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Did Dodgers underestimate value of Shohei Ohtani's first homer? It may be worth $100,000

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Did Dodgers underestimate value of Shohei Ohtani's first homer? It may be worth 0,000

A baseball falls from the sky and into a fan’s hands. Or at least it comes to rest near their feet and they reach down and secure it. The fan has taken possession of something that might have monetary value. It is theirs to do with as they wish.

Ambar Roman’s seat in the Dodger Stadium right-field pavilion April 3 became the resting point of Shohei Ohtani’s first home run as a Dodger. The 28-year-old Whittier woman picked up the ball and her world became a swirl.

Roman and her husband, Alexis Valenzuela, say Dodgers security personnel persuaded her to surrender the ball for a bat, a ball and two caps, all autographed by Ohtani. Why? Ohtani wanted the genuine article and told reporters after the game, “For me, it’s a very special ball, so I’m thankful.”

Two experts at auction houses that regularly auction baseball memorabilia said the ball is worth approximately $100,000, while the signed merchandise Roman received in exchange for the ball would sell for less than $10,000.

The current bid for Mike Trout’s 2024 opening day home run baseball is $7,010.00. The MLB hologram sticker authenticated the ball.

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(MLB)

Gary Cypres, founder of the Sports Museum of Los Angeles and owner of the greatest collection of Dodgers memorabilia anywhere, said, “I might be willing to pay a little more than the $100,000” but that other Dodgers collectors probably would pay $50,000 to $75,000.

Roman and Valenzuela said the Dodgers told her the ball would be worthless if she took it home because it would not be “authenticated,” a word with a precise meaning regarding sports memorabilia in general and a baseball hit into the stands in particular. The Dodgers have disputed that, saying she was only told that the ball could not be authenticated by MLB.

The couple also said Dodgers personnel would not allow Valenzuela to participate in his wife’s negotiation and did not escort them to the parking lot with their Ohtani-autographed merchandise, resulting in a public relations black eye for a franchise generally regarded as operating with class and in the best interests of its fan base.

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The episode isn’t over: Roman and her family are invited to Dodger Stadium on Friday — on her birthday, no less! — during which she will receive more memorabilia and premium seats for giving the ball to Ohtani, who a Dodgers official said is expected to meet her. Onlookers undoubtedly will be calculating whether her haul is roughly equivalent to the six-figure valuation.

Fans applaud Shohei Ohtani as he heads to the dugout after hitting his first homer with the Dodgers.

(Allen J. Schaben / Los Angeles Times)

The Dodgers also said they’re going to analyze how they interact with fans who secure milestone baseballs.

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“We’re excited to host them again for a special night and give them a special Dodger experience,” said Lon Rosen, the Dodgers’ executive vice president and chief marketing officer. “And we’re going to review the process.”

Still, the episode raised questions. Did the Dodgers drop the ball by not providing Roman with authentication? If Roman had left the stadium with the ball, would it be worth less at an auction because it wasn’t authenticated? Is the ball authenticated as Ohtani’s first home run even now, in Ohtani’s possession?

And, how does authentication work, anyway?

Fake sports memorabilia and forged autographs were rampant in the 1990s, prompting the FBI to launch a probe called “Operation Bullpen.” San Diego Padres great Tony Gwynn was recruited to participate because he’d flagged several items in a Padres gift shop that featured his forged signature.

The investigation resulted in the convictions of more than 50 people and the dismantling of a dozen or so forgery rings by 2001, the same year Major League Baseball implemented an authentication protocol to protect fans and players alike from fake items in the burgeoning memorabilia market.

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Rangers catcher Jonah Heim with the authenticated baseball that was the last out of the 2023 World Series. The authentication hologram sticker is visible at the top of the ball.

(MLB)

The technology used by MLB authenticators — most of whom are current or former law enforcement officers with chain-of-custody training — has evolved. Today, an authenticator sits in each dugout of every game, witnesses the use of every conceivable item from baseballs to bats to bases to lineup cards to uniforms to gloves, and affixes a tamper-proof numbered hologram to identify its authenticity.

