Lakers Sale, Dodgers Stable
Mark Walter's Lakers Sale Signals No Change for Dodgers, CEO States
Los Angeles Dodgers president and CEO Stan Kasten says the sale of the Lakers by owner Mark Walter signals "no change at all" for the baseball team, according to Daily Breeze. Walter sold the NBA franchise just 10 months after officially taking ownership, fetching $12.5 billion — $2.5 billion more than he paid for it.
The deal hands the Lakers to new owners Bob Iger and Josh Kushner, who are also linked to a potential NBA expansion franchise in Las Vegas. Kasten insisted that move will not touch the Dodgers' finances or operations, OC Register reported.
Kasten Says Dodgers Are Completely Unaffected
Kasten was direct when asked about the Lakers sale. He called Walter an "opportunistic" businessman — someone who moves quickly when a good deal appears. Kasten stressed that Walter's decision to sell does not reflect any shift in his commitment to the Dodgers, according to Daily News.
Kasten also pushed back on concerns that Iger and Kushner's NBA ties could hurt the Dodgers financially. He said the two ownership groups are separate and that the Dodgers' resources remain fully intact, Press Telegram reported.
Walter Pockets $2.5 Billion Profit in Under a Year
The Lakers sale price of $12.5 billion is a staggering number. Walter paid $10 billion when he took official ownership roughly 10 months ago. That means he walked away with a $2.5 billion gain in less than a year, according to Press Enterprise.
That profit could matter beyond just business. Reports suggest Walter is under a federal investigation tied to loans connected to his sports purchases. The sale proceeds could help him pay down some of those loans, SB Sun noted.
Kasten Says He Knew Nothing of Federal Investigation
Kasten told reporters he had no knowledge of any federal investigation until it was first reported about three weeks ago. He did not say what the probe involves or how serious it may be. He said he learned about it the same way the public did — through the news, according to Daily Breeze.
The investigation adds an unusual backdrop to what would otherwise be a clean business story. Walter's quick flip of the Lakers now draws more scrutiny given the legal questions swirling around his finances, OC Register reported.
New Lakers Owners Eye Las Vegas NBA Expansion
Iger and Kushner are not just taking over an iconic franchise. They are also connected to efforts to bring an NBA expansion team to Las Vegas. That dual involvement raised questions about conflicts of interest — but Kasten said it simply does not apply to the Dodgers, Daily News reported.
For now, the Dodgers say it is business as usual. Walter still owns the team. The front office has not changed. And Kasten wants fans to know that whatever happens in the NBA world, the Dodgers are focused on baseball, according to Head Top Asia.
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