When the Guggenheim Baseball Management group purchased the Los Angeles Dodgers from Frank McCourt, they paid a record $2.15 billion. It marked the first time a professional sports team was sold for more than $2 billion.
Dodgers chairman and controlling owner Mark Walter, team president and CEO Stan Kasten, and co-owner Magic Johnwon viewed the steep price as an investment. The group was confident they’d be able to restore the proud franchise to its previous heights.
In February, it was reported the ownership group had made a minority stake available for sale. According to Scott Soshnick of Bloomberg, Guggenheim valued the franchise at $2.5 billion:
The owners of the Los Angeles Dodgers say the team is now worth $2.5 billion, according to people with knowledge of the effort to sell a minority stake in the baseball club.
Prior to the instance this year, the Dodgers were said to have previously considered selling a minority stake in the franchise to a group from South Korea. It’s not believed a deal ever neared completion.
The Dodgers were valued at $2.75 billion by Forbes this season, trailing only the New York Yankees. The publication gave New York a $3.4 billion valuation in 2016, and Los Angeles a $2.5 billion valuation.
Despite their overtures, whether the Dodgers will ultimately move forward with a sale of a portion of the franchise is unclear. Should that ever come to fruition, Guggenheim is not expected to surrender a controlling stake of the team.
