The Lakers are getting a new owner. And in Los Angeles, he’s already a familiar name.
Thirteen years after buying the Dodgers and transforming the team into a juggernaut in Major League Baseball, billionaire businessman Mark Walter is in line to become the new majority owner of the Lakers.
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Suddenly, the once anonymous Chicago-based investment manager is about to have both of the Southland’s most prominent professional sports teams in his portfolio.
For Lakers fans, Walter’s arrival will mark a massive shift following decades of family ownership of the team by the Buss family. But, they won’t have to look far to find examples of how Walter has operated another iconic Los Angeles sports brand.
Read more: Q&A: Dave Roberts says Mark Walter will help make Lakers a perennial title contender
“He’s really committed to the city of Los Angeles in various ways,” Dodgers manager Dave Roberts said Wednesday, after the stunning news of Walter’s impending purchase of the Lakers first emerged. “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.”
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As Walter’s ownership of the Lakers prepares to begin, here are four things to know about his stewardship of the Dodgers over the last decade-plus.
Money is (almost) no object
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 won the National League West only three times since the turn of the century, seemingly miles away from ending what was already by then a decades-long World Series drought.
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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…