A cadre of top-flight outfielders remains on the free-agent market, including Yoenis Cespedes, Justin Upton, Chris Davis and Alex Gordon.
However, with the Angels' payroll already hovering within $4 million of the $189 million tax threshold Moreno is reluctant to cross, he said, "We're probably going to be out. We're talking to them. The numbers are big. It really gets down to economics."
Moreno made his comments to the Los Angeles Times and Orange County Register prior to serving as grand marshal of the annual Newport Beach Christmas Boat Parade.
"When you start looking at seven-year deals, they're tough," Moreno said. "You really stretch the franchise out. If there's a mistake or injury and it doesn't work out, it really hinders what you're trying to accomplish."
Moreno might have had in mind the five-year, $125 million contract given to outfielder Josh Hamilton prior to the 2013 season, which misfired and for which he remains on the hook for $40 million over the next two years. That accounts for one reason the club's 2016 payroll nears the luxury-tax level and is at an all-time high.
Moreno noted to reporters that the Angels, even without an impact offseason addition, are already spending $20 million more than they have in any other year.
Tom Singer is a reporter for MLB.com and writes an MLBlog Change for a Nickel. He can also be found on Twitter @Tom_Singer. This story was not subject to the approval of Major League Baseball or its clubs.