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And the ball goes, it goes and it’s gone… The Los Angeles Dodgers hit home runs ‘back to back’ in stovetop baseball, prior to the 2024 Major League Baseball (MLB) season.
First they signed the MVP of the 2023 campaign and the most coveted player: the Japanese Shohei Ohtani, for the not modest amount of 700 million dollars and 10 years, in what became the largest contract in the history of sports in the United States. . Immediately afterwards, the Los Angeles team hired the most desired pitcher in the winter market: Yoshinobu Yamamoto, another Japanese who signed for 325 million dollars and 12 seasons, despite the fact that he has not thrown a single ball in the Major Leagues.
On just two players, the Dodgers squandered more than a billion dollars, not counting the changes they made to sign another star pitcher, Tyler Glasnow, and outfielder Manuel Margot, who arrives from the Tampa Bay Rays, where the Mexican still plays. Randy Arozarena, and the addition of Jason Heyward.
Ohtani, Yamamoto and Glasnow join a ‘blunderbuss’ that includes players like Mookie Betts, Freddie Freeman, Walker Buehler, Will Smith, among others and that in betting looks like a favorite to win the ‘Fall Classic’, that is , next year’s World Series.
Where does the money come from to extend those contracts? Who is the owner of the Los Angeles Dodgers and what does he do? What other sports have you done business in?
Profile of Todd Boehly, owner of the baseball Dodgers and the Lakers
The man who gave up part of his fortune to sign the two Japanese stars is called Todd Boehly, who is co-founder, president and CEO of Eldridge Industries, a company with a workforce of more than 3,000 employees.
Boehly’s fortune is due to investments he has made in more than 70 operating businesses, including Security Benefit, of which he is president, A24, Fulwell 73 and Penske Media, which includes internationally recognized media such as The Hollywood Reporter, Variety, Billboard and Rolling Stone, Vibe, Music Business Worldwide, Dick Clark Productions, Life is Beautiful and the investment in South by Southwest.
In addition to being the owner of the Los Angeles Dodgers, Todd Boehly is president and owner of the Chelsea Football Club and part owner of the Los Angeles Lakers, Los Angeles Sparks, Cloud9 and DraftKings.
Due to his role as an investor, Boehly is part of the boards of directors of the Los Angeles Lakers, Flexjet, PayActiv, CAIS, Chelsea Football Club, Cain International, Kennedy Wilson and Vivid Seats, according to his profile on the official site of Major League Baseball.
Before founding Eldridge Industries, Todd Boehly was president of Guggenheim Partners and founded the credit business at Guggenheim.
In parallel to his businesses, the businessman who owns the Los Angeles Dodgers supports research into epilepsy, as well as the prostate cancer foundation, among other institutions.
What is Todd Boehly’s net worth?
The wealth of the owner of the LA Dodgers is valued at $6.8 billion, a figure that places him on the list of the 500 richest men in the world, according to the Bloomberg Millionaires Index. Boehly is in position 375, as of December 26.
His fortune mainly comes from his success in businesses such as insurance, media, sports, real estate, and asset management.
These are the current investments and businesses of the Dodgers owner
Boehly owns 78 percent of Eldridge’s shares, according to a Bloomberg analysis of a June 2023 filing.
It also participates in Security Benefit, an insurance company with assets of $51.2 billion as of June 2023, and A24, a film production company, valued at around $2.5 billion in a financing round in March 2022.
Too Boehly declined to comment on his net worth through a spokesperson in November 2023, Bloomberg indicates.
How much does the Los Angeles Dodgers team cost?
New York Yankees, Dodgers and Boston Red Sox are the three most expensive teams in MLB, according to the 2023 ranking prepared by the specialized site Sportico.
The New York team is in the lead with a value of 7.13 billion dollars, well above the Los Angeles Dodgers, ninth valued at 5.24 billion dollars. The Red Sox appear in third place with a value of 5.21 billion dollars.
The top 10 of the most expensive Major League franchises in 2023 looks like this, according to Sportico:
New York Yankees – $7.13 billion Los Angeles Dodgers – $5.24 billion Boston Red Sox – $5.21 billion Chicago Cubs – $4.69 billion San Francisco Giants – $3.81 billion New York Mets – $2.82 billion Atlanta Braves – $2.75 billion Houston Astros – $2.58 billionPhiladelphia Phillies – $2.46 billionLos Angeles Angels – $2.45 billion
Dodgers History: How many World Series championships have they won?
The Los Angeles Dodgers are one of the most recognized teams in the Major Leagues and in Mexico, due to the performance of legendary players such as Fernando ‘Toro’ Valenzuela and the now Mexican free agent Julio Urías, who was separated from the club after a case of domestic violence.
Since its founding, the Dodgers have lifted the ‘Fall Classic’ trophy seven times. The LA team won the title in 1955, 1959, 1963, 1965, 1981, 1988 and 2020, when Julio Urías played a prominent role.
In recent seasons, the LA Dodgers have dominated the National League with 10 division titles since 2013 and three trips to the ‘Fall Classic’, facts that contributed to Shohei Ohtani’s decision to wear the white uniform with blue trim.
The most iconic players on the team currently
Although the glorious seasons of ‘Toro’ Valenzuela with the Dodgers are far away, Mexican fans of the ‘King of Sports’ still have a place in their hearts for the Los Angeles baseball team.
Currently, the Dodgers have a roster full of stars in all positions. The most notable players are:
Shohei OhtaniYoshinobu YamamotoMookie BettsFreddie FreemanWalker BuehlerWill SmithTony GonsolinJoe KellyAustin BarnesGavin LuxMax Muncy
Guggenheim Baseball Management and its impact on the Dodgers
MLB welcomed a new group of business owners in May 2012, when the Los Angeles Dodgers changed ownership.
The deal closed for two billion dollars after Frank McCourt agreed to sell the team to Guggenheim Baseball Management, a consortium that includes Earving ‘Magic’ Johnson, former Los Angeles Lakers star.
According to the official site of Major League Baseball, Mark Walter, CEO of the financial services firm Guggenheim Partners, is one of the main shareholders, while Stan Kasten, former president of the Atlanta Braves, is one of the senior executives of the organization.
Who sponsors the Dodgers?
Like other Major League Baseball (MLB) teams, the Dodgers have sponsors who contribute significantly to their financing.
Nike is one of the team’s sponsors, according to a Los Angeles Times article mentioning the Dodgers’ new uniforms. The global sports brand provides the equipment and apparel that players wear on the field.
Who bought Chelsea Football Club?
The acquisition of Chelsea, a Premier League club, was announced in May 2022. A group led by Todd Boehly reached an agreement to buy Chelsea for 5,250 million dollars (about 105,968 million pesos) to former owner Roman Abramovich, a Russian millionaire who was sanctioned for Russia’s invasion of Ukraine.
“In the current situation I have made the decision to sell the club, as I believe it is best for the club, the fans, the employees, as well as the sponsors and partners of the club,” explained Roman Abramovich in a press release.
According to Russian oligarch Roman Abramovich, the money obtained from the sale of Chelsea would go to a foundation for charitable causes in favor of war victims.
Boehly’s group includes investment firm Clearlake Capital, Swiss businessman Hansjoerg Wyss and Guggenheim Partners CEO Mark Walter, Bloomberg News reported in breaking news of the Chelsea purchase.
With information from Bloomberg.
2023-12-30 19:13:56
#owns #team #financial
