mark walter

Memo to Mark Walter:

Check your swing.

Now that you’re the majority owner of the Lakers, everyone is expecting you to whack their two most prominent leaders in hopes of transforming the basketball team into your baseball team, but you should instead initially act in terms your Dodgers would understand.

Take a pitch.

Keep Rob Pelinka and JJ Redick in their jobs … for now.

Agreed, this might be a tough call, and certainly there could be temptation to immediately can the two Lakers employees who most epitomize the incestuous decisions that have dragged the once-shining championship organization into dull mediocrity.

Pelinka, the president of basketball operations and general manager, was hired eight years ago because he was the agent and confidant of Kobe Bryant.

Redick, the head coach, was hired last summer because he was LeBron James’ podcast bro.

Neither man came to their current positions with strong qualifications. Both men were beneficiaries of a post-Jerry Buss culture in which daughter Jeanie would surround herself with friends and family.

It is a culture that led to outsized decision-making roles for the likes of Linda and Kurt Rambis. It is a culture that is diametrically opposed to the meritocracy that has made this town’s other glamour team so great.

Now that the Dodgers have basically swallowed the Lakers whole, it might be a foregone conclusion that Pelinka and Redick would be among the first to disappear.

Memo to Mark Walter:

Mark Walter, the controlling owner of the Dodgers, recently became a majority stakeholder in the Lakers.

(Emma McIntyre / Getty Images)

Hold up rounding third.

Both Pelinka and Redick have earned a chance to show their strengths in a new system in which there will certainly be increased scouting, advanced analytics and a new professionalism for an infrastructure that had been difficult for any official to succeed.

Ned Colletti was the Dodgers’ general manager when Walter’s group bought the team in the spring of 2012. He lasted two more seasons, Guggenheim Partners pouring money into the team and giving him every chance to succeed before firing him.

Pelinka deserves at least half that chance.

Don Mattingly was the manager when Walter bought the team. He lasted four more seasons, finally parting ways after the 2015 season.

Redick deserves at least a portion of that leash.

Although both men have been viewed as overmatched both in this space and by NBA insiders across the landscape, each has done well enough to not be summarily beheaded the minute Walter walks through the door.

Start with Pelinka. You do know he has an NBA championship on his resume, right? While Alex Caruso dismissed the 2020 title as phony last week after he won another ring with Oklahoma City, that first one still counts, and Pelinka still deserves credit for overseeing it.

Yes, Pelinka is the villain who ruined everything by letting Caruso walk while gutting the title team to acquire Russell Westbrook. But he’s also perhaps the only executive in NBA history to acquire three players the likes of LeBron James, Luka Doncic and Anthony Davis.

He had lots of help there — Magic Johnson recruited James, and James recruited Davis, and Nico Harrison handed him Doncic — but still, he was the final cog in making it happen.

Pelinka also engineered the splendid undrafted free agent signing that was Austin Reaves, which led to the Lakers finishing this season as the third seed in the West.

You don’t fire a decision-maker the same year his rebuilt team finishes third in basketball’s most competitive neighborhood. You don’t fire a decision-maker two years after his team reached the Western Conference finals. And you certainly don’t fire a decision-maker until you know what’s happening with his best employee.

It seems clear that James is going to opt in to his $52.6 million contract this week and remain with the team — and son Bronny — for at least one more season. If that’s the case, then Pelinka should get the chance to add the rim protector he’s been seeking to maximize Doncic and give James one more opportunity at a ring.

However, if James unexpectedly turns down the money to seek better title opportunities elsewhere — not a bad decision for the Lakers, honestly — then the ensuing roster chaos will not be the right time to make a change at the top.

Either way, the situation is fluid enough that Pelinka should be allowed to see it through.

The same goes for Redick, who did an admirable job in his first regular season before melting down in the playoffs.

Granted, some would consider his first-round series game management against the Minnesota Timberwolves a fireable offense, particularly in Game 4 when he used the same five players for an entire second half. He didn’t do himself any favors when he later reacted to criticism of that decision by bristling at a reporter’s question before stalking away from a pregame news conference.

During the most important moments of the season, Redick was in over his head. But as he admitted, he’ll learn, he’ll grow, he’ll get better, and he did well enough during the regular season to believe him.

Redick coached one team before the arrival of Doncic and the departure of Davis. He coached another team afterward. He deftly handled both of those teams while smartly disarming the potentially divisive distraction that was Bronny. Redick also empowered Reaves to become a legitimate third threat before Reaves joined his coach in a playoff disappearing act.

