In 2012, on the day after Mark Walter and his partners bought the Dodgers, I sat next to Walter in a conference room. To the sports fan, Walter was virtually anonymous: a super rich guy who had made his money running investment and insurance companies.
Walter’s purchase valued the Dodgers and its related assets at a then-record $2.15 billion. That value stunned the sports world. Mark Cuban had bowed out of the bidding, believing the Dodgers were not worth even $1 billion.
I asked Walter why he believed it made business sense to pay three times as much as any major league team had sold for.
“I think you have a few moments in life where you have the opportunity to own an asset and really be a custodian of something that should be multigenerational and iconic,” he said then. “I understand it’s a lot of money. But it’s not as if you can go buy another one tomorrow. … We hope we never, ever are going to sell it.”
That was essentially the point that someone who travels within the inner circles of pro sports made to me Wednesday morning, as news broke that Walter had sold the Lakers to Bob Iger, the former Disney chief, and Joshua Kushner.
The Steinbrenner family has owned the New York Yankees for 53 years. Jerry Jones has owned the Dallas Cowboys for 37 years. The Buss family owned the Lakers for 46 years.
These trophy assets are few and far between. Walter had agreed to sell the Lakers after less than one year of ownership — and not through a comprehensive bidding process, but to an inquiring caller during the weekend?
“This has more red flags than a May Day parade,” an industry insider said, speaking on condition of anonymity so as not to jeopardize his professional relationships.
The deal, which valued the Lakers at $12.5 billion, was motivated by the spiraling price for an NBA expansion team in Las Vegas, according to ESPN’s Ramona Shelburne. After all, if Iger and Kushner might have to pay $10 billion for a startup team, why not call and see if Walter might accept a bit more for one of the marquee franchises in American sports?
Was this a blind call or was Walter looking to sell?
“It was suggested to us that maybe Mark Walter would be interested in selling his stake in the Lakers,” Iger told the California Post.
What did Dodgers president Stan Kasten have to say about that?
“I never knew that. He never said that to me,” Kasten said. “I think he was surprised by it. That’s what he has expressed to me. Mark had no plan to do this. This just came up, and he thought about it and said yes.”
Why might Walter have been interested in selling?
Mark Walter acknowledges a fan before a game against the Cubs in Chicago this month.
(Melissa Tamez / Associated Press)
Only he can say for sure, but his companies are under federal investigation for failing to disclose and properly account for billions of dollars of loans among related entities. Bloomberg reported Wednesday that Walter’s holding company is trying to raise money that could help pay off or at least pay down those loans, and the Financial Times reported that company assets could be sold or restructured.
No charges have been filed, and investigations can conclude without charges. No allegations of wrongdoing have been made against Walter.
Is there a baseball angle to this?
Among the investment firms Walter’s holding company approached about “deals to raise cash,” according to Bloomberg: the asset management firm owned by New York Mets owner Steve Cohen.
Cohen’s firm passed, according to the Financial Times.
When Walter and his partners bought the Dodgers, the runners-up: the bid team of Cohen and Los Angeles Times owner Patrick Soon-Shiong.
“No, that never came up. And Mark and I discussed it,” Kasten said. “So, no, we don’t have any reason to think that. I certainly have no reason to think that.”
What does Walter’s sale of the Lakers mean for the Dodgers?
“It means nothing for the Dodgers,” someone who speaks regularly with Walter said, speaking on condition of anonymity. “He owned them long before the Lakers and will own them long after.”
If Walter should later sell the Dodgers, what might have the greatest impact on the team?
Shohei Ohtani has an out clause in his contract if Mark Walter sells the team.
(Eric Thayer / Los Angeles Times)
Shohei Ohtani’s 10-year, $700-million contract with the Dodgers includes an unusual escape clause: If Walter is no longer the controlling owner, or if Andrew Friedman is no longer running the Dodgers’ baseball operations department, Ohtani can opt out of the contract.
Would he?
Way too soon to tell. If major league owners get their way in collective bargaining, the proposed salary cap would mean Ohtani at $70 million could eat up just about one-third of any team’s payroll. And, in his third year with the Dodgers, he has yet to complete a full season as a pitcher, and a left knee in which manager Dave Roberts says Ohtani suffers from “wear and tear” could make him less of a two-way player as the contract winds down.
On the other hand, playing salary might be less of an issue for him than for any other player in baseball. Ohtani is making more than his annual salary from sponsorships and endorsements — an estimated $125 million this year — and he famously deferred $68 million of each year’s salary so the Dodgers could spend more freely on players that could help him and the team win. After six losing years with the Angels and two World Series championships in two years with the Dodgers, a losing team might not entice Ohtani, no matter how much room it might have under a proposed cap.
Iger used to run Disney. How did Disney’s experience owning the Angels and Mighty Ducks go?
