Los Angeles Angels of Anaheim
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For a fee of $2.1 million, a syndicate headed by cowboy actor and movie star celebrity Gene Autry purchased an expansion franchise in 1960 from Major League Baseball (MLB) to control and operate a team in the American League (AL). Besides owning radio and television enterprises, Golden West Broadcasters, Autry was an investor in a minor Pacific Coast League (PCL) baseball team named the Hollywood Stars. With an estimated $300 million in wealth, he and his group had a business plan, financial capital, and mission to organize a new team to play in professional baseball’s AL.