We recently celebrated the ten-year anniversary of the Guggenheim Baseball Management group closing its $2.15 billion purchase of the Los Angeles Dodgers and Dodger Stadium from Frank McCourt.
The ownership group led by the CEO of Guggenheim Partners and current Dodgers’ Owner & Chairman, Mark Walter, LA icon Magic Johnson, CEO of Mandalay Entertainment, Peter Guber, businessman, Todd Boehly, investor, Bobby Patton, and team president Stan Kasten have successfully transformed the Dodgers into one of professional sports’ model franchises after a tumultuous nine years under McCourt that ultimately saw the storied franchise file for bankruptcy.
From top to bottom, the Dodgers have re-established themselves as a first-class organization after previous owner Frank McCourt drove the once-proud franchise into the ground after years of mismanaging the team’s funds, refusing to spend on key player acquisitions through free agency and trades, refusing to invest in international scouting, and tanking the farm system.