The Anaheim City Council voted early Wednesday to approve a revised deal with Angels owner Arte Moreno, selling Angel Stadium and the surrounding land for $150 million in cash in return for the team’s commitment to stay in Anaheim through 2050.

The council had voted last December to sell the 150-acre site to Moreno’s company, SRB Management, for $325 million. The city this month proposed to credit SRB for $170 million of that price, with the company agreeing to build almost 500 units of affordable housing and a seven-acre park within the community that will rise from the stadium parking lots.

After almost eight hours of debate — and after 1:30 a.m. Wednesday — the council approved the revised deal on a 5-2 vote, with council members Jose Moreno and Denise Barnes opposed. The council must take a second vote next week to finalize the deal, although that is considered a formality.

“This is a spectacular day for Anaheim,” Councilman Stephen Faessel said.

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