An exception? Balls that fly off a bat and into the stands. Chain-of-custody integrity can be compromised as soon as a ball leaves the field. Therefore, home runs such as Ohtani’s initial blast as a Dodger cannot be authenticated — at least not through the strict MLB protocol.

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This is where the Dodgers’ version of what transpired with Roman diverges. She told The Times’ Bill Plaschke that the Dodgers informed her that if she kept the ball, the team would not authenticate it and the ball would be worthless. Two Dodgers executives who requested anonymity because of the sensitive nature of the topic said Roman was told the ball could not be authenticated, period. It had nothing to do with whether she chose to take it home or not.

In fact, even in Ohtani’s possession, the ball is not MLB authenticated. Common sense might dictate that video captured Roman holding the ball and celebrating, and that moments later Dodgers security personnel made a beeline to her seat and whisked her away with the ball.

Does anyone really believe she somehow swapped out the ball for another official major league ball that never kissed Ohtani’s lumber?

“The authentication program has a strict rule about not authenticating a ball once it goes into the stands because we know fans bring balls to games and can also get balls from batting practice,” said an MLB spokesman who requested anonymity because they weren’t authorized to speak on the record. “Above all else though, the program does not allow for authenticating balls in the stands because it is a chain-of-custody and witness-based program.”

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Although the Dodgers may have underestimated the potential value of Ohtani’s first home run with the team and the interest it would generate, MLB makes the decisions pertaining to authentication.

MLB could have implemented “covert marking,” an I-spy-like term meaning that baseballs used during Ohtani’s at-bats would have been marked ahead of time with a combination of letters and numbers. However, the authentication official said covert marking is reserved for milestones, not for “player firsts” such as Ohtani’s first Dodger homer.

Recent examples include career home runs Nos. 500, 600 and 700; career hit number 3,000; the final hits by Derek Jeter and David Ortiz; and the last out at old Yankee Stadium. Cost, the spokesman said, has never been a consideration.

The practice was utilized when Barry Bonds chased Hank Aaron’s career record of 755 home runs in 2007 and most recently was used ahead of Aaron Judge’s 62nd home run in 2022 and Albert Pujols’ 700th career homer that same season.

“The fans that caught the balls were brought under the stadium and had the balls authenticated once the covert marking was confirmed by the authenticator in a private, secure area,” the spokesman said. “This was and always is agnostic of the [fans’] plans for the ball.”

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Any item authenticated by MLB can be verified on a website by typing in the hologram identification combination — usually two letters and six numbers.

Before holograms and staff authenticators, memorabilia was authenticated primarily through a photo match. The jersey a player purportedly wore during a milestone moment, for example, could be matched against a photo of the player wearing the jersey in that game. The system wasn’t perfect, but it was better than blindly taking someone’s word.

The technological advances and resources MLB and other leagues have put into authentication is appreciated by David Kohler, owner and president of Orange County-based SCP Auctions for 45 years.

“One of the best things to happen in the thriving memorabilia market is authentication and the authentication process,” he said. “It’s real. Authentication is why prices have gone up. There is a process and it’s great. It makes our job easier.”

Kohler said that while the Dodgers are “a class organization,” the MLB authenticator could have assisted Roman had she opted to keep the ball by making sure the one she left the stadium with was the same one she might later have sold at auction.

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“They should have brought the authenticator in there, and he could have marked the ball,” he said. “Then let her go home with the ball and figure it out over the next few days.”

Shohei Ohtani’s first Dodgers homer was caught by Ambar Roman. Experts says the ball is worth about $100,000, while the signed merchandise Roman got from the Dodgers in exchange for the ball would sell for less than $10,000.

(Allen J. Schaben / Los Angeles Times)

The Dodgers might get a chance soon to implement any new policies pertaining to fans and valuable baseballs. Ohtani is one home run from tying former New York Yankees slugger Hideki Matsui for most MLB home runs by a Japanese player at 175, so the next two he hits could pique the interest of Japanese collectors as well as those in the United States.

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What’s worth more than the baseballs Ohtani hits to reach milestone home runs? The bats. “Historically, bats from a value standpoint do much better in auctions than balls,” Cypres said.

Kohler and other auction executives can’t rely solely on sports leagues to provide authentication of memorabilia that customers want to buy and sell. They have developed inventive ways of establishing to a compelling degree that an item is everything the seller says it is.

