Updated October 15, 2026, 8:40 a.m. ET
LOS ANGELES — Even the most demoralized Los Angeles Dodgers fan has to understand that things are likely going to get worse — and soon.
Not just the end of a quest to win a third consecutive World Series championship. Those hopes were further dimmed when the Dodgers lost to the Milwaukee Brewers, 6-2, in Game 3 of the National League Championship Series and fell behind 3-0 in the best-of-seven series.
The season could end on Thursday, October 15 or shortly after. And for those who think the Brewers are scary, let’s not forget something else: the Department of Justice and the Securities Exchange Commission.
Both are conducting parallel investigations into Dodgers majority owner Mark Walter for possible financial improprieties at two insurance companies controlled by Walter and at Guggenheim Partners, where Walter is CEO, Bloomberg reported. The Justice Department has not contested the investigation, and Walter’s companies have said they are working with the government.
And the sales have started.
In August, Walter agreed to sell his majority stake in the Los Angeles Lakers at a valuation of $12.5 billion. In September, Walter and his business partner Todd Boehly sold their roughly 13 percent stake in the Chelsea soccer team for more than $1 billion, according to the Financial Times.
Dodgers CEO Stan Kasten has categorically denied that the Dodgers are for sale. But will Walter and his partners still be able to build teams with massive payrolls?
More financial problems loom
Let’s say Walter and his companies are right. They didn’t do anything wrong. The Department of Justice and the Securities Exchange Commission gave them a clean bill of health and a note of apology for all the aggravation.
Problems always loom.
Major League Baseball is pushing for a strict salary cap that would deprive Los Angeles of a huge advantage. So tough that the sport is likely to suffer from a strike or lockout. Naturally, baseball fans must be happy to see Los Angeles, the league’s second-largest market, lose to Milwaukee.
Things may get tougher for the Dodgers if they are forced to give up one of their greatest advantages: their economic power.
But concerns extend further for Los Angeles.
After the Dodgers beat the Atlanta Braves in the NLDS, manager Dave Roberts praised his team.
“There is no team more talented than the Los Angeles Dodgers,” the three-time World Series-winning skipper boasted. “This is the best organization in sports, top to bottom. We’re smarter, we’re better and we’re tougher.”
Outfielder Teoscar Hernandez interrupted: “And we are dinosaurs!”
Hernández is 33 years old and part of an undeniable reality. They may not be dinosaurs, but their age is starting to give them away.
That includes Ohtani, who, at 32, faces concerns about his own sustainability. Left knee problems forced him to stop throwing in early July and right biceps and neck problems left him on the 12-day injured list in September.
He failed to regain power at the plate, although he showed progress in Game 3. He ripped a single up the middle and also reached base after being hit by a pitch and drawing a walk while going 1 for 2. The scrutiny of Ohtani’s slump is legitimate but masks larger problems.
What’s wrong with the race car
The Dodgers are a race car with a broken clutch. They lost 2-1 in the first match after failing to grasp Jacob Misioroski’s struggles. They took a 2-1 lead in the bottom of the sixth in Game 3, then immediately gave up three runs in the top of the seventh on back-to-back home runs.
There have been no public appearances from Walter during the postseason, which is now shaping up to be one of the most disappointing Octobers since he and Guggenheim Partners purchased the Dodgers in 2012. And about that purchase…
The Pablo Torre Finds Out podcast reported on alleged instances of self-dealing when Walter and Guggenheim Partners purchased the Dodgers in 2012 for $2.15 billion.
Walter and his companies have denied any allegations of wrongdoing.
The Dodgers face daunting challenges beyond the Brewers as their remarkable reign nears an end.
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