The Los Angeles Dodgers and their stadium were appraised at $3.2 billion for the sale of a minority stake to 2 investors, 3% less than Forbes' valuation 6 months ago but still 60% more than the team and stadium were valued at in 2012
The two investors, whose names have not been revealed, bought less than 5% of the team using a valuation of about $2.56 billion. Dodgers president Stan Kasten, who is also an investor in the team, did not return a phone call seeking comment.This deal marks the first tranche being sold to limited partners by the general partners, who are looking to sell another, bigger tranche this year.
When Guggenheim Baseball Management bought the Dodgers and Dodger Stadium in 2012, the enterprise value, including real estate surrounding the stadium, was $2.3 billion. That real estate—of which the previous Dodgers owner, Frank McCourt, still owns half—was not included in the sale to the LPs. The deal illustrates the success Guggenheim Baseball Management has had running the Dodgers. The team has played in the last two World Series, losing to the Houston Astros in 2017 and to the Boston Red Sox in 2018, and are the favorites to reach the Fall Classic again this season.
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