Jump to content
Brewer Fanatic

Group that includes Magic Johnson are the new owners of the LA Dodgers

PrinceEatMeat

By PrinceEatMeat,
in Milwaukee Brewers Talk

Recommended Posts

PrinceEatMeat Carolina Mudcats

PrinceEatMeat

Verified Member
Posted
  • Author
Posted
Sorry, I should've clarified that it's his ownership group that are the new owners. Pretty sure he is the majority owner though.

 

Mark Walter will be the controlling owner apparently.

 

Well, Guggenheim Baseball Partners is technically the owner, but Walter won't be running the team. Stan Kasten is running the day-to-day operations.

Feel free to follow me on twitter https://twitter.com/#!/ItsFunkeFresh
Link to comment
Share on other sites
jjgott ACL Brewers

jjgott

Verified Member
Posted
Posted
I saw someone comment on Twitter that Fred Wilpon must be smiling. If the Dodgers sold for $2 billion, I can only imagine the Mets will bring as much if not more.

 

Isn't the big amount of the value of the Dodgers tied up in the land value of Chavez Ravine?

Link to comment
Share on other sites
TooLiveBrew Milwaukee Brewers

TooLiveBrew

Verified Member
Posted
Posted
Good question, burnzy. That's a staggering amount of money. I'm probably not remembering this correctly, but I swear the last time I saw MLB franchise value estimates, the Yankees were around $2B, & no one else was really nipping at their heels.
Stearns Brewing Co.: Sustainability from farm to plate
Link to comment
Share on other sites
Warning Track Power Carolina Mudcats

Warning Track Power

Verified Member
Posted
Posted

The buzz today in LA is unreal and it's only 8am.

 

This is the equivalent of Brett Favre (prior to 2008) buying the Brewers from the Seligs. The love for Magic in LA is universal and they are already discussing who might be available in trades to upgrade this team immediately. I would think it is a near lock that when Joey Votto becomes a FA after 2013 that the Dodgers are the heavy favorite. Additionally, it wouldn't be hard for me to see a Dodger OF next season of Ethier, Kemp and Josh Hamilton. This ownership group is going to spend money. Wow.

 

As to how this will affect the Brewers, let me say this. Now is definitely the time to lock up Zack Greinke. A Kershaw-Greinke 1-2 in LA would be high on my list if I am Stan Kasten even with Cain and Hamels also potentially out there.

 

I think we're about to see the Dodgers join the Yankees, Red Sox and Phillies as enormous spenders.

Link to comment
Share on other sites
owbc Carolina Mudcats

owbc

Community Moderator
Posted
Posted
I'm not buying the hype yet. It takes time for an ownership group to get established. They have to be willing to change the culture. They also aren't the only big market that is going to be shopping in the next few years--the Mets and Cubs come to mind, and the Yankees and Red Sox will not stay quiet forever. Overall it is good to have some positive buzz in LA, but it's far too early to tell if this will lead to a period of success. At least it can't possibly get any worse.
Link to comment
Share on other sites
Funketown ACL Brewers

Funketown

Verified Member
Posted
Posted

In 2011 Forbes had the Yanks at $1.7 billion, the Sox at $0.9 billion, and the Dodgers third at $0.8 billion.

 

$2 billion for the Los Angeles Dodgers seems entirely absurd. I almost wonder if that's a reporting error. When ManU was taken over in 2005, it was only $1.5 billion, and their market is exponentially larger than that of the Dodgers.

Link to comment
Share on other sites
Fear The Chorizo ACL Brewers

Fear The Chorizo

Verified Member
Posted
Posted

I believe the new ownership group will have the opportunity to negotiate a new TV contract in 2013 - when the Angels got what they did in their new TV deal, and the Rangers recently landed a TV deal worth over between 1.6 and 3 Billion dollars, it starts getting easier seeing how the Dodgers may be worth 2 Billion with a B.

 

Probably an overestimation, but there's people out there saying the Dodgers' new TV deal alone could give them annual revenue approaching 300 million. Plus the stadium, parking lots and other land owned in the area is included with the Dodgers sale. Land in LA is still pretty expensive.

 

The ManU takeover in 2005 is largely irrelevant, since TV money 8 full years later dwarfs what is was then. Purchasing ManU and everything that comes with them right now would cost much more than 1.5 billion.

Link to comment
Share on other sites
xisxisxis First Round Pick

xisxisxis

Verified Member
Posted
Posted

Well, Guggenheim Baseball Partners is technically the owner, but Walter won't be running the team. Stan Kasten is running the day-to-day operations.

 

there is an ownership group. guggenheim is the largest % owner. mlb requires the owners to designate 1 owner to represent the group (walter). walter is not going to handle day to day operatiom, kasten will, but walter is the owner just like attanasio is "the" owner.

Link to comment
Share on other sites
RockCoCougars ACL Brewers

RockCoCougars

Verified Member
Posted
Posted
Magic Johnson has to have a pretty small share of this investment group right? He can't be worth that much money? His name is being attached to this group for obvious PR reasons but there is no way he is a big time money investor in this.

 

I would guess that's the case. At any rate, the whole deal seems like a supreme overpay.

Link to comment
Share on other sites
pitchleague ACL Brewers

pitchleague

Community Moderator
Posted
Posted
He can't be worth that much money?

 

20 seconds on google tells me he was worth $500M in 2009.

 

 

Is that in mint condition? Magic Johnson seems to me to only be in very good condition.

- - - - - - - - -

P.I.T.C.H. LEAGUE CHAMPION 1989, 1996, 1999, 2000, 2006, 2007, 2011 (finally won another one)

Link to comment
Share on other sites
  • 2 weeks later...
SoCal Brew Crew Fan ACL Brewers

SoCal Brew Crew Fan

Verified Member
Posted
Posted

Interesting article in the NY Times Dealbook by Aaron Sorkin (of Too Big to Fail fame) on the Guggenheim group behind the Dodgers purchase. I have a feeling there will be more scrutiny like this on them. Even on Wall St., few are really familiar with them...

 

http://dealbook.nytimes.com/2012/04/09/a-costly-toy-subsidized-by-others/?nl=business&emc=edit_dlbkam_20120410

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing
The Twins Daily Caretaker Fund
The Brewer Fanatic Caretaker Fund

You all care about this site. The next step is caring for it. We’re asking you to caretake this site so it can remain the premier Brewers community on the internet. Included with caretaking is ad-free browsing of Brewer Fanatic.

Become a Caretaker
×
×
  • Create New...