The public face of the Dodgers now rests with Stan Kasten as their president and co-owner. On Monday we caught up with him at the Winter Meetings and asked him about his new position in LA; how the ownership group was assembled; what Magic Johnson brings to the table, and; how that massive TV deal factors into what the Dodgers do, not only now, but years to come.
Few recent club sales have altered the landscape in Major League Baseball as quickly as that of the Los Angeles Dodgers. Whether it was the unprecedented purchase price of $2.15 billion, the flurry of trades that including taking on over $163 million in contract dollars as part of the blockbuster trade with the Red Sox that included Adrian Gonzalez, Josh Beckett and Carl Crawford, or the media rights deal that the club is on the cusp of completing that is reported to be between $6-$7 billion, the Dodgers have become a juggernaut. The public face of the Dodgers now rests with Stan Kasten as their president and co-owner. On Monday we caught up with him at the Winter Meetings and asked him about his new position in LA; how the ownership group was assembled; what Magic Johnson brings to the table, and; how that massive TV deal factors into what the Dodgers do, not only now, but years to come.
Inspired by the top-heavy Tigers and Dodgers, Brad investigates how well NBA-style roster construction works in MLB.
Since the NBA playoffs are currently going full throttle, this seems as apt a time as any to explore a basic concept of roster construction from that league to big-league baseball. Of course, many of you will disagree with this necessity of this because you don't like the NBA. Some of you will deny the very existence of professional basketball. That's okay. Trust me, this is a baseball article.
The Inside the Park series is about stories, but sometimes there in no particular story angle to what otherwise seems like a fun idea for an article. That's the case here. During the offseason, and after the Prince Fielder signing, I read a number of analyses of the Detroit Tigers that described their roster as top-heavy. Insofar in that there is criticism in that observation, the issue is that such a team is going to be more vulnerable to an injury to a key player. When Victor Martinez was injured, Detroit was able to throw the GDP of a good-sized nation Fielder's way, but such an option doesn't exist once the season begins. If Fielder or Miguel Cabrera or Justin Verlander were to go down, the Tigers would be perhaps be sunk even give their tepid competition in the AL Central. They would likewise be more exposed in the event of less-than-elite performances by any of the aforementioned trio. In fact, that may be happening already.
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It took a day longer than expected, but shortly after 10 AM PT on May 1, the sale of the Los Angeles Dodgers from Frank McCourt to Guggenheim Baseball Management LLC (“GBM”) for $2 billion took place. The Dodgers’ new ownership includes Mark Walter as control person, Earvin “Magic” Johnson, and Stan Kasten as CEO of the organization.
The Los Angeles Dodgers stated, “The Dodgers emerge from the Chapter 11 reorganization process having achieved its objective of maximizing the value of the Dodgers through a successful Plan of Reorganization, under which all claims will be paid. The Dodgers move forward with confidence - in a strong financial position; as a premier Major League Baseball franchise; and as an integral part of and representative of the Los Angeles community.”
The Frank McCourt era blissfully comes to an end in Los Angeles, as a group led by Magic Johnson agrees to purchase the Dodgers for a whopping $2.15 billion.
It wasn’t the most cash in the deal that won the day, but rather a whopping total, and maybe—just maybe—some goodwill for Frank McCourt.
Late Tuesday night, the Dodgers and Frank McCourt announced they had reached an agreement under which Guggenheim Baseball Management LLC (“GBM”) will acquire the Dodgers for $2 billion upon completion of the closing process. The purchasing group includes Mark R. Walter, who is the CEO of Guggenheim Partners, a privately held global financial services firm with more than $125 billion in assets under management , as its controlling partner. However, it’s former Los Angeles Laker great Earvin “Magic” Johnson who will likely be the face of the Dodgers. The group also includes Peter Guber (the Golden State Warriors co-owner who is also the chairman and chief executive of Mandalay Entertainment, which is invested in the successful Dayton Dragons minor-league team); Stan Kasten (former Washington Nationals and Atlanta Braves president), Bobby Patton (oil and gas investor), and Todd Boehly (president of Guggenheim Partners ) as other key investors.
A look at the final contenders in the mix to buy the Dodgers and the chances of each succeeding
That which does not kill us makes us stronger. – Friedrich Nietzsche
Who knows how many fans of the Los Angeles Dodgers prescribe to Nietzsche’s well-worn quote, but it’s a fervent prayer for baseball and certainly for many who are watching the bankruptcy sale of the club. The Dodgers are more than just some random club; they are a cornerstone of the league’s history.
Thank the Winter Meetings for encouraging all of Major League Baseball to forget the age-old maxim, "loose lips sink ships."
"We have sent a formal offer to Matsuzaka and his agent Scott Boras. I believe it is fair and comprehensive, and offers a great deal of security and a substantial level of compensation."
--Red Sox executive Larry Lucchino
Maury sits down with the President of the Washington Nationals to talk about their new ballpark, organizational philosophy, and rebuilding the team from the ground up.
At the beginning of May, I interviewed Kasten just two days after the club was awarded to the ownership group headed by developer Ted Lerner. That interview, for Business of Baseball, covered how Kasten's relationship in the past with the Lerners made for an easy transition into the group, whether the formation of the Red Sox ownership group in 2002 had any bearing on the Nationals' ownership creation (Selig moving individuals from the groups around to get a "super group"), and what Kasten learned in the development of Turner Field that can be applied to the new Nationals stadium.