The $2.15-billion sale of the Los Angeles Dodgers to Guggenheim Baseball Management fronted by former NBA star Magic Johnson was finalized on Tuesday. Read more here.
Tag Archives: Frank McCourt
The $2.15 billion sale of the Los Angeles Dodgers to a group led by ex-Los Angeles Lakers star Magic Johnson was approved by a federal bankruptcy judge on Friday. Read more here.
The number of bidders for the Los Angeles Dodgers have reportedly been whittled down to three, including groups led by a couple of billionaires, former NBA star Magic Johnson, and the owner of the NFL’s St. Louis Rams. MLB owners are bound by the Dodgers’ bankruptcy agreement to select a winner by April 1, with a sale being finalized by April 30. Read more here.
Famed MLB field manager Joe Torre and Los Angeles developer Rick Caruso have withdrawn a joint bid to buy the Los Angeles Dodgers, because owner Frank McCourt refuses to include the Dodger Stadium parking lots in the deal. The pair could return to the table, if circumstances change. Nine suitors are thought to still remain in the bidding game. Read more here.
Late night talk show fossil Larry King, who has become a minor partner in an investment group seeking to buy the Los Angeles Dodgers, has few kind words for current owner Frank McCourt. Read more here.
The first investment group to publicly announce intentions to bid on the Los Angeles Dodgers is led by former MLB team executives Andy Dolich (Oakland Athletics) and Fred Claire (Dodgers), and onetime biotech executive and Dodgers batboy Ben Hwang. Read more here. Former Dodgers owner Peter O’Malley has also expressed an interest in leading a group to buy the team and running it Continue reading
Embattled Los Angeles Dodgers owner Frank McCourt has agreed to sell the team. The court-supervised sale will include the team, Dodger Stadium, and surrounding parking lots. Read more here.
Los Angeles Dodgers owner Frank McCourt has reportedly been offered $1.2 billion for his team by L.A. Marathon founder Bill Burke and a group of Chinese investors. Read more here.
U.S. Bankruptcy Judge Kevin Goss has rejected a plan by Los Angeles Dodgers owner Frank McCourt to use a loan he arranged to sustain the franchise in bankruptcy. Goss said McCourt must negotiate with MLB for a loan instead, which would save the team millions of dollars. Read more here.
SmartMoney.com’s Jack Hough takes an interesting look at Frank and Jamie McCourt‘s operation of the Los Angeles Dodgers and the seven (7) personal finance lessons that can be learned from their financial dealings. BTW, we love the t-shirt idea! Read more here. Thanks to John Cerone for the link.
Bankrupcty Judge Kevin Gross signed off on a deal reached this afternoon between Los Angeles Dodgers owner Frank McCourt and MLB to provide interim financing to keep the franchise afloat. The selling of the Dodgers’ television rights was one of the primary sticking points. The parties are scheduled to reappear in court on July 20, where Judge Gross will reconsider the financing plan. Read more here and here.
Los Angeles Dodgers filed bankruptcy on Monday, and Major League Baseball immediately countered by filing a motion stating that it would provide an alternative financing plan for a loan to keep the team afloat with better terms than the loan secured by owner Frank McCourt. A bankrupcty hearing is scheduled for today at 1:30 p.m. Read more here.
Paid attendance at Dodger Stadium has reportedly dropped an average of 8,188 per game over last year’s figures, and this doesn’t include the thousands of no-shows on any given night. Certainly, this is in no small part due to the ugly goings on with the storied Los Angles Dodgers franchise. Read more here. Related news: Read about the city’s community-ownership proposal here. Read about MLB’s Continue reading
A man dropped his daughter in a failed attempt to catch a foul ball at Dodger Stadium on Saturday. The daughter was not physically hurt, but her feelings were certainly tweaked by dear old dad’s stunt. He’s lucky he didn’t get more than an elbow. Watch video here. Oh, and back to the business of the game, here’s an update on the Dodgers’ ownership saga.
No, this isn’t a new alternate ending for the Rush 2112 Grand Finale. (Sorry, we couldn’t resist the obscure, self-indulgent reference.) Because of concerns over “finances and operations” of the Los Angeles Dodgers, Commissioner Bud Selig announced today that Major League Baseball has taken over the team from owner Frank McCourt. Selig will appoint a trustee to oversee all aspects Continue reading