Former Nationals president Stan Kasten emerged Friday as a partner with NBA legend Magic Johnson and investment banker Mark Walter as the Guggenheim Baseball Management group — and got set to put in a bid on the Los Angeles Dodgers.
Johnson, a successful businessman since his playing days who was part owner of the Los Angeles Lakers, announced the plans via twitter saying “Thrilled to announce that I’ve partnered w/ Mark Walter & Stan Kasten to form Guggenheim Baseball Mgmt in pursuit of purchasing the Dodgers!” He’ll serve as the “point man” with Kasten set to handle the baseball operations and Walters serving as the main financial backing should the group be successful in their bid.
Kasten was the Nationals president from 2006-2010, adding the Nationals to the growing list (Atlanta Braves, Atlanta Hawks) of professional sports franchises he’s helped construct. Kasten, who held a financial stake in the team until this past year, was a vital resource for the Nationals and the Lerner family as they brought baseball back to Washington and began the process of building an organization basically from the ground up.
Kasten had been out of baseball since stepping down from the Nationals in 2010, leaving a position the Nationals declined to fill, but his partnership with Johnson and Walters had the baseball world salivating on Friday. With the star power of Johnson combined with Kasten’s leadership and knowledge, along with the proper finances, the group is the easy and early favorite in the Dodgers’ sweepstakes.