BREAKING: The NBA has ruled on the Los Angeles Clippers in for salary cap circumvention investigations on Kawhi Leonard after yearlong probe -- stripping the franchise of 5 first-round picks, issuing a $30 million fine to owner Steve Ballmer and suspensions for Ballmer, Lawrence Frank and Gillian Zucker, sources tell ESPN.
Kawhi Leonard will have to pay $700,000 in restitution for improper benefits by the Clippers for his uncle and former business rep, Dennis Robertson. No contract void or suspension for Leonard. And Robertson -- who was fired by Leonard in June -- is being banned by the NBA from all business dealings.
I have no evidence -- and no other media member has reported any -- that the Dodgers did anything that ran afoul of the CBA. Beyond that, the government is focused more on procedural questions -- the mismarking of affiliated investments and the web of companies under Guggenheim's umbrella -- than anything specifically related to the Dodgers. You are well within your rights to assume whatever you want to assume, and if you want to suggest there was some kind of fraud that specifically impacted on-field performance, you do you. I'm not going to do that because I have no idea how the money they received from selling the debt on their TV network, for example, was used. I wasn't being naive when I said the Dodgers cracked the system. They did. They recognized that cash is a grand separator in terms of securing talent and that CBT thresholds should be no impediment. You know who else did? The Mets. And they stunk. Every billionaire has access to cash. Not as much as the Dodgers, certainly, but if they want to get more capital to invest in their team, they can. They choose not to. And that is well within their rights, too, but to suggest that because Mark Walter is under investigation for one business' tactics that it automatically ties into another's -- with zero hard evidence showing that's the case -- is simply a case of you fitting what you think you know to a conclusion you already made.
Friendly reminder that the Dodgers dynasty only exists because….
• Braves blew a 3-1 lead
• Padres lost a bullpen game in San Diego and went scoreless in game 5
• Aaron Judge dropped the ball
• Blue Jays gave up the most improbable homerun in World Series history
@Fullcourtpass@sam_amick She has no chance of winning this, even if it goes to court. The new owners- all they have to do is fire her, as she did to her own family.
One important clarification with all of the Mark Walter news:
Some of the loans that were previously classified as unaffiliated did involve Dodgers-related entities. Delaware Life reportedly had more than $100M in private-credit investments involving Dodger Tickets LLC that were later reclassified as related-party investments.
But that does not mean Walter was secretly using billions in undisclosed insurance loans to fund the Dodgers’ payroll.
The Dodgers are an extremely high-revenue business. Their player spending is supported by the team’s own economics: ticket sales, sponsorships, merchandise, MLB revenue and, most importantly, one of the most lucrative local TV deals in baseball.
So the concern here isn’t that the Dodgers could only afford Ohtani, Yamamoto, Snell, etc. because Walter was funneling insurance money into the team.
The relevant issue is that Dodgers-related entities were part of Walter’s much larger network of related-party financing, and some of those investments were apparently not originally classified as affiliated.
That distinction is important.
The controversy is about how Walter financed and structured parts of his broader business empire, not evidence that the Dodgers’ massive payroll was being funded by undisclosed loans.
Jeanie Buss was the lone family member not in favor to sell as the five siblings voted 5-0 -- including two of the three trustees -- to sell the Buss stake, sources said. Jeanie Buss' attorney says tonight that she intends to battle the remainder of the family in order to keep their shares.
Kushner/Iger weren’t sure they could get the Vegas expansion team (7.5b range), so they pivoted to buying Walter’s majority Lakers stake (around 78%) for like 9.5b. And got an iconic NBA franchise. Still — most shocking NBA sale in a long time. The Lakers got flipped!