Although Los Angeles Dodgers owner Mark Walter is selling off other holdings while reportedly facing investigations into alleged tax fraud, the two-time reigning World Series champions will not change hands, according to team president Stan Kasten.
“The Dodgers are not being sold,” Kasten said on Friday before the Dodgers defeated the visiting Pittsburgh Pirates 5-4 in 10 innings. “They’re not gonna be sold. They’re not for sale. There’s no process that has been started to sell it, period. We are planning only to win.”
Walter recently reached an agreement to sell his controlling interest in the Los Angeles Lakers, which he bought just a year ago, for a reported $12.5 billion. Josh Kushner and Bob Iger head the group set to take control of the NBA team.
Kasten added, “One thing — we’re all certain about this — the sports portfolio is going to remain intact. It’s important to Mark. I can’t tell you how important the Dodgers are to Mark. The Lakers thing? The Lakers were important to him, too, but it’s kind of an extraordinary opportunity, which he took.”
According to multiple media reports, the Securities and Exchange Commission and the U.S. Attorney’s Office for the Southern District of New York are investigating Walter’s holding company. Walter is the founder of TWG Global and the co-founder and CEO of Guggenheim Partners.
Walter also owns the WNBA’s Los Angeles Sparks, the Professional Women’s Hockey League and French top-flight soccer team RC Strasbourg while holding stakes in the Cadillac Formula 1 team, the Andretti Global motorsports operation and Chelsea of the Premier League in England.
The Cadillac F1 team is not for sale, TWG said in a Friday statement. The PWHL also won’t be sold, according to Kasten.
“The Lakers thing was what we lawyers call sui generis,” Kasten said. “It was just one of those one-of-a-kind things that really has nothing to do with what’s happening with us or the other teams.”
The Dodgers (78-51) lead the National League West by nine games and hold the second-best record in the major leagues, trailing only the Milwaukee Brewers (80-49).
–Field Level Media
