Los Angeles Dodgers owner Mark Walter has been in the headlines for the better part of the past month, first amid reports of being subject to a federal investigation and more recently with his stunning decision to sell the Los Angeles Lakers.
Days later, it now appears Walter and business partner Todd Boehly are exploring the sale of their stakes in Chelsea Football Club, according to the Financial Times. Boehly led a consortium that purchased the prestigious club for $5.33 billion in June 2022. Boehly also is a limited owner of the Dodgers.
Under the terms of the agreement, Boehly who is CEO of Eldridge and Clearlake Capital Group, was to share joint control and governance of the team, plus serve as chairman of the holding company. The relationship between Boehly and Clearlake has been tenuous for multiple years, per The Athletic.
Mark Walter not selling Dodgers
Just like Walter’s reported stance after selling the Lakers to Joshua Kushner and former Disney CEO, he still intends to remain Dodgers owner in the event Chelsea is sold, according to Jack Harris of the California Post.
However, the expectation within the organization is that Walter is still not planning to sell the MLB franchise, a source with knowledge of the situation told the California Post on Monday.
Walter has not publicly commented since news of selling the Lakers, though did issue a statement. Dodgers president and CEO Stan Kasten was faced with questions last week, and assured the Guggenheim group did not have plans to part with the team.
“This is a Laker story. It’s not really a Dodger story. It really has nothing to do with the Dodgers,” Kasten said. “They’re completely separate, and so there are no changes here or contemplated here. And I think that pretty much is the whole story.”
Kasten deemed Walter as a “very sensible guy” and reasoned his decision to sell the Lakers was a matter of being “opportunistic.” The suggestion was the two Dodgers executives never discussed an impending sale of the team.
In addition to the Dodgers and Chelsea FC Club, Walter still holds ownership stakes in the Los Angeles Sparks, Professional Women’s Hockey League, Cadillac Formula 1 and more auto racing teams.
There is speculation his sale of the Lakers — and perhaps now Chelsea — is in response to U.S. Prosecutors and the Securities and Exchange Commission (SEC) running parallel investigations into Walter’s insurance companies and the possibility of facing a need for capital.
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