All of which brings this surprisingly sugary piece to this upcoming week, the start of the NBA’s summer madness, and the pressure is on.

Like it or not, Pelinka and Redick are a pair now, a tandem joined by the appearance of a new owner with new expectations.

Pelinka needs to find a big man who can help carry them deep into the playoffs. No matter who Pelinka acquires, Redick has to scheme around Doncic and make it all work.

They won’t get many chances under a new Dodger regime that demands sustained success, but they deserve at least one chance to take advantage of the massive changes that this new ownership group will surely create in returning basketball’s greatest franchise to new glories.

Memo to Mark Walter:

Keep Pelinka‘s and Redick’s names in the lineup card.

In pencil.

Dodgers controlling owner Mark Walter, through his TWG Global company, agreed to purchase a majority ownership stake in the Lakers last week and released information about the sale on Wednesday in a statement announcing the deal would be completed later this year.

When news broke that Walter would take controlling interest of the Lakers from the Buss family at a valuation of $10 billion, we reached out to Magic Johnson about his thoughts on the matter. Speaking from a yacht off the coast of Croatia, here’s what the Lakers legend had to say about Walter, Jeanie Buss and the sale:

About Walter’s approach

“Mark is a man who cares and loves winning and will always care about investing the money in making not only the team better but the organization better. He’s somebody who is family-driven. He’s a great man.

“You saw what happened to the Dodgers once Mark and all of us took over.”

On the Buss family selling to Walter

“One thing that Jeanie [Buss] was going to do is put [the franchise] in the right hands. If she was going to sell, it had to be the right person, and Mark Walter is the right person to take over and lead us for the next 30, 40 years. So, this is the best news that could have happened for all Laker fans across the world. Mark has had his eye on the Lakers for a long time. That’s why he bought [Philip] Anschutz’s [minority ownership] piece first and then he was sitting there, and Jeanie knew this.

“If she ever wanted to sell, he wanted to be the one that bought the team. And they formed a friendship, because that had to happen first. Jeanie had to know that he was going to do just like her father [Dr. Jerry Buss] did and just like she did and that was to make sure that he would do great things in the community as well, like both her father and her have been able to do and also educate him on how much the Lakers mean to not only the Laker fans but to the NBA and to the world.”

On the sale of the team

“I think the [Buss] boys were ready before. I think they wanted to cash out. We’re seeing this happening all around sports. ‘Sometimes, let somebody else have it.’ We saw Mark Cuban do it. Boston did it. So, you are seeing it happen and maybe they [Buss family] said, ‘We just want the money and go on and live out our lives.’”

“Mark loves being a part of Los Angeles and now he’s got the premier baseball team and now the premier basketball team.”

On Walter’s success

“The one thing great about Mark is that he’ll hire the best people. He will always have really good people around him to help him bring back championships to Los Angeles and to Lakers fans. I’m excited. This couldn’t have gone any better for Laker fans and the Buss family and the NBA. The NBA knows Mark. It couldn’t have gone better for the Buss family because Mark is a caretaker. You got to be a caretaker, a great caretaker.

“What did Mark do for the Dodgers? He’s been a great caretaker of the brand and of the team. How much money he put into Dodger Stadium. He’s always willing to make the big and bold moves to win. But Mark is a visionary. So, he’s probably already got a vision for the Laker organization and for the team. So, that’s the great thing about him.

“The funny thing is, his personality is just like Jeanie. You won’t see him out front a lot, just like now he’s not out in front of the Dodgers. So, people need to understand that. That’s not his personality. Just like Jeanie’s personality. She hasn’t been out front.”

About Jeanie Buss and the sale

“You saw Mark let Jeanie stay on the Board of Governors. That was smart. One thing that is smart about Jeanie is she was never going to say, ‘Oh, the Lakers are up for sale! Anybody can own them.’ That’s not who she is. She wasn’t going to put it in anybody’s hands.

“And I think because of the success of the Dodgers and how he has run the organization, now it’s easy for the fans. We already know him. We’ve seen his work already. We’ve seen what he’s been able to do, led us to a couple of World Series [wins] and going to the World Series four times. That’s success right there. That’s what Laker fans are looking for.

“He’s got a track record. This is what Laker fans would want, somebody that they can trust, just like they trusted Dr. Buss. They trusted Jeanie because of her father saying, ‘This is who I want in charge.’ So, this is beautiful for all Laker fans.”

