North OC Times

Anaheim, Calif. (July 15, 2024) — Anaheim and Angels Baseball ownership have settled a claim over the city’s 2022 ending of a proposed sale of the Angel Stadium of Anaheim site.

The claim by the team’s ownership sought $5 million plus legal fees and is being settled for a credit of $2.75 million with no cash paid by the city. The settlement also clears the way for Anaheim to build a fire station on the stadium site with the support of the team’s ownership.

“This is a fair settlement for our city,” Mayor Ashleigh Aitken said. “It allows both sides to move forward without needless expense and distraction. Clearing the path for a fire station is a priority for Anaheim. A new station will serve the growing number of people who visit and call the Platinum Triangle home and will allow us to bring expanded emergency services to the area without added delay or cost.”

In 2020, Anaheim approved a $320 million sale of the 151-acre stadium site to SRB Management LLC, a company made up of the Moreno family. However, Anaheim’s City Council ended the sale in 2022 after allegations of conflict of interest led to the resignation of a former mayor.

The sale agreement included a provision for SRB to seek $5 million in transaction costs plus legal fees if the city didn’t go through with a sale. The settlement ends SRB’s claim, which was submitted to the city in June 2022. The city took no action on the claim, leaving SRB until May 2024 to pursue any litigation, with both sides agreeing to an extension in an effort to reach a settlement.

Talks about resolving the claim played out over recent months. No new discussions about an extended lease, stadium site sale, or other long-term issues were part of this settlement.

The settlement includes a $2.75 million credit against future stadium revenue shared with Anaheim from baseball ticket sales, parking, and other events held at Angel Stadium. If more than 2.6 million tickets are sold in a season, Anaheim receives $2 from every ticket sold thereafter. Additionally, Anaheim shares 25 percent of additional parking revenue beyond $8.1 million per season and special event revenue exceeding $4 million.

With this agreement, Angels Baseball will keep any revenue beyond these targets until reaching $2.75 million starting in July—a milestone expected within two to three years.

For fiscal year ending June 2024, Anaheim earned $1.4 million from tickets, parking, and events at Angel Stadium; after expenses required under their lease agreement, this resulted in net revenue of $635,632 for Anaheim.

The settlement facilitates construction plans for Fire Station 12 along State College Boulevard on land leased by Angels Baseball but owned by Anaheim City Council paused previous construction plans due concerns raised by team management during ongoing claims discussions

With resolution now achieved—the team agrees collaborate moving forward—Anaheim anticipates finalizing designs within weeks seeking bids soon awarding contracts late-2024 expecting start early-2025 potentially opening doors between-26 -27 significantly reducing emergency response times currently reliant upon distant stations located approximately two miles away each direction

"As-Anaheim grows need grow," stated Fire Rescue Chief Pat Russell adding: "years ahead see even more entertainment businesses homes Platinum Triangle reducing improving level service entire community"