Who is the man behind the Dodgers' free-spending ways?

The Los Angeles Dodgers have become the envy of the baseball world.

A year after spending over $1B in free agency, the Dodgers continued to add to an already impressive roster. 

The Dodgers are not only projected to spend approximately $70M more than the second-highest payroll but their farm system is one of the best in baseball. The Dodgers have six of the top 100 prospects per MLB.com, highlighted by phenom Roki Sasaki.

This was not the case back in 2012. The Dodgers filed for bankruptcy protection in 2011, caught in the messy divorce between Frank and Jamie McCourt. The team was sold to the Guggenheim Ownership Group, fronted by CEO Mark Walter on May 1, 2012, for $2B and has not missed the postseason in a full year under this ownership group.

The Dodgers' ownership group has some impressive names. Basketball Hall of Famer Magic Johnson, former MLB, NBA and NHL executive Stan Kasten and Peter Guber — who is also the co-owner of the Golden State Warriors and the MLS' Los Angeles FC. 

However, Walter is the principal owner and the man signing the checks. He founded the Guggenheim Partners, an investment and financial advisory firm with over $270B in assets, in 1996. The 65-year-old Walter, worth a reported $6.2B, is also the co-owner of the WNBA's Los Angeles Sparks and English Premier League Chelsea FC. Walter also owns the Professional Women's Hockey League.

Walter is not the richest owner in Major League Baseball. That honor still belongs to Mets' owner Steve Cohen ($21.3B) with Braves' owner John C. Malone ($10.8B) second. Several other owners are close to Walter's net worth, so he is not the only owner that can make these types of expenditures.

Walter's checkbook is not the only advantage the Dodgers have. The Dodgers have stability in the front office and coaching staff. Their farm system continues to churn out top prospects. 

The Dodgers are looking to become a dynasty — Walter has been a key part in making that happen.