It is kind of crazy that Frank McCourt bought the LA Dodgers & surrounding land for $430 million in 2004 and just sold them for a record $2 billion. You may remember last June when the Dodgers were forced to file for bankruptcy after the baseball Commissioner, Bud Selig, refused to approve a deal with Fox Prime Ticket worth over $2 billion. McCourt was in the middle of messy divorce and Selig didn’t want the money from the deal to be for McCourt’s personal use. Which meant the Dodgers had to file for bankruptcy and take a $150 million dollar loan from the MLB.
Don’t worry McCourt will still be involved . . . with the parking lot and some surrounding land that he will partially own. The group who bought the Dodger is head by former Laker and HIV walking miracle man, Magic Johnson. LA locals seem pretty pleased with the deal and hope that Johnson will finally restore the Dodgers to their former glory. Although it seems kind of absurd to buy a team that can’t even sell tickets for $2 billion, Johnson’s group stands to make a ton of money. Remember that $2 billion dollar deal with Fox Prime Ticket, well now that the Dodgers have a new owner it could be increased. Not only that but they could sell the broadcast rights to rival Time Warner for even more money.
If I were the new Dodger’s owners the first thing I would invest in is security.I think the fear of being shot has kept people from Dodger Stadium.
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