Momentary panic swept through Los Angeles on Wednesday morning when news broke that Mark Walter was selling the Los Angeles Lakers only 10 months after being approved as the team's owner, wondering whether the Dodgers are next.
Well, as it turns out, nothing is expected to change.
The Dodgers are not being sold, a high-ranking official familiar with Walter’s plans told USA TODAY Sports, and that it will be business as usual with Walter retaining control of the club and remaining chairman.
The person spoke on the condition of anonymity ahead of Walter issuing an official statement Wednesday.
So, yes, even when the Dodgers win their next World Series, they can still afford to have a parade and celebrate with Dom Perignon.
The Dodgers are still going to be the Dodgers. Oh, they won’t have the crossover in advertising and marketing with the Lakers any longer, but Walter and the Guggenheim ownership group will have an extra $2.5 billion in their pockets – although they’ll be paying significant taxes on the short-term capital gain.
Walter made himself the cool $2.5 billion profit by purchasing the Lakers for $10 billion last October, and then selling the team for $12.5 billion on Wednesday to Bob Iger and Josh Kushner in the largest sale of an American sports franchise in history. Kushner is the younger brother of Jared Kushner, Donald Trump’s son-in-law, and his group also bought a minority stake in the San Francisco Giants earlier this year.
“Owning the Los Angeles Lakers has been one of the great honors of my life – an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,’’ Walter said in a statement provided to ESPN. “I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
But sell the Dodgers next? It’s not happening.
Thanks to Shohei Ohtani, the Dodgers became the first baseball team to eclipse $1 billion in annual revenue last season and the money keeps pouring in.
This is a franchise that Walter and his partners purchased for $2.15 billion in 2012 from Frank McCourt. The Dodgers have since become the most profitable team in baseball history, worth an estimated $9 billion.
They are also baseball’s most successful franchise in recent years, winning three World Series championships since 2020, drawing more than four million fans a year, with a payroll about four times the size of small-market franchises.
There’s also no indication that Walter plans to dismantle any part of his sports empire that also includes the Professional Women’s Hockey League, the WNBA Los Angeles Sparks, Chelsea of the English Premier League, and the Cadillac Motor 1 Team.
Yet, Walter and his group are under federal investigation by the Securities and Exchange Commission and the U.S. Attorney’s Office for alleged loan fraud using insurance money from policy holders to pay loans to undisclosed outside business ventures.
It’s unknown whether the Lakers’ sale, which came together within 72 hours, was tied at all to the investigation.
MLB officials also are unaware of any potential wrongdoings that would impact the Dodgers.
Follow Nightengale on X: @Bnightengale
This article originally appeared on USA TODAY: Will Lakers sale impact Dodgers? Owner Mark Walter faces federal probe





