Rams owner Stan Kroenke continues to expand his sports empire: The billionaire is acquiring a controlling stake in an MLB team, thereby adding another franchise to his massive sports empire.

Stan Kroenke, owner of the Los Angeles Rams, is acquiring a Major League Baseball team.

As confirmed Tuesday by the Los Angeles Angels and Kroenke’s company, Kroenke Sports & Entertainment (KSE), the 79-year-old is acquiring the majority stake from Arte Moreno, who had led the franchise for 23 years. However, the deal still needs to be approved by MLB and is expected to be finalized in the first quarter of 2027.

Financial details have not yet been officially confirmed, but according to several consistent reports, the valuation is around four billion dollars. This would make the deal the new MLB record, surpassing the previous one set just recently by the San Diego Padres when they were sold.

“The Angels are a franchise steeped in tradition with a strong market behind them,” Kroenke was quoted as saying in a joint statement. “We look forward to an exciting future with the organization.”

Also in Europe: Stan Kroenke owns a massive sports empire

For NFL fans, the news is likely to be particularly interesting in light of Kroenke’s growing influence in the sports business.

The Rams owner already holds stakes in an impressive array of franchises: the Denver Nuggets (NBA), the Colorado Avalanche (NHL), the Colorado Rapids (MLS), and English Premier League champions FC Arsenal.

Formally, the Nuggets and the Avalanche are owned through his wife, Ann Walton Kroenke, to circumvent NFL rules that prohibit a team owner from owning franchises in other markets.

With the Angels, a second team from the Greater Los Angeles area is now joining the fold—alongside the Rams, who, like the Chargers, play at Kroenke’s SoFi Stadium. Kroenke’s sports empire, most recently valued at over $26 billion according to “CNBC,” will soon grow to include six major franchises across five different leagues.