Mar 30, 2026; Los Angeles, California, USA; Los Angeles Dodgers president Stan Kasten watches batting practice before the game against the Cleveland Guardians at Dodger Stadium. Mandatory Credit: Kirby Lee-Imagn Images
Mandatory Credit: Kirby Lee-Imagn Images
August 12, 2026, will go down in history as the beginning of a new era for the Los Angeles Lakers. Mark Walter sold the Lakers to Bob Iger and Josh Kushner for $12.5 billion. Walter is also the president of the Dodgers and is faced with speculation about potentially putting them up for sale.
However, Dodgers' President and CEO Stan Kasten refutes the notion that the sale of the Lakers will impact them, per SportsNet LA.
“This is a Lakers' story; it's not really a #Dodgers story,” Kasten said. “It really has nothing to do with the Dodgers. They're completely separate. There are no changes here, or contemplated here.”
"This is a Lakers' story; it's not really a #Dodgers story. It really has nothing to do with the Dodgers. They're completely separate. There are no changes here, or contemplated here."
Dodgers' President & CEO Stan Kasten addresses the media regarding Dodgers' Owner & Chairman… pic.twitter.com/5gVVvwXVc0
All the while, Los Angeles is in the midst of a three-game series against the Kansas City Royals at Dodger Stadium.
In 2012, Walter was part of the Guggenheim Baseball Management group that bought the Dodgers for $2.5 billion—pulling the franchise out of bankruptcy. One of his partners was NBA legend Magic Johnson, who praised the sale. Kasten was brought onto the group and made President and CEO.
Under Walter and Kasten's tenure, the Dodgers began a run of success from 2012 to 2026. They won 12 National League West Division titles, four NL Pennants, and three World Series (2020, 2024, and 2025).
In May, Walter was honored as Sport Business Journal's Executive of the Year.
Last June, Walter bought the Lakers from the Buss family for $10 billion. The Buss family owned the Lakers for 46 years. Before the sale on Wednesday, Walter was in legal trouble. He is under investigation for federal and tax fraud by the FBI, the U.S. Attorney's Office for the Southern District of Manhattan, and the Securities and Exchange Commission (SEC).