Upon hearing the news

“I’m going crazy too. I was screaming all over this yacht, because I know how great Mark is and how great of a man he is and how smart he is. He’s got a big heart.”

Once upon a time, sports fans wanted freedom of choice. Why pay for dozens — or perhaps hundreds — of television channels when all you wanted to do was to see your favorite teams play?

The cable era is in its sunset. Streaming is all the rage. No longer need you pay for channels that feature news, movies, cooking and gardening in order to watch the home team.

For sports fans, this has become an expensive mess, too.

The Dodgers require one subscription. The Lakers require another. The Angels, Kings and Clippers require another. The Galaxy and LAFC require another. The Ducks require another — although theirs is free for now.

Truth be told, the Dodgers and Lakers run L.A. The most valuable sports broadcasting property in town could be one that carries the Dodgers and Lakers.

For many fans in Los Angeles, that might represent freedom of choice: the one and only must-have sports subscription.

Could that future — one broadcast channel and one streaming app for the Dodgers and Lakers — become reality now that Mark Walter, the controlling owner of the Dodgers, is the new controlling owner of the Lakers? Walter hasn’t yet talked publicly about the Lakers deal, so we floated the idea by sports business insiders.

The Lakers are on Spectrum SportsNet. The Dodgers are on SportsNet LA. Who owns those channels?

Charter Communications, the parent company of Spectrum, owns SportsNet. The Dodgers, through an affiliated company, own SportsNet LA, although Charter operates it and pays the team a rights fee every year, just as it does with the Lakers.

Can Charter walk away from the Lakers deal because of the ownership change?

No.

Could Walter buy out Charter and put the Dodgers and Lakers on the same channel?

In theory, yes. Charter probably would give him the Lakers’ channel for free.

In reality? That appears unlikely any time soon. Walter didn’t get to be a billionaire by turning down half a billion dollars every year.

Go on.

When Charter’s predecessor, Time Warner Cable, launched the channels for the Lakers in 2012 and the Dodgers in 2014, cable and satellite channels were the way most fans watched their home teams. And, because cable and satellite packages required subscribers to pay for 100 channels even if they only watched five, those cooking and gardening enthusiasts helped enrich all those teams.

Fast forward to today: Nielsen reported that in May — for the first time — more Americans watched television via streaming than via broadcast and cable combined. This so-called “cord cutting” has turned the ownership of most sports channels from an asset to a liability, and many operators have either gone out of business or forced teams to take nine-figure hits to their rights fees.

What does this have to do with whether I can watch the Dodgers and Lakers on one channel?

The Dodgers’ channel and the Lakers’ channel each lose money. Walter would choose between acquiring a money-losing Lakers channel or keeping intact the two Charter deals that pay the Dodgers and Lakers more than $500 million combined each year. No team in baseball makes as much money from local television as the Dodgers, and no team in basketball makes as much money from local television as the Lakers.

The Lakers’ deal runs through 2032. The Dodgers’ deal runs through 2038.

Why are those dates important?

While other teams are experimenting with various combinations of cable, satellite, streaming and even free TV, the Lakers and Dodgers can cash in on guaranteed income and let those other teams be the guinea pigs for learning what works and what does not work in the new media world.

Major League Baseball would like to sell a national streaming package in 2028 — one spot to watch your team from wherever you are, with no blackouts — and the NBA figures to explore that option, too. That gives the Dodgers and Lakers a fairly long runway to see what might be best for them, including whether to retain their streaming rights or contribute them to a league package — and what they would require in order to do so.

Might a joint Dodgers-Lakers channel be a long-term solution?

It could be. With the NBA joining MLB in making postseason broadcasts entirely national, the calendar would align nicely: April to September for the Dodgers, October to April for the Lakers. Behind the scenes, one staff could largely replace two.

The time for the single-team sports channel has come and largely gone. The economics are poor, and the enthusiasm for 24-7, all-access coverage of one team has dissipated into the reality that most fans just want to watch the game.

How about Walter adding teams?

Nothing is impossible. Ted Leonsis, who owns the NHL’s Washington Capitals, NBA’s Washington Wizards and WNBA’s Washington Mystics, says the key to sports success could be an ownership bundle: own multiple teams, own the venues in which they play and own the platforms on which fans view their games.

Walter’s investments now include the Dodgers, Lakers and Sparks. SportsNet also airs the Sparks.

