"A New York Treasure" --Village Voice

Uh-Oh, It’s Magic

The Dodgers to go Earvin’s group. Here’s our pal Jon Weisman with the details.

I like this take by Craig Calcaterra over at Hardball Talk. And here is more from Dylan Hernandez in the L.A. Times.


1 Shaun P.   ~  Mar 28, 2012 9:02 am

I think this is probably the best outcome for the Dodgers.

That said, Jon's article alludes to McCourt actually making a profit from the sale. I don't know the workings of bankruptcy to know if that is accurate or not. But if it is, what a travesty. Its basically a blueprint for anyone to do a ridiculously high-leveraged purchase of a franchise, steal millions from it, and then turn around, declare bankruptcy and sell for a profit. The only thing stopping it is the diligence of the other owners, in not letting such a highly leveraged purchase occur.

I don't expect MLB will let anyone get away with such a highly leveraged purchase again - at least anytime in the next 20 years or so - but sheesh.

2 Sliced Bread   ~  Mar 28, 2012 9:37 am

When are they moving to Bklyn?

3 Chyll Will   ~  Mar 28, 2012 11:11 am

[2] When Wilpon uses up the last bit of karma that's kept the Mutts in his name.

4 rbj   ~  Mar 28, 2012 11:25 am

[1] It's a Delaware bankruptcy court (McCourt incorporated his LLC in Delaware) they are very sharp judges when it comes to business. Creditors are going to get 100% back before the judge will let McCourt see a dime of profit. Now, for $2 billion, I suspect there will be some meat on the bones for him.

5 RIYank   ~  Mar 28, 2012 11:52 am

Shaun, the only way an owner can pull this off is by selling at a much higher price than he paid. If you do that, you're going to make money pretty much no matter how bad you are in other ways.
I despise McCourt, too, but he didn't really steal money from the team. It was his money.

I bet the Steinbrenners are very, very happy today.

6 Eric McCauley   ~  Mar 28, 2012 11:57 am

I liked what TJ Simers had to say (also at LA Times). As he put it, two billion for anything, let alone a baseball team, is gross. Getting to and from that stadium for a game is a nightmare, and the new ownership ain't gonna change that. I'd rather kick it with Arte and the Halos.

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"This ain't football. We do this every day."
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