Dodgers sell minority share of team
The Dodgers have sold a minority share in the club to two investors, expanding the team’s ownership group to nine.
The sale does not affect control of the Dodgers. Mark Walter remains the team chairman and controlling owner; Stan Kasten remains the team president and chief executive officer.
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.
Kasten and Dodgers spokesman Steve Brener did not return messages Wednesday. The sale, first reported by Bloomberg, was confirmed by a person familiar with the deal but not authorized to discuss it publicly.
The Dodgers list seven owners on their website. Walter, Todd Boehly, Peter Guber, Magic Johnson and Bobby Patton are the original five owners; Billie Jean King and Ilana Kloss acquired a small share last year.
In 2012, Walter led the Guggenheim Baseball Management group that bought the Dodgers for $2 billion, still the record price for a Major League Baseball team. Boehly said later that year that he believed the team was worth $3 billion.
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