In 2012, Walter and his partners looked into buying AEG, which owns the Kings, the Galaxy and Crypto.comArena. AEG owner Philip Anschutz opted not to sell then, but Walter could renew that pursuit and, if successful, would control the two venues and four teams that call downtown L.A. home.

Dodgers controlling owner Mark Walter and Lakers president and controlling owner Jeanie Buss broke their silence Wednesday on a blockbuster deal that shocked many in and outside of the Los Angeles.

A news release issued by Walter’s team confirmed his acquisition of majority ownership stake of the Lakers, with the transaction expected to close in the third or fourth quarter of this year.

During the sale talks, the valuation of the Lakers was placed at $10 billion, a record for a professional sports team, people with knowledge of the deal not authorized to discuss it publicly told The Times. ESPN reported it is possible the value could swell to $12 billion before the transaction is complete.

Buss, whose family has had control of the Lakers for 46 years, will remain governor of the team and “continue to oversee all team operations on a day-to-day basis for the foreseeable future,” the statement confirmed.

Walter and Todd Boehly — a partner in the Dodgers ownership group — became the Lakers’ largest minority shareholders in 2021 when they bought 27% of the franchise, a stake previously held by Phil Anschutz.

Jerry Buss, Jeanie Buss’ father, bought the team for $67.5 million in 1979 in a deal that included the Los Angeles Kings and the Forum in Inglewood. Buss sold the Kings to Bruce McNall in 1988.

“The Buss family is deeply honored to have looked after this incredible organization for almost half a century,” Jeanie Buss said in the statement. “From the day our father purchased the Lakers, we have been determined to deliver what the City of Los Angeles deserves and demands: a team that is committed to winning — relentlessly — and to doing so with passion and with style.”

Buss said she felt confident Walter would lead the franchise to success. During his tenure, the Dodgers signed a collection of stars headlined by two-way wonder Shohei Ohtani. The team won the World Series last year, their second championship and fourth World Series appearance in the last eight years.

“I have gotten to know Mark very well over time and been delighted to learn how he shares those same values,” Buss said. “For the last four years, Mark has been an excellent partner to us, and we are thrilled to keep working with him to continue the Lakers’ extraordinary legacy.”

Walter, the chairman and CEO of TWG Global, has ownership stakes in the Dodgers, the WNBA’s Sparks, the Billie Jean King Cup, the Cadillac Formula 1 Team and the Professional Women’s Hockey League.

He said the Lakers “have long been one of the most iconic franchises in sports.”

“Since Dr. Jerry Buss first purchased the team in 1979, they have truly set the standard for basketball in one era after another, which is why you can find people anywhere in the world wearing Lakers shirts and jerseys,” Walter said.

Control of the Lakers went into a family trust after Buss died in 2013, with daughter Jeanie Buss operating as the team’s governor. The structure of the trust meant the majority of Buss’ six children — Johnny, Jim, Jeanie, Janie, Joey and Jesse — had to agree to the deal for a sale to occur.

The structure of the family trust, according to people familiar with it, doesn’t allow for ownership to pass down to heirs after death, meaning the split among the siblings would go from being shared six ways down to five and so on.

“I admire what [Jerry Buss,] Jeanie and the Buss family have built, and I know how much this special organization matters to Southern Californians and to sports fans everywhere,” Walter said. “I also have tremendous respect for Jeanie’s continued commitment to maintaining the Lakers’ long-term vision and elite status, and I’m excited to work with her on the next era.”

Los Angeles Times owner Dr. Patrick Soon-Shiong continues to hold a minority owner share of the Lakers.

The agreement for the sale of the Lakers came about three months after Bill Chisholm agreed to buy the Boston Celtics with an initial valuation of $6.1 billion — which was going to be a record, topping the previous mark of $6.05 billion sale for the NFL’s Washington Commanders.

The Lakers transaction was viewed as a massive surprise in NBA circles.

The Celtics’ sale is not yet finalized, pending final approval by the NBA’s board of governors.

The Lakers, led on the court by stars LeBron James and Luka Doncic, are preparing to start their 78th season later this year. The team has reached the postseason 65 times in franchise history, including 32 trips to the NBA finals and 17 championships.

The Associated Press’ Tim Reynolds contributed to this report.

When Walter’s Guggenheim Baseball group bought the Dodgers in 2012, the once-proud franchise was mired in embarrassment and mediocrity.

Under Frank McCourt’s ownership, the team was in bankruptcy. It had not fielded a top-10 MLB payroll three years running. And it had only won the National League West three times since the turn of the century, seemingly miles away from ending what was already by then a decades-long World Series drought.

