Dodgers fans voiced concerns about American investor Mark Walter selling the Los Angeles Lakers’ majority stake to businessmen Bob Iger and Joshua Kushner, just months after finalizing his 80% controlling stake in the team from the Buss family. Walter is the chief executive officer of Guggenheim Partners and also owns about a 27% stake in the Dodgers.
After his short fire sale of the Lakers, which many believe was prompted by the ongoing DOJ investigation into his accruing loans in recent years, fans of the MLB giant are worried that Walter will take a similar approach with the LAD.
Walter has reportedly sold the Lakers‘ controlling stake for $12.5 billion, turning a profit of about $2 billion since his acquisition last year. Since then, MLB fans have taken to social media to voice their apprehensions about Walter taking a similar route with the reigning World Series champions.
“This sale of the @Lakers , less than a year after Walter’s purchased them, is stunning. He is allegedly under massive financial distress. To get a 20% gain in a fire sale is remarkable. Curious who else was bidding, if anybody. Also makes you wonder if @Dodgers are next and @NBA adjusting vetting process going forward,” one fan commented.
The Dodgers Are Currently Valued at an Astonishing $8 Billion
The MLB giants are currently owned by Guggenheim Baseball Management, a consortium led by the controlling owner, Walter, who, as a group, purchased the team for a mere $2.15 billion in 2012. Besides Walter, some of the big investors in the ballclub are NBA legend Magic Johnson, Todd Boehly, Peter Guber, and Stan Kasten.
According to multiple reliable sources, including Forbes, CNBC, and Sportico, the LAD is currently valued at approximately $8 billion. This would mean that Walter’s 27% stake in the team is valued at a whopping $2.16 billion.
However, to dispel all rumors and apprehensions about the future of his controlling stake in the back-to-back World Series champions, Walter has explicitly stated that he has no intention of selling it.
LA completed a thrilling series sweep over the Royals on Wednesday to kick off their seven-game homestand on a high note and will now host the Brewers in a four-game series at home, starting Thursday.
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