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 Post subject: Magic buys the dodgers
 Post Posted: Tue Mar 27, 2012 8:04 pm 
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The Dodgers have reached an agreement to be sold to Magic Johnson's bidding group, according to a baseball source. via Ken Gurnick

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 Post subject: Re: Magic buys the dodgers
 Post Posted: Tue Mar 27, 2012 8:12 pm 
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sold for 2 BILLION DOLLARS

https://twitter.com/#!/dkberman/status/ ... 9549698048

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 Post subject: Re: Magic buys the dodgers
 Post Posted: Tue Mar 27, 2012 8:28 pm 
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Frank McCourt School of Business:
Step 1- Buy baseball team with money you don't have.
Step 2- Screw the team up. Prefer to use a certain 4 letter word but don't think that is allowed here.
Step 3- Make $1.5 BILLION.

We need to elect this man president of the United States.


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Tue Mar 27, 2012 8:58 pm 
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According to this ESPN article, McCourt will still make "several hundred million dollars" even after all the debts/etc. are paid off. Amazing that someone can run a business that badly and still make an enormous profit. Sigh...

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 Post subject: Re: Magic buys the dodgers
 Post Posted: Wed Mar 28, 2012 12:05 am 
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Ryan wrote:
According to this ESPN article, McCourt will still make "several hundred million dollars" even after all the debts/etc. are paid off. Amazing that someone can run a business that badly and still make an enormous profit. Sigh...


Well...if he made that much money, not sure if he ran it that badly. Isn't the point of business to make money ?

Of course if you are not concerned with dignity, legacy, class, etc, it's a lot easier.


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Wed Mar 28, 2012 7:32 am 
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$2 Billion and you only get 1/2 of the parking lots.

SUCKERS. :lol:


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Wed Mar 28, 2012 10:04 am 
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Jayson Stark on the Dodgers new ownership and what it means. Uh oh.

1. There will actually be money in the baseball budget again. (What a concept.) So the Dodgers figure to be extremely aggressive at the trading deadline if they're in contention, especially if there's a team looking to dump a big salary that cares more about payroll relief than getting a big player haul back.

2. The Dodgers are likely to begin a major push to get back involved in Latin America and the international talent market. Once, the Dodgers were the dominant franchise in those circles. And their current front office has been trying for several years to re-establish that dominance. But ownership consistently shot down those efforts. And the result, according to Baseball America, is that the Dodgers ranked dead last in the major leagues in international signings last year, at just $177,000. No other franchise was within $600,000 of them. That'll change.

3. One baseball official predicted the new owners would move quickly to "revitalize" Dodger Stadium, which has deteriorated almost to embarrassing depths under McCourt. No construction projects would begin in-season. But expect immediate enhancements to stadium security and ambiance.

And that, thankfully, will be just the beginning. The goal of the new owners will be this: To transform this team back into being one of this sport's elite franchises.


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Wed Mar 28, 2012 10:07 am 
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This sucks...probably good for baseball, but it will make things tougher for us.

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 Post subject: Re: Magic buys the dodgers
 Post Posted: Wed Mar 28, 2012 10:17 am 
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We can always compete for that extra Wild Card spot.


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Wed Mar 28, 2012 11:02 am 
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The Shadow wrote:
2. The Dodgers are likely to begin a major push to get back involved in Latin America and the international talent market. Once, the Dodgers were the dominant franchise in those circles. And their current front office has been trying for several years to re-establish that dominance. But ownership consistently shot down those efforts. And the result, according to Baseball America, is that the Dodgers ranked dead last in the major leagues in international signings last year, at just $177,000. No other franchise was within $600,000 of them. That'll change.


This one means nothing. Thanks to the new CBA you can spend very little in the draft or international signings without being penalized. Every team is going to be on the same step.


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Wed Mar 28, 2012 2:10 pm 
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shoewizard wrote:
Well...if he made that much money, not sure if he ran it that badly. Isn't the point of business to make money ?

Of course if you are not concerned with dignity, legacy, class, etc, it's a lot easier.


You're right, of course. I was speaking in terms of ethics/integrity.

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 Post subject: Re: Magic buys the dodgers
 Post Posted: Thu Mar 29, 2012 1:32 pm 
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shoewizard wrote:
Ryan wrote:
According to this ESPN article, McCourt will still make "several hundred million dollars" even after all the debts/etc. are paid off. Amazing that someone can run a business that badly and still make an enormous profit. Sigh...


Well...if he made that much money, not sure if he ran it that badly. Isn't the point of business to make money ?

Of course if you are not concerned with dignity, legacy, class, etc, it's a lot easier.



Money talks and .......... ;)


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Fri Apr 06, 2012 5:27 pm 
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Deal in Trouble ?


Quote:
Major League Baseball officials have expressed concern that Guggenheim Baseball Management, the winning bidders for the Los Angeles Dodgers, has been slow to produce the details of the bid and the structure of its management team, according to several sources familiar with the sale process.

Several individual owners have joined baseball officials in questioning why the Guggenheim group, led by Mark Walter, Stan Kasten and Magic Johnson, has not filed a more detailed Purchase and Sale Agreement more than a week after the group was selected from among three finalists by Frank McCourt, the outgoing owner who is selling the club through U.S. Bankruptcy Court.

The group was expected to file a Purchase and Sale Agreement with MLB earlier this week, but postponed the filing for two days before submitting a short form agreement that lacked what MLB regards as most of the necessary details. Of particular interest to MLB is a breakdown of where the money is coming from to cover the $2.15 billion sale price and what role McCourt has in the ownership, control and profit-sharing of the Dodger Stadium parking lots.

Until MLB knows and reviews those details, according to sources, concern mounts about how the deal is financed and especially if McCourt stands to continue to profit from Dodger-related operations under the new ownership.


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Mon Apr 09, 2012 1:22 pm 
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If this falls through....wow

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 Post subject: Re: Magic buys the dodgers
 Post Posted: Tue Apr 10, 2012 10:32 am 
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More here on this deal being up in the air

http://dealbook.nytimes.com/2012/04/09/ ... by-others/


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Tue Apr 10, 2012 10:58 am 
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:shock:
If this falls apart, I think the organization may start a tailspin, which would ultimately be good for any of their divisional rivals. On XM I was listening to one of the Dodger's games for a little while to see if they were going to talk about the sale, and the announcers seemed quite full of themselves talking about the potential ramifications of being flush with cash (they can go on a spending spree for big talent) and having Magic's name attached. If that all goes away, wow.

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 Post subject: Re: Magic buys the dodgers
 Post Posted: Tue Apr 10, 2012 11:16 am 
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Baseball embarrasses itself again and again. This looks to turn into a larger McCourt mess.

http://dealbook.nytimes.com/2012/04/09/ ... by-others/


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Tue Apr 10, 2012 2:37 pm 
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this just gets better


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 Post subject: Re: Magic buys the dodgers
 Post Posted: Fri Apr 27, 2012 2:29 pm 
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Quote:
But if rich guys are going to buy their toys, they should probably use only their own money.


Regardless of their track record, if I had any holdings in Guggenheim, I would have concerns about how the money was being "invested."

State insurance regulators where Guggenheim does business would do well to look into this situation.

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