Many items come with a letter of authenticity from the original owner. The 2000 NBA championship ring auctioned by Kobe Bryant’s parents in 2013 is an example: The ring has been sold three times since but continues to be accompanied by the original LOA signed by Kobe’s mother, Pam Bryant.

Several companies offer authentication services that promise to verify autographs, grade trading cards and issue certificates of authenticity. That might not be as ironclad as an MLB hologram sticker, but it weeds out obvious fakes.

The last home run Bonds hit — No. 762 — came Sept. 7, 2007, at Coors Field after MLB ceased supplying his games with covertly marked balls. A scramble for the ball occurred in the stands and MLB refused to authenticate it because of the confusion and lack of conclusive video evidence.

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Jameson Sutton ended up with the ball but it wasn’t clear that the home run was Bonds’ last until the season ended three weeks later, at which point its value skyrocketed — if the ball could be authenticated. Enter Kohler, who commissioned a lie detector test that Sutton passed. The lie detector report accompanied the ball, which sold at SCP auction for $377,000 in April 2008.

SCP also auctioned a bat used by Lou Gehrig to hit his last home run, a spring training blast in 1939. Gehrig went homerless in eight games that regular season before retiring because of complications with amyotrophic lateral sclerosis, what would come to be known as Lou Gehrig’s disease.

Upon returning to the dugout, Gehrig handed the bat to a Yankees bat boy named Bing Russell, who became a popular television actor. His son is actor Kurt Russell and a grandson is former major leaguer Matt Franco, whose mom, Jill, kept the bat in an umbrella closet for years.

“My grandfather would bring out that bat every time we had people over and the conversation turned to baseball,” Matt Franco said. “He’d pass it around the table and he’d tell stories about all the guys on those teams.”

Jill Franco eventually auctioned the bat through SCP, and Kohler reached out to the Hillerich & Bradsby Co. to confirm it was one of the last models shipped to Gehrig. The venerable bat-making company keeps meticulous records, and an invoice shows the shipment of four bats in August 1938. It was Gehrig’s last order.

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The most famous home run ball never found was the one hit by Kirk Gibson to win Game 1 of the 1988 World Series, voted by Times readers as the greatest moment in Dodgers history. The Dodgers commemorated the home run in 2018 by painting in blue the seat — Row D, Seat 88, Section 302 — where the ball is believed to have landed. Gibson even signed the seat.

On Gibson’s behalf, SCP auctioned all other memorabilia associated with the iconic hit — Gibson’s bat, helmet and uniform — bringing in a cool $1 million. The ball, however, is lost in the mist of pre-authenticator history.

“We’ve had people say they have the ball, but it never leads to anything,” Kohler said. “Authenticating it would be extremely difficult, almost impossible.”

Any self-respecting MLB authenticator no doubt would agree.

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Environmental groups press to halt Imperial Valley lithium venture

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Environmental groups press to halt Imperial Valley lithium venture

In a case that has become a local flashpoint, environmental groups seeking to halt a lithium operation in Imperial County until it gets further review argued before a state appeals court in San Diego on Thursday.

Controlled Thermal Resources wants to extract lithium from hot brine that will be used to power a geothermal electricity plant it plans to build. This type of lithium removal is different from traditional hardrock mining or evaporation ponds. The project also would need 6,500 acre-feet of fresh water annually for washing the mineral and cooling.

Earthworks, a nonprofit focused on the impacts of mining, and Comité Cívico del Valle, an Imperial County environmental justice group, allege the county didn’t adequately examine the project’s effects on water supply, air quality and tribal cultural resources when it granted approvals.

The groups filed suit in March 2024 and Imperial County Superior Court Judge Jeffrey Jones ruled against them in January 2025, saying the county met its legal requirements.

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Before a panel of three judges for the California Court of Appeals 4th Appellate District, plaintiffs’ lawyer Doug Carstens argued that if water becomes scarcer, the project may rely on agricultural runoff that currently feeds the shrinking Salton Sea, exacerbating dust and air quality issues. He also said the environmental review did not account for future water-thirsty projects in the desert area.

