Mark Walter could be collecting liquid capital for potential legal settlements with Los Angeles, caught in the crossfire. The ask is in the billions, and selling the Dodgers could help. According to analysts, an ownership change can affect the futures of Andrew Friedman and Shohei Ohtani. However, this early speculation has left fans angry and frustrated.

While the Dodgers aim for their third consecutive World Series win, the team’s principal owner, Walter, is reportedly shrinking his extensive sports portfolio. The LA Lakers took the first hit when Walter finalized the team’s sale in less than 72 hours.

That move had already put a question mark on the Dodgers’ future.

It only intensified when reports about Walter preparing to sell his 12% minority share of Chelsea FC emerged.

Bill Plaschke of the LA Times explored how a potential ownership change cast doubts on Ohtani and Friedman’s future.

“If Walter sells the team, they could possibly lose their two MVPs — Friedman and Ohtani,” wrote Plaschke of the LA Times, per Punchoutpitch on X.

Losing both would be a seismic blow for the Dodgers, with Andrew Friedman having shaped the franchise for nearly 12 years and Shohei Ohtani becoming a cornerstone just over two years into his Los Angeles tenure.

“Unless the new owners give Friedman a piece of the team, he could set off to build another dynasty elsewhere,” Plaschke wrote on August 23. “And Ohtani has a clause famously included in his contract that allows him to leave if either Friedman or Walter leaves.”

“If Walter goes, Ohtani could demand a new contract with terms that a new cash-strapped owner cannot afford…Dodgers fans should be afraid. Very afraid.”

The Securities and Exchange Commission, alongside federal prosecutors, is investigating Walter’s insurance entities. Authorities are probing TWG Global, Delaware Life Insurance Co., and Clear Spring Life & Annuity Co., along with Guggenheim Partners, over whether billions of dollars in private credit investments were improperly tied to Walter’s other businesses. 

Though Walter is not currently facing any charges, he might be preparing for a future legal settlement.

Walter profited $2.5B from the Lakers’ sale. He sold the team for $12.5B 14 months after he bought it.

However, it likely won’t be enough to meet the amount Walter would need to settle. But selling the Dodgers could.

In 2012, Guggenheim Partners bought the Dodgers for 2.15B. The Dodgers’ valuation has now reached  $7.8 B and it could only spike with another World Series win.

Guggenheim Partners had previously paid a $20 million settlement to the SEC in 2015 over an undisclosed $50 million loan received by Todd Boehly.

Walter and Boehly are currently business partners and co-investors in Chelsea FC. Boehly previously worked for Walter at Guggenheim Partners.

If Walter does end up selling the Dodgers, Shohei Ohtani can trigger the “key-man” clause in his contract. His 10-year, $700 million contract allows him to leave the franchise any time Walter or Friedman leaves the Dodgers.

Plaschke’s speculation has left the Dodgers’ fans frustrated as there is no confirmation of the sale yet.

Dodgers fans express frustration at exit rumors

“You have to be an idiot to think Shohei would leave,” one fan wrote.

Another fan chose to shed light on other teams’ inability to match the figures that Ohtani is getting.

“He’s not leaving, no one can match that contract he’s got,” the comment read.

Shohei Ohtani is under a 10-year, $700 million contract with the Dodgers that he signed ahead of the 2024 season. However, Ohtani will receive most of the money ($680 million) in deferred payments after the contract is over. But if Ohtani leaves the Dodgers and the new CBA bans deferred contracts, no other team will offer him a similar one.

“Ohtani isn’t walking away from all of this deferred money,” another fan remarked,

Though Ohtani’s annual AAV is $70 million, Ohtani is deferring $68 million and receiving $2 million per year. He will earn only $20 million over the 10 years. Ohtani will receive the rest of his deferred $680 million in installments from 2034 to 2043.

“lol Ohtani isn’t throwing 3/4 a billion in the trash, dude may not pitch again, and that’s why he got paid was to hit and pitch,” a user wrote.

Ohtani’s value lies in his unique ability to hit and pitch at an elite level. But at 32, coming off his second Tommy John surgery, maintaining the two-way workload has not been easy. The Dodgers had to shut Ohtani down from pitching due to his knee and biceps injuries.

“He only owns a small portion; don’t be dumb,” another user wrote.

Guggenheim Baseball owns the Dodgers. Mark Walter is the controlling owner, with 27% of the team under his name.

The rest is owned by minority partners, including Todd Boehly (20%), Magic Johnson, Peter Guber, Stan Kasten, Bobby Patton, and others.

While the speculation made fans anxious and probably wondering about alternatives, even though Kasten has noted several times that the sale isn’t happening, the analysis cannot be completely negated.