Truth & Rumors > MLB

McCourt stands to lose hundreds of millions

Views
6810
Comments
11

08:16 AM ET 10.14 | Frank McCourt would seem to have made a better than ideal purchase. Buy team, make money. That's the tried-and-true formula in major professional sports, where even an owner who loses money running his team can cash in when he sells. [McCourt] should be Exhibit A for this theory. McCourt bought the Dodgers for $421 million seven years ago, and the team arguably has doubled in value since then. Yet McCourt's decision to take the Dodgers into bankruptcy means he could be forced to walk away from the team with absolutely nothing. ... In a Bankruptcy Court filing last month, attorneys for Major League Baseball argued that "everyone wins" if the Dodgers are ordered sold, including his ex-wife and McCourt himself.

Los Angeles Times

Frank McCourt, Getty Images Frank McCourt, Getty Images
October 14, 2011  08:19 AM ET

McCourt had an offer for the team at 1.2B and refused. The man is not going to sell and will go down with the ship. Pathetic.

October 14, 2011  08:22 AM ET

... a not s aingle person is shedding a tear for him.

October 14, 2011  08:26 AM ET

The Strinbrenners should buy them, than Hank and Hal can each have a team... maybe move them back to Brooklyn... heh heh.

October 14, 2011  11:30 AM ET
QUOTE(#2):

... a not s aingle person is shedding a tear for him.

+1

October 14, 2011  12:05 PM ET

He screwed up the team, no wonder it is worth less...

October 14, 2011  12:32 PM ET

A few months ago, I lamented that it wasn't the Red Sox McCourt bought...now I am perfectly content with the Red Sox ownership situation.

October 14, 2011  07:05 PM ET
QUOTE(#6):

He screwed up the team, no wonder it is worth less...

The ball club and surrounding areas are worth upwards of a billion dollars. Try doing some research before these bone headed comments.

October 15, 2011  02:25 PM ET
QUOTE(#8):

The ball club and surrounding areas are worth upwards of a billion dollars. Try doing some research before these bone headed comments.

Read the article. His debts and tax liabilities could wipe out his equity. The Dodgers are worth more than he paid, but he likely owes about what it is now worth.

 
October 16, 2011  07:52 PM ET

c'mon McCourt, know when to leave.

Comment

Remember to keep your posts clean. Profanity will get filtered, and offensive comments will be removed.


Truth & Rumors

MOST POPULAR

  1. 1
    Kerr 'absolutely expects' Knicks offer
    Views
    1805
    Comments
    1433
  2. 2
    No return timetable for Lightning MVP
    Views
    994
    Comments
    218
  3. 3
    Yankees, Mets, Red Sox among Hanrahan hopefuls
    Views
    3785
    Comments
    168
  4. 4
    Niners table talks with Kaepernick
    Views
    1216
    Comments
    64
  5. 5
    ... So, L.A. will line up for Love and Durant
    Views
    6405
    Comments
    48

SI.com

SI Photos