feature-image

Imago

feature-image

Imago

There has been some buzz surrounding the Los Angeles Dodgers’ future ever since their owner, Mark Walter, became involved in a federal probe. Now, that conversation has intensified after Walter sold the Los Angeles Lakers. Given his blockbuster takeover of the NBA franchise 14 months ago, a question arises as to whether the sale has any implications for the Dodgers, and that is what Dave Roberts is addressing.

“I was shocked, like I think everyone else was,” the Dodgers manager said in his recent interview, as per DodgersBeat on X. “That’s above all of our pay grades. But I know that he was excited to take on the Lakers, and so I was as surprised as everyone.”

ADVERTISEMENT

The reporters even asked Roberts about the state of the Dodgers’ ownership and wondered whether there would be any changes to the franchise in the near future, to which he responded:

“I haven’t heard anything. So for me, it’s business as usual.”

ADVERTISEMENT

Walter previously had a 27% minority stake in the Lakers, and then, he bought the franchise from the Buss family for $10 billion last summer. As of August 12, he has sold it to an ownership group consisting of Josh Kushner and Bob Iger, and the $12.5 billion exchange is a record valuation for the NBA team. But Walter’s sudden exit has a broader financial backdrop. 

The Federal Bureau of Investigation and the U.S. Securities and Exchange Commission have been investigating parts of his business empire, and it includes Delaware Life Insurance Co. and Clear Spring Life & Annuity Co. alongside Guggenheim Partners. According to the filings, the assets investment was close to $17 billion instead of the original reports stating just $1.4 billion. 

ADVERTISEMENT

Meanwhile, Mark Walter’s private holding company, TWG Global, has approached multiple investment firms about raising cash to help pay down loans. According to Bloomberg, the organization is also working on restructuring the loans while the probe continues. With the investigation going on and Walter’s investment company taking huge steps, questions surrounding his business continue to exist. But currently there are no reports of selling the Dodgers’ ownership, and that’s exactly what the president of the franchise emphasized. 

“This is a Laker story, not really a Dodger story,” Stan Kasten firmly stated, and he reiterated that there are no changes for the Dodgers in this case. 

ADVERTISEMENT

Meaning, while Walter had to sell the basketball team after just 14 months, he will continue to own the baseball club for over 14 years. The Dodgers are atop the NL West with a 72-48 record. The LA side has recently recovered from a 7-game slide, and the team just had an incredible outing from returning starter Blake Snell on Tuesday. They are expected to win the World Series for a third time in a row. Hence, Dave Roberts and the entire team would rather focus on the games than any ownership debate at this moment.

ADVERTISEMENT

Share this with a friend:

Link Copied!

ADVERTISEMENT

Written by

author-image

Ritabrata Chakrabarti

424 Articles

Ritabrata Chakrabarti is an MLB journalist at EssentiallySports, covering Major League Baseball from the MLB GameDay Desk. He came to sports writing from an engineering background, and focuses on game development, strategic breakdowns and league-wide trends across the season. Ritabrata has over three years of experience in digital content, working across editorial leadership and quality control roles, with a command over accuracy and structure under daily publishing deadlines. His MLB reporting offers fan-oriented explanations of individual and team performances, in-game decisions and roster moves, with recent work on the August trade deadline and the injury news around major players. He tracks daily storylines by connecting on-field performance with the broader shape of a season and the offseason that follows.

Know more

Edited by

editor-image

Deepali Verma

ADVERTISEMENT