Stan Kroenke, the owner of Arsenal, is set to pay $4 billion for the Los Angeles Angels baseball team. ESPN broke the story. That amount would be the largest price tag ever seen for a Major League Baseball club.

Kroenke currently holds ownership of teams across several sports. A new stadium for the Angels is reportedly under discussion as part of the deal. The prospective purchase is making headlines in professional sports circles.

If the deal is completed, it would further establish Kroenke's position as one of the most powerful figures in world sport. The move arrives as franchise valuations across Major League Baseball continue to climb.

Analysts point out that the deal may significantly alter the business dynamics of baseball ownership. Further details about the proposed agreement are anticipated shortly.