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May 1, 2012 2:15 pm

Bizball: The Frank McCourt Era Is Over

6

Maury Brown

A look at the sale of the Los Angeles Dodgers

It took a day longer than expected, but shortly after 10 AM PT on May 1, the sale of the Los Angeles Dodgers from Frank McCourt to Guggenheim Baseball Management LLC (“GBM”)  for $2 billion took place. The Dodgers’ new ownership includes Mark Walter as control person, Earvin “Magic” Johnson, and Stan Kasten as CEO of the organization.

The Los Angeles Dodgers stated, “The Dodgers emerge from the Chapter 11 reorganization process having achieved its objective of maximizing the value of the Dodgers through a successful Plan of Reorganization, under which all claims will be paid. The Dodgers move forward with confidence - in a strong financial position; as a premier Major League Baseball franchise; and as an integral part of and representative of the Los Angeles community.”

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It took several years for Frank McCourt to run the Dodgers into the ground, but Joe foresaw hard times ahead in LA back in 2005.

While looking toward the future with our comprehensive slate of current content, we'd also like to recognize our rich past by drawing upon our extensive (and mostly free) online archive of work dating back to 1997. In an effort to highlight the best of what's gone before, we'll be bringing you a weekly blast from BP's past, introducing or re-introducing you to some of the most informative and entertaining authors who have passed through our virtual halls. If you have fond recollections of a BP piece that you'd like to nominate for re-exposure to a wider audience, send us your suggestion.

"...the long-term prospects for this organization are terrible, and it's McCourt's fault." Those words could have been written yesterday, but Joe wrote them right here in a "Prospectus Today" column on November 3, 2005.


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November 11, 2005 12:00 am

Baseball's Odd Couple

0

Jon Weisman

With the two LA franchises seemingly moving in opposite directions, Jon Weisman wonders just how divergent those directions are.

This new version of The Odd Couple isn't really going to air (though similarly strange things happen every day), but the narration taps into a common feeling concerning the direction of Los Angeles' two major league baseball teams.

The Dodgers are the Felix Ungers--well-pedigreed, stylish if you don't mind the occasional ascot, but increasingly oblivious of their own flaws. The Los Angeles Angels of Anaheim, as they have come to be known with growing acceptance, were the Oscar Madisons--until they somewhat startlingly cleaned the mustard off their plaid sport coats and became winners.

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