose $50 million to $60 million, minimum.” Fans are ready to run through a brick wall for this guy!

The reasons for the lost revenue, which Fletcher lays out, are the Angels increased their payroll to $202 million (although they will not surpass 2023's payroll, which Moreno harped on early in the offseason), their television deal, lack of sponsorships, decreasing ticket sales, and a big market tax the Los Angeles Angels incur via revenue sharing. He does realize that the lack of sponsorships and decreasing ticket sales are because of his own tactics, right? Man, if only the Angels had a player like Shohei Ohtani who could have helped sell tickets and merchandise.

For the record, Arte Moreno's net worth is about $5 billion, and the Angels are worth around $2.7 billion. Everybody is devastated that you're losing $50 million, Mr. $5 Billion.

Arte Moreno complains about losing $50 million after reports show he cost the Angels $50 million

Speaking of losing $50 million...Arte Moreno lost the Angels $50 million! The Athletic's Ken Rosenthal broke it down:

"Adding insult to injury, the Los Angeles Angels do not have insurance on third baseman Anthony Rendon or any other player, according to sources familiar with the club’s policy. The reason: Owner Arte Moreno does not wish to incur the additional cost...one industry source briefed on players’ insurance policies estimates the Angels might have received a net benefit of at least $50 million on Rendon."

Ken Rosenthal

Do many teams purchase insurance on their players? No. However, just the optics of Moreno complaining about losing $50 million when he himself cost the team $50 million is a perfect embodiment of the Angels fan experience. This guy is something else. He was too cheap to purchase insurance on a $275,000,000 player who will be 36-years-old by the time his contract expires. Now, the cheap guy laments that he might lose 1% of his net worth, the exact same amount he would have saved if he wasn't cheap. He is a hostage of his own decisions.

Moreno is the ultimate "bottom line" owner. He only cares about profit. He is going to finish in the red this season, so he refused to invest more than he had to after a 99-loss season. He is too cheap to realize that investing money will reap profit. He refuses to accept the responsibilities of an owner who purchased a big market team, and instead of changing his ways he will merely complain and talk about his losses. Oh, and he's not selling the team.

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