But then came Guggenheim — making huge infusions of cash, followed by a sudden return to contention.

Since 2013, the Dodgers have exceeded MLB’s luxury tax threshold (the closest thing baseball has to a soft salary cap) eight times and topped the league in spending seven times.

They’ve splurged repeatedly on star talent, from lucrative extensions for Clayton Kershaw, Andre Ethier and Kenley Jansen; to blockbuster acquisitions of Adrián González, Hanley Ramírez and Zack Greinke; to the more recently transformative arrivals of Mookie Betts, Freddie Freeman and Shohei Ohtani.

And in that span, they’ve never once missed the playoffs, won their division 11 of the past 12 seasons, and reached the World Series on four occasions — finally breaking through with championships in 2020 and 2024.

“He wants to win,” Roberts said of Walter. “He feels that the fans, the city deserves that.”

Walter’s Guggenheim group has made major outlays beyond the roster as well. They invested in what has become one of the most renowned farm systems in the sport. They have built a robust analytics department in the front office. They’ve made multiple major renovations to Dodger Stadium, upgrading fan areas and the players’ clubhouse facility.

There have been moments when the team has shown financial constraint, most notably when it strategically stayed under the luxury tax in 2018 and 2019 — to the chagrin of some fans at the time.

But in the past two offseasons, the Dodgers have spared almost no expense, this year becoming the first team in MLB history to boast a $400 million luxury tax payroll.

“The commitment from our ownership group from the minute I got here has been incredible,” president of baseball operations Andrew Friedman said this offseason. “It has always been, ‘Hey let’s push. Let’s go. Lets’ get better.’”

The Buss family’s decision to sell its majority stake in the Lakers to Dodgers controlling owner Mark Walter sent shockwaves through L.A. on Wednesday.

Dodgers manager Dave Roberts was among those surprised by the development. Speaking to reporters before his team’s game against the San Diego Padres at Dodger Stadium, Roberts shared his thoughts on what Walter could bring to the Lakers.

Question: What’s your reaction to the deal?

“Obviously he’s had some kind of stake the last few years or whatever. He’s really committed to the city of Los Angeles in various ways. Sports is something that he’s very passionate about, and certainly Los Angeles sports. I think it’s a very exciting day for the Lakers, for the city of Los Angeles. And I think speaking from [the perspective of] a Dodger employee, he’s very competitive. He’s going to do everything he can to produce a championship-caliber team every single year and make sure the city feels proud of the Lakers and the legacy that they’ve already built with the Buss family.”

Dodgers manager Dave Roberts smiles before a game against the Texas Rangers in April.

(Julio Cortez / Associated Press)

When did you learn that about him?

“I would say probably seven, eight, nine years ago, just having a conversation with him as far as how much he enjoyed spending time in Los Angeles, and a lot of low-hanging fruit in the sense of what this city could be, already is, and can be. He wanted to infuse kind of his intelligence, his resources. He just wanted more skin in the game. That’s just speaking for him. But he’s obviously a very smart person.”

How have you seen him be competitive

“I think he does everything he can to provide resources, support. He wants to win. He feels that the fans, the city, deserves that. I think that’s never lost. It’s more challenging us always to, how do we become better and not complacent or stagnant to continue to stay current with the market and the competition to win not only now but for as far as we can see out.”

What makes a good owner?

“I think a good owner in my eyes is a person that lets the people that he hires do their jobs. He does a great job of letting Stan and Andrew and Gomer, all those guys, Lon, do their jobs right. But also kind of holding us all accountable, and also providing resources needed. In this case, players, to field a team that’s warranted of a championship-caliber team every year. Also, doing stuff for charity and appreciating not only the baseball side but just as important, the business side. He invests a lot of resources in that as well. I think that that’s kind of all-encompassing of what I’ve been fortunate to be around.”

Does this mean you’re sitting courtside?

“Yes. (Laughter). I’m sure a lot of people are hitting Mark up, but I might add myself to the list.”

The Los Angeles Lakers, a family-run business since Jerry Buss purchased the franchise in 1979, will be sold to Dodgers controlling owner Mark Walter and TWG Global, according to multiple people briefed on the deal.

The deal is expected to occur with the Lakers’ valuation being about $10 billion — a record for a professional sports franchise.

Walter will now lead the city’s two premier professional sports teams.