“There will be a lot of straws dipping into the pool,” Carstens said.

The project, called Hell’s Kitchen, also failed to adequately involve local tribes in assessing the effect on cultural resources, he said.

Controlled Thermal Resources attorney Suzanne Varco said that the company reached out to 26 area tribes in 2021 and received no reply. She noted that one elder from Kwaaymii Laguna Band of Indians responded with concerns about mud pots and other resources in the area, but it was more than five months after the consultation period closed.

Justice Julia Kelety’s questions suggested the tribes provided names for resources in the area but failed to say how they would be affected.

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Justice Truc Do said it was hard to assess fully how the project will affect the region’s water because the environmental review was unclear whether it will last 30 or 50 years. The region primarily relies on water from the overtapped and shrinking Colorado River.

The case is important because Imperial County has pegged its future to lithium, a mineral critical for electric car batteries. Two other companies are trying to reach commercial extraction near the Salton Sea. Gov. Gavin Newsom called Imperial Valley “the Saudi Arabia of lithium” in 2022, and has touted the industry’s potential to bring jobs and community benefits to one of the poorest counties in the state.

Multiple setbacks and deadline extensions later, lithium has yet to materialize even as industry job training programs graduate students into careers that have not arrived in the area. The county has blamed the lawsuit for the slow start. The boom and bust nature of mining as well as shifting federal policies have also played a role.

The court could decide within a few weeks to several months.

Earthworks and Comité Cívico del Valle have repeatedly said they don’t outright oppose lithium development in the area, but want CTR to acknowledge and minimize potential harm.

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“We are not trying to stop the Hell’s Kitchen Project, we think it should be fixed, with enforceable protections for the environment, tribal cultural resources, and the health of frontline communities,” said Jared Naimark, senior manager at Earthworks.

Imperial County and CTR declined to comment on pending litigation, but Controlled Thermal Resources spokesperson Lauren Rose articulated a commitment to advancing geothermal and lithium development “as core components of our Hell’s Kitchen Project.” The company recently announced a plan to power local data centers which led some to worry about the company’s commitment to lithium.

Earlier this year the company delayed its plans for lithium production to 2028. Rose said the project is still progressing toward initial construction and will announce timing “as key development, financing, and construction milestones are achieved.”

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Netflix reports higher profits as investors worry about growth

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Netflix reports higher profits as investors worry about growth

Netflix on Thursday reported higher revenues and profit in the second quarter as it sought to assure investors about its growth prospects.

The streaming giant reported revenue of $12.6 billion in the second quarter, up 13% from a year ago. Net income during the period rose 9% to $3.4 billion.

Netflix said it expects revenue to grow 12% in the third quarter, but lowered its 2026 revenue forecast to $51 billion from $51.4 billion.

The results were roughly in line with what analysts had predicted and were driven by recent price increase and growth in advertising revenue. The latter is expected to reach $3 billion this year, the company said.

In a presentation with analysts, Netflix executives touted global expansion plans.

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“We’re entertaining an audience approaching a billion people with still lots of room to grow into our addressable market on every measure,” said Spencer Neumann, Netflix’s chief financial officer, in the earnings presentation. “We believe we’ve got lots and lots of runway for solid growth ahead of us.”

Those comments appeared intended to assuage investors who’ve grown concerned that people could be spending less time on the streaming service as rivals like YouTube gain market share.

Netflix’s share of TV viewing time in the U.S. has steadily declined in recent months as rivals have gained market share, according to Nielsen data.

The streamer represented 7.8% of all TV viewing in the U.S. in April — the lowest percentage since May 2025. It was 7.5% in April 2025, Nielsen said.

By comparison, YouTube has seen its share of the streaming audience grow. YouTube’s TV viewing share in April rose to 13.4%, up from 12.4% a year earlier, Nielsen said.

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Some investors fear that if viewership is down, subscribers could cancel the service, which would negatively affect the platform’s growing advertising business. It could also undercut Netflix’s ability to raise prices in the U.S. and other countries.

Those worries have caused Netflix’s stock price to plummet 41% in the last year. The stock closed on Thursday at $74.35 a share, up 1%. In after hours trading, the stock fell 8%.

