Team(s) owned / ownership stake: Los Angeles Dodgers | minority
Other businesses/titles: Chief executive, Los Angeles Dodgers
How did you come to own a sports team?
I was doing the same thing in Washington where I was part owner. After I left, I was considering investments, most in the sports world. I got together with Mark Walter. We looked at buying the Houston Astros and our attention shifted here when the team became available. This was literally a once-in-a-lifetime opportunity.
Is it an investment or more of a hobby?
It’s more of a passion than a hobby or job. We wouldn’t do this if we couldn’t view it as a wise business as well. The passion part is the primary initial reason for us doing this.
Is it a good investment?
It can be under the right circumstances. The Dodgers here in Los Angeles are the right circumstance. Over the years, I learned that any business has a product, customer and brand. If you focus on those things, you will find success.
Other than winning, what’s the best thing about owning part of a sports team?
There is the thrill of competition and immediate feedback. You have a win or loss every day. That’s not the case in many businesses. It’s different than most other investments and businesses. Everyone (in the ownership group) is in for their passion for the sport and team and market. Even the ones who live in other cities feel that way.
What’s the worst thing (besides losing)?
The constant scrutiny that other businesses don’t have. Every customer has a deep, well thought out opinion about everything you do. There’s nothing you can do to bypass immediate scrutiny or critique literally on a minute-by-minute basis. If you have a thin skin for feedback, this would be a bad business for you.
How many games a season do you attend?
It’s well over 100, especially when you include preseason and postseason. I’m at virtually every home game and a fair amount of road games.
What was your favorite team when you were growing up?
I was a Yankees fan, and more specifically a Mickey Mantle fan, as was most of America back then.
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