Thursday, January 5, 2012

Dodger Buying 101

I didn't write much about the Dodgers last season - nothing worth writin' about there. But the sports world is a'buzzin with the news yesterday that Joe Torre has quit his executive job with MLB to pursue ownership, with Rick Caruso, of the Dodgers.

Bill Shaikin has an excellent article in the LA Times this morning on the status and hard facts of the ownership process. It begins:

The Dodgers ownership derby is fast becoming the most intriguing reality show in Los Angeles with athletic legends, civic icons and assorted billionares jockeying for control of a team mired in bankruptcy proceedings.

As of today, according to the Times, the following groups have expressed interest in buying the Dodgers:

Joe Torre, with developer Rick Caruso
Magic Johnson
Mark Cuban
Steven Cohen ("billionarie eight times over")
Dennis Gilbert ("onetime agent for Barry Bonds and champion of amateur baseball in LA)
Ron Burkle and Tom Golisano
Peter O'Malley*
Orel Hershiser*
Fred Claire*

*while these three men are connected by the fact that they were all involved with the Dodgers during the last World Series won (1988), they are bidding as part of separate groups.

Some other factoids and calendar dates:

1. Initial bids are due January 23. MLB has agreed to approve up to 10 bids. BUT, the new owner will be selected by Frank McCourt, NOT Bud Selig.
2. The sale is expected to command $1 billion for the team.
3. McCourt has agreed to complete the sale by April 30.
4. While the team is one of the jewels of baseball and revenue at the park was $289 million in 2008 alone, the real nugget are the television rights. The Dodgers' contract with Fox Sports expires after this year.

For the complete article, go here.

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Cap'n Bob said...

Though not a fan of the Dodgers, I hope they can smooth out their business side and concentrate on baseball.

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