Disney chairman Michael Eisner, left, NHL commissioner Gary Bettman, NHL chairman Bruce McNall and Mighty Ducks chairman Jack Lindquist blow duck calls announcing the name of the team in 1993.
(Doug Pizac / Associated Press)
Disney dressed the Angels in uniforms derided by one player as “pinstripe pajamas,” put cheerleaders on the dugout roof and installed a loud “countdown to first pitch.” This all seemed awful at the time but, given the plagues of in-game hosts and teams sporting jerseys in colors far beyond home white and road gray, perhaps Disney was just ahead of its time. And, for the first few years of the franchise, Mighty Ducks gear was some of the hottest merchandise in American sports.
Ultimately, Disney wanted the Angels and Mighty Ducks to launch an “ESPN West” regional sports channel. When that channel collapsed, Disney no longer needed the teams and eventually sold them. The Angels were such a minimal part of Disney’s portfolio that then-chief executive Michael Eisner showed up in the clubhouse and the players had no idea who he was.
Who owned the Angels when they won their only World Series championship?
Angels players wave to fans during the World Series title parade in Anaheim in 2002.
One more try: Why did Walter really sell the Lakers?
“I think it was opportunistic and he found something that made sense to him,” Kasten said. “Mark’s a very sensible guy. But that’s really the only way I can explain it.
“You’ll have to talk to Mark about a more in-depth explanation, and good luck.”
Times staff writer Maddie Lee contributed to this report.
John Hannah made an awkward quip about his pay for the new Channel 5 crime drama Benidorm Is Murder
Alex Jones and Vernon Kay was speechless over John’s comments(Image: BBC)
A famous British actor has made a cheeky swipe about the pay he received for his upcoming Channel 5 drama.
During the latest episode of The One Show, BBC viewers saw Alex Jones and Vernon Kay speak to Scottish star John Hannah about his new comedy drama, Benidorm Is Murder.
The six-part Channel 5 series, which will air on July 30, follows the life of a retired detective who moved to Spain to run a bar. However, he quickly finds himself solving murders in Spain alongside Rosa (Carolina Bécquer), a barmaid who loves true crime.
When speaking about filming the series, the actor didn’t hold back on letting the presenters know his thoughts on the pay for the show.
Touching on some of the guest stars in the show in the third episode, John commented: “A bunch of Irish actors turned up, and they all knew each other a bit.”
He went on to say it was a “good script” and “two weeks in the sun” and that there was “great chemistry” present.
He continued: “Simon and I were talking at the end of that episode, we were like, ‘Wow, they’ve set the bar really high. There’s something about a good script, a bit of sunshine, regardless of the pay… which wasn’t the best, but anyway it doesn’t matter.”
The studio erupted in laughter as a surprised Vernon could be heard reminding John that they were broadcasting live, reports the Express.
He added: “I mean no disrespect, but it was Channel 5, you know.”
Actress Diane Morgan, who was on hand to promote her upcoming BBC programme Ann Droid, then waded in advising him “not to ge into money”.
He fired back: “No, let’s not because we’re not doing it for the money, right? Of course not. It was brilliant, everyone came out. We were all getting paid….a bit.”
Channel 5 has been approached for comment.
Benidorm Is Murder will feature a plethora of guest celebrities including the likes of Denise Welch, Alistair McGowan and Tamzin Outhwaite.
Praising the show in the past, John added: “Benidorm is Murder is a gem of a show, filled with joy and humour, but there’s a balance of comedy and serious emotional weight to the stories, which is testament to the writing. We have a such a brilliant cast on this, everyone is pitch perfect for their roles, and I can’t wait for viewers to meet Carolina who was born to play Rosa.”
The One Show continues weeknights on BBC One from 7pm. Benidorm is Murder airs Thursday 30th July on Channel 5 from 9pm.
The Dodgers won the World Series last year, and the year before that. Their lead is the largest in any division this year. That success, and the money that nourishes it, has battalions of fans beyond Los Angeles all but marching outside ballparks with picket signs reading “SALARY CAP NOW.”
It’s a reasonable thought: The Dodgers can’t possibly keep winning if they can’t keep outspending the competition.
Or can they?
“There are a lot of little things that happen behind the scenes that people don’t see,” pitcher Will Klein said. “I understand where people are coming from. It’s easy to be a fan of a smaller team and get mad at other teams outspending you.
“But I think there’s a level of care here, and wanting to win, that exceeds other groups.”
The obvious disclaimer: Any team would be better with Shohei Ohtani and Freddie Freeman and Mookie Betts and Yoshinobu Yamamoto, at a combined price of $1.6 billion. The counter argument: The Angels had Ohtani and Mike Trout and, well, you know.
It takes a roster. In Klein and pitcher Eric Lauer, the Dodgers have done something they do well besides spend: develop valuable contributors out of players discarded by other teams.