Control of the Lakers went into a family trust after Buss died in 2013, with daughter Jeanie Buss operating as the team’s governor. The structure of the trust meant the majority of Buss’ six children — Johnny, Jim, Jeanie, Janie, Joey and Jess — would need to agree for a sale to occur.

The Lakers didn’t respond to requests for comment.

The sale was viewed as a massive surprise in NBA circles.

Jeanie Buss reportedly will remain _{governor under the terms of the sale. All controlling governors representing teams in league meetings need to own at least 15% of the franchise to serve. The Buss family owned 66%.}

The sale will end family-run control of the Lakers, who have achieved incredible success — 11 NBA championships earned by some of the league’s most iconic figures, including Kareem Abdul-Jabbar, Magic Johnson, Shaquille O’Neal, Kobe Bryant and LeBron James — under Buss and his children’s leadership.

“I know that my sister Jeanie would have only considered selling the Lakers organization to someone she knows and trusts would carry on the Buss legacy, started by her father Dr. Buss. Now she can comfortably pass the baton to Mark Walter, with whom she has a real friendship and can trust,” Magic Johnson wrote in a post on X.

“She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organization, and fans! Both are extremely intelligent, visionaries, great leaders, and have positively impacted the greater Los Angeles community! I love both my sister @JeanieBuss and my business partner Mark Walter.”

In March, Bill Chisholm purchased the Boston Celtics from Wyc Grousbeck for $6.1 billion. Mark Cuban sold his control of the Dallas Mavericks late in 2023 for $3.5 billion.

And earlier that year, Marc Lasry sold the Milwaukee Bucks for $3.5 billion. Grousbeck and Cuban were two of Jeanie Buss’ closest confidantes among league ownership.

Walter and Todd Boehly became the Lakers’ largest minority shareholders in 2021 when they bought 27% of the franchise — a stake previously held by Phil Anschutz.

“The Los Angeles Lakers are one of the most successful and admired franchises in sports history,” Walter said in a news release at the time. “I have watched the organization grow under Jeanie’s leadership and couldn’t be more excited to partner with her and the entire management team. I am committed to supporting the franchise’s iconic status by continuing to bring together culture, community and entertainment to Lakers’ fans.”

Walter was a relatively anonymous billionaire in 2012, when Johnson and Stan Kasten were the marquee partners in the purchase of of the Dodgers for $2 billion, then the largest price paid for a Major League Baseball team.

Critics scoffed at the purchase price, but Walter and Boehly then negotiated a record $8.35-billion local television deal with Time Warner Cable. Sportico this year valued the Dodgers at $7.73 billion and estimated that they generated $1 billion in revenue last year, highlighted by the global economic boost they gained from signing Shohei Ohtani to a record $700-million contract.

The Dodgers also won the World Series last year, their second championship and fourth World Series appearance in the last eight years. In the 13 seasons since Walter and his group bought the Dodgers, the team has posted a winning record every year. In that same 13-season span, the Lakers have one championship, one NBA Finals appearance and six winning records.

After buying the Dodgers, Walter and Boehly explored buying AEG, the entertainment giant that owns the Kings and Crypto.com Arena. Walter subsequently bought the Sparks, invested in the Lakers and launched a professional women’s hockey league in which the championship trophy is called the Walter Cup.

If the Dodgers’ purchase is any indication, Walter might not make an immediate flurry of changes with the Lakers. After he bought the Dodgers, he retained general manager Ned Colletti through the 2014 season before replacing him with Andrew Friedman.

The beloved O’Malley family sold the Dodgers before the turn of the century, saying the economics of professional sports had exploded beyond the means of families with no other significant source of income.

Under Walter, the Dodgers have not only raised their payroll to record levels but invested heavily in areas that they believe help deliver a winner, from a vaunted analytics department to dietitians for their major and minor league players and expanded clubhouses with the latest in hydrotherapy. The owners also have invested more than $500 million into renovating Dodger Stadium, adding modern amenities to a 63-year-old ballpark.

The Lakers, whose minority owners include Los Angeles Times owner Dr. Patrick Soon-Shiong, are entering a critical moment in the franchise’s history. James, the NBA’s all-time leading scorer, has a $53-million player option that he needs to either accept or decline by June 29. If he declines, he’d be an unrestricted free agent.

The team also is trying to sign Luka Doncic, who it acquired in a shocking trade last February, to a massive contract extension functionally making him the future face of the franchise. He’s eligible to sign an extension on Aug. 2.

Times staff writer Jack Harris contributed to this report.