Blog Entry

Report: McCourt settlement close

Posted on: November 1, 2011 8:19 am
Edited on: November 1, 2011 8:20 am
 
By C. Trent Rosecrans

The two-year battle between Dodgers owner Frank McCourt and Major League Baseball appears to be coming to a close, the Los Angeles Times reports. Citing "people familiar with the negotiations" McCourt is close an agreement with MLB to sell the Dodgers, Dodger Stadium and the surrounding parking lots.

The deal could be worth $1 billion or more, a record price for a baseball team.

However, one source told the Times that McCourt has yet to reach his final decision whether to sell or not, so the deal could still fall through.

McCourt is close to a settlement in his bankruptcy case, but may be forced to sell because even if he wins his bankruptcy case in court, he would have a difficult time selling the Dodgers' TV rights, settle his divorce and still have enough capital to make the improvements needed to the team and the stadium. He has already agreed to pay his ex-wife $130 million in a divorce settlement.

More McCourt coverage from Eye on Baseball. 

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Comments

Since: May 4, 2009
Posted on: November 1, 2011 6:01 pm
 

Report: McCourt settlement close

This is all a sick game with McCourt and it isn't over until everything is signed.




Since: May 27, 2011
Posted on: November 1, 2011 3:09 pm
 

Report: McCourt settlement close

Frank should have to walk out of Dodger Stadium on opening day in a Giants Jersey without his stadium security.



Since: Oct 4, 2007
Posted on: November 1, 2011 12:49 pm
 

Report: McCourt settlement close

I think MLB learned their lesson when they allowed Frank to own in the first place. If my memory is correct they thought he might be financially stapped then. The next ones will deffinately be financially stable.


maskxing
Since: Nov 1, 2011
Posted on: November 1, 2011 12:43 pm
This comment has been removed.

Post Deleted by Administrator




Since: Aug 17, 2007
Posted on: November 1, 2011 11:25 am
 

Report: McCourt settlement close

WOW

That would be great if they could get rid of that dead weight dragging them down! IF they get an owner who actually cares about the team they would be so much better off!



Since: Dec 28, 2006
Posted on: November 1, 2011 11:21 am
 

Report: McCourt settlement close

What happened to the Garvey/Hershiser group that was supposed to be putting a bid together?  That would be the best solution.



Since: Aug 16, 2006
Posted on: November 1, 2011 11:08 am
 

Report: McCourt settlement close

Mark Cuban should still have enough money since he doesn't have to pay any of his players this year. That will save him some cash.



Since: May 10, 2007
Posted on: November 1, 2011 10:56 am
 

Report: McCourt settlement close

Good luck trying to find a buyer with that has the financial porfolio to buy a $1 billion dollar team in this market.  They'll replace McCourt with another owner that will be highly leveraged in debt.  Or worse, MLB will own them for a while. 

Even then, it's still better than Frank. 

Man, what a disaster! 



Since: Sep 2, 2006
Posted on: November 1, 2011 9:28 am
 

Report: McCourt settlement close

Ptobably going to sell to a Chinese investor. Pretty soon Asia will own all U.S. sports.



Since: Sep 18, 2006
Posted on: November 1, 2011 9:20 am
This comment has been removed.

Post Deleted by Administrator



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