Supposedly a group of Koreans are interested in purchasing a small stake in the Dodgers. However there is no chance they would be purchasing a controlling interest.
According to an article from Bill Shaikin, the Dodgers are reportedly in discussions to sell a minority stake in the club to a group of Korean investors.
Apparently there is literally zero chance of the club’s new ownership surrendering control of the team to these new investors. However it does appear possible that they are in negotiations to sell a portion of the club to the Korean investors.
Shaikin reports that none of the Dodger’s five individual investors, (Mark Walter, Peter Guber, Todd Boehly, Bobby Patton, Magic Johnson) would sell their shares in the potential deal.
The Guggenheim group bought the Dodgers for a record 2.15 billion dollars in 2012 stemming from bankruptcy auction. According to the report, the minority stake funds could help the Guggenheim group to recoup some of that 2.15 billion that they paid for the club, and help go towards future capital for club operations.
A Korean newspaper called the Joongang Daily first reported the talks. The investment group is reportedly hoping to purchase 20% for 370 million dollars, and is said to value the Dodgers at 1.85 billion dollars. The Guggenheim group values the Dodgers at closer to 3 billion dollars.
Shaikin’s source described the talks as progressing, and MLB does allow foreign investors, however this still could be considered a long shot for a deal like to be completed.
Of course the Koreans love the Dodgers, and the club currently has a former professional Korean Baseball player on their roster, starting left handed pitcher Hyun-jin Ryu.
If the Dodgers do sell a minority share of the club, it would have to be approved by Major League Baseball first. The Dodgers are supposed to have the highest payroll in all of Baseball at around 263 million dollars next season. We’ll keep you updated as this interesting story develops.