Dodgers Sale Of Minority Share Won't Impact Walter, Kasten Roles
The Dodgers sale of a "minority share in the club to two investors" will "not affect control" of the team, according to Bill Shaikin of the L.A. TIMES. Mark Walter remains the team Chair, while Stan Kasten remains the team President & CEO. The Dodgers previously have "considered selling an ownership stake to partners that could help the team expand its reach into Mexico and South Korea." However, the investors in this deal are "believed to be American businessmen." It was "not immediately clear who the businessmen are, what percentage of the team they might now own, how the Dodgers might use the capital infusion or when the team might announce the deal" (L.A. TIMES, 9/19). BLOOMBERG NEWS' Scott Soshnick noted the sale "concludes an effort" that began in '17. Because of "mushrooming franchise values across all major U.S. sports, owners have found it increasingly difficult to sell shares." But even with a "whopping price tag, there probably is no dearth of prospective investors for the Dodgers, a marquee, global brand" (BLOOMBERG NEWS, 9/18).