Dodgers president Stan Kasten wants to make it clear that majority owner Mark Walter will not sell the team.
Following Walter’s decision to sell his majority stake in the Lakers, questions about his majority ownership of the Dodgers were raised amid his company’s financial difficulties, which include a federal probe of his businesses. But Kasten said it will have no effect on Walter’s majority ownership of the Dodgers.
“The Dodgers are not being sold,” Kasten said. “They’re not going to be sold. They’re not for sale. There’s no process that has been started to sell [the franchise]. Period. … I just wanted this to be clear because this question keeps coming up. I understand the questions; I do. The Lakers thing was what we call sui generis, one of those one-of-a-kind things. Really has nothing to do with what’s happening with [the Dodgers] or the other teams.
“I wanted you to hear it definitively: We are not selling the Dodgers. We are continuing with our plans going forward, like we always have had them. This comes from Mark. He’s gung-ho about continuing to try to win, again, including next year, subject to whatever next year’s climate looks like.”
Kasten added that he doesn’t expect the Dodgers’ operations to be interrupted, describing the franchise as “very stable, well-managed, and [with] very solid ownership.”
“I know nothing involving the Dodgers is part of the investigation,” Kasten said. “I’m promising you, when it’s over, you’re going to realize [things] are being mischaracterized. You don’t have to trust me, but I’m telling you.”
When Kasten was asked about reports Walter is trying to sell his stake in English Premier League team Chelsea FC and tried to cash out of lucrative TV deals with Charter Communications, he said they were mischaracterized.
“Those things don’t go together for a bunch of reasons I’m not going to get into today,” Kasten said.
Kasten took a similar tone when asked about reports of Walter having to repay insurance companies.
“I’m not in that part of the investigation,” Kasten said. “Things are going on behind the scenes, obviously, in connection with that. I’m not privy to all of them, don’t need to know, don’t want to know. But one thing we are all certain about: the sports portfolio is going to remain intact.”
Walter has additional ownership stakes in the Sparks, the Cadillac Formula One team, the Professional Women’s Hockey League and the Billie Jean King Cup tennis event.
“I can tell you from the guy running the team, knowing how the business runs and what it can support in terms of revenues and expenses — the Dodgers aren’t going anywhere,” Kasten said. “I feel that very strongly, and Mark feels even stronger than I do. I’m 74. I don’t know how long I’m going to be running it, but Mark, I think, is going to be running it a lot longer.
“I think Mark has done an extraordinary job as an owner, and all he’s ever cared about is providing the best experience in order to make us more money, to make this project successful,” Kasten added. “I think so far it has been; I expect that to continue far into the future.”
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