clock menu more-arrow no yes mobile

Filed under:

Dodgers reportedly interested in selling minor stake in team

MLB: NLDS-New York Mets at Los Angeles Dodgers
Dodgers chairman Mark Walter, president and CEO Stan Kasten and ownership partner Todd Boehly, seen here with Sandy Koufax during the 2015 NLDS.
Jayne Kamin-Oncea-USA TODAY Sports

Guggenheim Baseball Management, which owns the Dodgers, is reportedly looking to sell a minority ownership stake in the team, per Scott Soshnick of Bloomberg News.

It is unknown exactly what percentage of the team is up for sale, but the current ownership group will retain operational control of the franchise, per Soshnick.

The club has retained Sal Galatioto of Galatioto Sports Partners to field offers for the club. Galatioto lists among its clients the Cubs, Yankees, Angels, A’s and Giants, plus teams from other sports including the Warriors and New York Giants and New York Jets.

More from Soshnick:

“During our five years with the Dodgers, we have had a steady stream of inquiries from different parties interested in becoming a part of Dodger ownership,” Chief Executive Officer Stan Kasten said.

“With continuing developments in the sports and entertainment industry, both domestically and internationally, we thought this might now be a good time to examine some of the opportunities more closely.”

Guggenheim bought the Dodgers, which included Dodger Stadium and the surrounding land (the latter shared with former owner Frank McCourt), in 2012 for a record $2.15 billion.

A South Korean group was interested in buying 20% of the team in 2015, but that deal never came to fruition.

Bill Shaikin of the Los Angeles Times provided some reasons why some might be interested in purchasing an ownership stake but with no say in the operation of the team:

“This is a global brand,” Galatioto said. “People might be able to help internationally develop the brand.”

Marc Ganis, president of Chicago-based Sportscorp Ltd., said limited partners generally have no say in the operation of the team and tend to invest for two reasons: asset appreciation, and what he called the “package of goodies” — the best seats in the house, the potential for a championship ring, and the cachet that comes with being a part-owner of a popular sports team.

Any ownership transfer would need to be approved by MLB owners.