I’m not sure of exact details but there are two major factors and one less important but still notable detail.
1) The stadium. Details are confusing because of the recent deal that was cancelled. I think the current lease gives them an option to out after 2029.

2) TV rights. The Angels last deal was signed in 2011 for $3 billion, 20 years. Bally Sports is going through a bankruptcy. I see more news about other teams and their rights so I’m unsure of how this affects the two Los Angeles channels. They just resigned a multi-year deal with the Kings so business seems to be flowing. When the Angels deal was signed, the team had just gone through the most successful decade in franchise history. The current deal runs through the 2031 season and involves big money and I think the Angels will be losers.

3) The best player in franchise history is done in 2030. Mike Trout’s contract and time with the Angels, if he isn’t traded, ends in 2030. Even if they rebuild and sign other premier players, this is a huge shift in team identity.

On Doomsday, the day we learned Trout was out for the season and Ohtani the pitcher was done, people were saying the Angels were at rock bottom. I countered that we only had to look at Oakland to see what rock bottom was. With no stadium, no TV, an owner who seems to want to cash out, I think we are headed towards rock bottom. The team will make money but I think Arte pockets it and eventually sells the team. The new owner will move the team, hopefully to another OC city, or more likely Long Beach. I don’t see anybody moving the team away from the Los Angeles market, but I wouldn’t count out a bigger move to Nashville or Portland.