Assemblymember Valencia issues statement regarding the Angels Stadium State Audit findings

SACRAMENTO – Assemblymember Valencia (D-Anaheim) issued the following statement:

“The state auditor’s findings on Anaheim’s lease agreement with Angels ownership are deeply alarming and frustrating. This agreement, meant to safeguard the city’s interests, has instead left Anaheim vulnerable to significant risks and missed opportunities.

To start, the lease’s vague language denies Anaheim clear authority to inspect the condition of its own stadium. This has led to unnecessary conflict with Angels ownership and left the city negotiating for basic oversight of its public asset. Even worse, the agreement lacks a requirement for Angels ownership to provide regular updates on the stadium’s condition. Anaheim must act immediately, whether by negotiating a separate agreement or seeking a court order, to ensure it has the ability to properly monitor and protect its own property.

On top of this, the city has failed to adhere to its own audit schedule. Anaheim has not done enough to catch discrepancies or ensure accurate revenue sharing. Combined with the inadequate revenue-sharing provisions, which have netted Anaheim just $415,000 in nearly three decades, the city is missing critical opportunities to safeguard its financial interests.

With the current lease not set to expire until 2032, Anaheim must ensure that these shortcomings are fully addressed before renegotiation. Public assets like the stadium should deliver meaningful financial returns and be managed with clear accountability.

I want to thank the state auditors for their thorough review. Anaheim needs to address these flaws now, protect its assets, and prioritize the best interests of the community.”

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Assemblymember Valencia proudly represents the 68th Assembly district which includes the cities of Anaheim, Orange and Santa Ana. Valencia chairs the Assembly Banking and Finance Committee.