Mark Walter Sought Lump-Sum Exit From $11.35 Billion Lakers, Dodgers TV Deals
Updated
Updated · Silver Screen and Roll · Aug 19
Mark Walter Sought Lump-Sum Exit From $11.35 Billion Lakers, Dodgers TV Deals
3 articles · Updated · Silver Screen and Roll · Aug 19
Summary
Charter Communications held talks with Mark Walter about ending the Lakers’ and Dodgers’ local TV contracts early for a lump-sum payout, but the discussions went nowhere.
Walter pursued the cash-raising move as a federal investigation tightened pressure and liquidity concerns mounted, after later selling the Lakers and putting his Chelsea stake on the table.
The TV rights at issue are huge: the Dodgers’ 25-year Spectrum deal is worth $8.35 billion through 2038, and the Lakers’ 20-year deal is worth about $3 billion through 2031.
Charter had already hired Raine Group late last year to try to sell Spectrum SportsNet, suggesting little incentive to buy its way out and adding uncertainty for the Lakers under incoming owners.