Bad news for Los Angeles Dodgers fans
The divorce proceedings of Frank and Jamie McCourt have been very ugly, and the news got a whole lot worse for Dodger fans this week as a Judge has ruled that the prenuptial agreement the two entered into is invalid, and that the team itself is communal property. This likely means the Dodgers will be put up for sale as it is doubtful either one of the McCourt’s has the money or capital to buy the other out. Say what you will about their divorce, but the McCourt’s have been pretty good baseball owners, achieving a lot without recklessly spending and their sale to unknown parties could not be good for the team or its fans.
The Dodgers are the 4th most valuable MLB franchise according to Forbes Sports Money. They are worth some 727 million dollars, and since Frank McCourt bought them for 355 million dollars in 2004 it seems likely he will take a loss when his half of the team is sold. It would be great if he could buy out his wife, and I am sure that is the first option but it does not seem likely he has the means to do so.
McCourt had a plan for the Dodgers. He and his front office team were able to make additional revenue by selling naming rights to different sections of Dodger Stadium while they waited out a bad economy to turn the area around Dodger Stadium into a recreation destination. The team has also upgraded their pre season home in Arizona and until the divorce seemed to be on the right track.
Related Links:
- The Business of Major League Baseball
- Joshua Lobdell.com