“The engagement elephant continues to rear its head and investors are on edge that an earlier price hike in a seasonally tough period and lighter content slate could have driven more churn than usual,” wrote Morgan Stanley Research analysts in a research note.

On Thursday, Netflix said in a letter to shareholders it has a sophisticated understanding of its consumers and “we know not all hours are equal” and that engagement on its platform is “healthy.”

“The entertainment industry remains dynamic and competitive,” Netflix told shareholders. “We aim to stay ahead by executing against our three areas of focus: delivering more entertainment value, leveraging technology to improve every aspect of our service, and improving monetization.”

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The Los Gatos-based company said it plans to allocate more than 5% of its content spend on live programming this year. Live content has been a key driver for subscriptions, accounting for six of the top 10 new member sign-up days over the last five years, the company said.

In the first half of 2026, Netflix said members watched more than 97 billion hours, up 2% from a year ago. Among the most popular shows: the crime thriller “I Will Find You,” which had 87 million views; and the romantic comedy film “Voicemails for Isabelle,” which garnered 71 million views.

Netflix has been adding new types of content to its platform, including video podcasts to help increase engagement with subscribers during the day.

As part of the diversification efforts, the platform has expanded its portfolio of live programming over the years, including adding NFL games and streaming Major League Baseball’s opening day game.

In 2022, Netflix had also faced investor pressure when it reported declining subscribers for the first time in more than a decade. That pushed the company to delve into other areas including advertising, gaming and cracking down on password sharing.

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SpaceX stock erases all its gains and slides below IPO price in intraday trading

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SpaceX stock erases all its gains and slides below IPO price in intraday trading

SpaceX stock dropped below its initial public offering price for the first time on Wednesday, signaling dwindling hype around the Elon Musk company.

Shares dipped below their IPO price of $135 on Wednesday morning for the first time since listing, a humbling loss for the stock, which had skyrocketed more than 50% in its first days of trading last month.

The shares regained some ground later in the day, closing at $135.27.

The initial offering gave the company a market cap of $2.2 trillion, making it one of the world’s most valuable public companies. For a short period, the IPO also made owner Elon Musk the world’s first trillionaire, though his net worth now is about $800 billion.

On July 7, the company was added to the Nasdaq-100 after a rule change allowed companies to join 15 days after their IPOs.

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SpaceX raised a total of $86 billion after underwriters exercised their right to sell additional shares, on top of the $75 billion initially raised. It was the largest IPO in history.

SpaceX, based near Austin, Texas, is the leading launch services company in the world, with its Falcon 9 rocket accounting for the vast majority of satellites launched last year.

It is also the leading satellite-based broadband provider with its Starlink service. The extraordinary interest in the IPO was driven by Musk’s plans to make the company an AI leader — including plans to launch orbiting satellite data centers powered by the sun that crunch AI data.

The company’s headquarters moved from Hawthorne to Texas in 2024, but it retains large operations in the South Bay city and blasts off regularly from Vandenberg Space Force Base in Santa Barbara County.

Since the IPO, SpaceX has used its newfound wealth to expand in the AI space.

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It announced last month that it was acquiring the AI coding startup Cursor for $60 billion, with the deal expected to close in the third quarter. The San Francisco company, founded in 2022, enables engineers to instruct software in English to run coding tasks autonomously.

Musk also merged his xAI artificial intelligence company into SpaceX earlier this year. The combined entity recently announced it was leasing computing power to rivals Anthropic and Google at two terrestrial data centers it has constructed.

Since the IPO, investors have expressed concerns about the company’s spending plans and debt load.

Even with the volatility of the last month, there’s still more uncertainty to come.

The stock could fall further as locked-up shares held by current and former employees are released.

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At least 20% of the shares will be released after second-quarter results are disclosed sometime in the coming months, with all the lockups expiring in December.

But Space X isn’t the only megacap stock to experience ups and downs early on.

Shares of Meta, then named Facebook, fell significantly below the IPO price of $38 before recovering. After its May 2012 launch, shares plummeted by nearly 50% and hit a record low of $19.69 in August 2012.

The company took more than 14 months to rebound, finally surpassing its $38 IPO price in July 2013.

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