The Dodgers grabbed Lauer last month, desperate to fill a hole in their starting rotation. The Toronto Blue Jays had cut him, and he would be joining his seventh major league organization. The logical thought: The Dodgers had found a healthy arm to eat up some innings until they could find someone better.
That still might happen. But Lauer, who is set to pitch Monday, has put up a 3.22 earned-run average in four starts with the Dodgers. Four starts is a small sample size, but in that time, Lauer is a career league-average pitcher performing 28% above league average.
“They got me immediately,” Lauer said. “They figured me out right away, and they knew exactly what was going to help me.”
For Lauer, the changes affected his delivery, but the specifics were not as important as finding a kindred spirit in Connor McGuiness, the Dodgers’ assistant pitching coach.
“I’ve always had a really hard time explaining myself and what I do, because I think a little differently,” Lauer said.
“When I was with the Brewers, it was running joke that it was ‘the language of Lauer,’ because I would describe things so differently and feel things so differently that, if you weren’t close to me and you didn’t know how I operate, it was very hard to understand what I was trying to do.
“Connor just immediately got it. It was like he’s been speaking it forever.”
At one point in his career, Lauer said, he struggled to explain the sensation of catching his heel on the mound as he completed his delivery toward home plate.
“I would describe it as, ‘I was falling backwards and I would catch myself,’ and it’s a really weird concept to think somebody was falling backwards when it doesn’t look like you’re falling at all,” he said. “It looks like you’re just moving forward.
“So they were like, ‘That’s not what you’re doing’ and I was like, ‘That’s what I’m feeling.’ We have to make the connection between the feel and the real so that we can understand each other.”
“I have a hard time saying anybody has done a better or faster job of helping me than the Dodgers.”
— Eric Lauer, Dodgers pitcher, on his development with the team
Klein, who joined his fourth organization when the Dodgers acquired him in a minor league trade last June, is in his first full major league season. He has a 2.37 ERA, and his 0.7 wins above replacement is better than any Dodgers reliever besides veteran closer Tanner Scott.
Klein said other teams had made suggestions on how to improve his game, and with the Dodgers, he has added a sweeper and dumped a slider. But what he needed to do most was throw more strikes, trusting that his lively fastball and curve were good enough to beat the best players in the world.
In the minors, Klein issued 6.9 walks per nine innings. This season, he has issued 3.6 walks per nine innings.
The credit, he said, should be shared with the Dodgers’ mental skills coaches.
“It’s easy to see the guys in the batter’s box — especially when you come up watching baseball and being fans of these guys, it’s easy to see them being above yourself,” Klein said.
“But you’re on the mound with them, so you have to see that too. There’s a lot on the mental side that’s helped me here.”
Dodgers pitcher Will Klein delivers against the Tampa Bay Rays at Dodger Stadium on June 16.
(Eric Thayer / Los Angeles Times)
The Dodgers did not include Klein on their postseason roster for the first three rounds last year, but he said coaches at all levels — in the majors, at triple-A and at the Arizona training complex — never stopped checking in on him, during the season and throughout October.
“When you’re down there, they don’t forget about you up here,” he said. “That kind of commitment and care was levels above what I had experienced.”
When the Dodgers added him to the World Series roster, Klein saved the season, with four scoreless innings to close out an 18-inning victory in Game 3.
Lauer called the communication in the Dodgers’ organization “miles ahead” of any other organization in which he has played.
“The training room, the weight room, the coaching staff, the players to each other,” he said. “Every form of communication is so seamless. Everybody knows what’s going on all the time. There’s no gray area.
“It’s all: ‘This is the plan, this is what we want to happen, this is how we’re going to make it happen,’ instead of: ‘This is the plan, this is what we want to happen, figure out a way to make it happen.’”
Klein raved about how the Dodgers treat player families, and about a high-tech pitching machine so lifelike that he could see what it would be like to bat against him. Lauer reflected on his experience as a first-round pick turned journeyman who went to South Korea to revive his career.
“I have a hard time saying anybody has done a better or faster job of helping me than the Dodgers,” Lauer said.
What Lauer and Klein say substantially echoes what Dodgers president of baseball operations Andrew Friedman said at last year’s World Series about turning the team into a preferred destination for players, and not just because the team wins and spends.
“Communication, being honest, having a really strong player development group in place at the major-league level, and how you treat families and treat the players,” Friedman said then, “I think matters a lot in that.”
To be clear: There is no indication the players’ union is willing to consider, let alone approve, a salary cap.
But, if that were to happen, Klein believes the Dodgers would be just fine.
“Our owners want to win, so they want to get the best product on the field, so they go and spend money,” he said, “and then everyone is mad that they want to win.
“I think they’ll find ways to win more if they can’t spend as much money. Friedman was with the Rays when they weren’t spending as much money and still had success there.
“I think they’re just better at wanting to win than some other people.”
