Dodgers file for bankruptcy...

[salsadancer7]

If you own a business outright you can move money back and fourth between it and your personal account all you want. No fraud. Different from a publicly traded corporation or even a simple business partnership.

McCourt is a dope. Being a dope and a crook are two different things.

The fraud here, certainly in moral terms and perhaps in legal, lies where it usually does. At the foot of the least qualified person to hold an important position in this country. Bud "Light" (Kennesaw Molehill) Selig.

Fox owned the Dodgers, and wanted out. This McCourt idiot showed up and bought the team on credit, because he did not have the money. Selig could have said no, but cowtowed to NEWS Corporation. Then he made all of these deferred compensation deals. Then he and his wife took "loans" out from the team to finance their lifestyle. Something Selig had to approve. Then he and the Mrs. had a falling out and she whats her half, but he does not have it, because he really does not have any significant assets beside the team.

Selig screwed up, again.

Funny you mentioned that. They had a few baseball people on yesterday on 790 the ticket(Jason Stark, Buster Olney, Barry Larkin) and they all said the same thing. Only the owners that own teams more as a hobby than a source of income have seem to be smarter with their team budgets than the ones that look for owning a franchise as their way of making money.

 

[SandraC]

Funny how so many people have 20-20 hindsight. Funny how when McCourt hired Joe Torre, nobody was saying what a disgrace the Dodgers were. Funny how when the Dodgers traded for and agreed to pay Manny Ramirez...and he went on an epic tear for two months and brought the Dodgers to the NLCS, where they lost to the Phillies...nobody said what a disgrace the Dodgers were. Funny how nobody mentions that the Dodgers DID NOT WIN A PLAYOFF GAME from 1988 until when McCourt bought the team in 2004. Between then and now they went to the NLCS twice.

Was McCourt the model owner? Absolutely not. Not even close. But let's keep things in perspective here...

Is McCourt the first owner in professional sports to use debt service to finance a large part of a team? No. Not even close. This is one of the biggest divides between owners in the NFL...some have a ton of debt and need a better deal from the players than other owners do.

Is McCourt the first owner to move funds between back and forth between the team and for personal use? Of course not. MANY people think the bottom-feeders of MLB are doing this all the time, and are much less focused on putting a winning product on the field.

It seems like the divorce is the over-riding factor that sent the Dodgers over the edge, and it's ridiculous to think Selig should have seen that coming.


Sandra

 

[DodgerKing]

Nobody?

I have always maintained that I did not think Torre was all that good of a manager and did not know how to manage a pitching staff. I would rather they have kept Little. I have always maintained that McCourt was a real-estate guy that cared more about using the Dodgers as an investment and Dodgers stadium property as property investment than he was in the franchise itself . And I have always said I did not like Manny and criticized the trade when it happened.

 

[SandraC]

Nobody?

I have always maintained that I did not think Torre was all that good of a manager and did not know how to manage a pitching staff. I would rather they have kept Little. I have always maintained that McCourt was a real-estate guy that cared more about using the Dodgers as an investment and Dodgers stadium property as property investment than he was in the franchise itself . And I have always said I did not like Manny and criticized the trade when it happened.

True, but that's not what I mean. Everyone will never agree on a team's on-field hirings, but the point is that nobody said this was the end of the Dodgers when Joe Torre was hired, or Manny Ramirez was traded for.

My hockey and basketball team are owned by cable TV people. George Steinbrenner was a ship builder. The San Francisco Giants are owned by a lawyer. The Dallas Mavericks are owned by an internet geek. In order to buy a major league franchise in any sport, you have to be successful in another business field.

Bottom line is that everyone who says they now saw all the problems coming, or that Selig should have seen them coming, is speaking only in hindsight.


Sandra

 

[cosmo_kramer]

The amount of debt was a concern, but in the end, Bud was satisfied. At least he said he was.... From January, 2004:

McCourt, whose grandfather was part owner of the Boston Braves, announced Oct. 10 he had agreed to buy the team along with Dodger Stadium and adjoining real estate, plus training facilities in Vero Beach, Fla., and the Dominican Republic.

He had lengthy talks with officials of the commissioner's office and other owners, who were concerned about the amount of debt in the deal. News Corp. will retain a minority stake.

Selig is convinced McCourt has the money to make the team successful.

"We have more stringent ownership rules than we've ever had," Selig said. "The banks were satisfied. We were satisfied. There's no doubt in my mind that he is will be a good owner of a very storied franchise."

Owners approve $430M sale of team - MLB - ESPN

 

[cosmo_kramer]

If you try to order this jersey online at mlb.com, you get a stern error message:

Your current entry cannot be processed. Language deemed inappropriate, derogatory, or profane will not be accepted. Please create a new entry.

 

[Derwin0]

If you try to order this jersey online at mlb.com, you get a stern error message:

Your current entry cannot be processed. Language deemed inappropriate, derogatory, or profane will not be accepted. Please create a new entry.

HAHAHAHA, reminds me of when the NFL blocked Atlanta Falcon jersey's with the name Mexico.

 

[SamCdbs]

Baseball team ownership used to be either a profitable asset of a big corporation or the main or sole asset of the working rich. Those days are gone. The smart money got out of baseball. Now it works only as the plaything of people so wealthy they can accept losing money or, at best, making a profit that is a tiny fraction of what they would make in other industires.

McCourt was something of a hybrid. He really did not have the kind of crazy money, but NEWS wanted out and Bud looked the other way and let this deal get set up on credit. Had the divorce not happened, it probably would have been OK, but it was not the thing to do with an asset like the Dodgers.

Baseball needs to get it through to this guy that he is over. Sell the team, give the Mrs. her cut, pay your taxes and you will still have plenty to live on. Quietly.

 

[SandraC]

Baseball needs to get it through to this guy that he is over. Sell the team, give the Mrs. her cut, pay your taxes and you will still have plenty to live on. Quietly.

I'm sure Bud Selig and the rest of MLB is working on this.


Sandra

 

[cosmo_kramer]

Another sad day for a proud franchise:

The Los Angeles Dodgers have fired former first baseman Steve Garvey from their marketing and community-relations departments, Garvey confirmed to 710 ESPN Radio on Friday.

The move appears to be a reaction to Garvey having made public his desire to be part of a group that would purchase the club if owner Frank McCourt, who has filed for bankruptcy, is ultimately forced to sell the Dodgers.

Steve Garvey fired by Los Angeles Dodgers - ESPN Los Angeles