Dodgers to be sold

[Outshined_One]

Link

 

McCourt and Major League Baseball have agreed to seek approval from the U.S. Bankruptcy Court for an auction of the Dodgers, according to a joint statement issued late Tuesday night. The sale is expected to include the team, Dodger Stadium and the surrounding parking lots, a package bought by McCourt for $421 million in 2004 and likely to sell now for two to three times as much.

 

"The Los Angeles Dodgers and Major League Baseball announced that they have agreed today to a court-supervised process to sell the team and its attendant media rights in a manner designed to realize maximum value for the Dodgers and their owner, Frank McCourt. The Blackstone Group LP will manage the sale process," the statement read in its entirety.

[SouthSideRyan]

Terrible news.

[OleMissCub]

pass the hat. i think we can do it.

[Guest]

Terrible news.

 

Yep. I've heard that Cuban won't have to go through the MLB approval process in an auction.

[Sammy Sofa]

Terrible news.

 

Yep. I've heard that Cuban won't have to go through the MLB approval process in an auction.

 

Wait, seriously?

 

Fuuuuuuuuuuuuuuuuuuuck.

[KingCubsFan]

Terrible news.

 

Yep. I've heard that Cuban won't have to go through the MLB approval process in an auction.

 

Wait, seriously?

 

[expletive].

Edited November 2, 2011 by KingCubsFan

[Guest]

Terrible news.

 

Yep. I've heard that Cuban won't have to go through the MLB approval process in an auction.

 

Wait, seriously?

 

[expletive].

 

 

At least we'd only have to deal with them in the crapshoot that is the playoffs. We can still rule the NL Central.

[Sammy Sofa]

I've had to say goodbye to Aramis and Kemp in the last 24 hours.

 

These are sad times.

 

Theo help me, I need to see some lightness in the dark.

Edited November 2, 2011 by Sammy Sofa

[Guest]

We could also hope that the price goes out of what Cuban is willing to spend. Didn't he bow out of the race with the Cubs when it got to be more than he thought the organization was worth?

[davearm2]

Terrible news.

 

Yep. I've heard that Cuban won't have to go through the MLB approval process in an auction.

I highly doubt MLB is going to relinquish their approval process here. Makes no sense.

 

Unless you're saying that Cuban has essentially been pre-approved since he's been through that process previously.

[Tracer Bullet]

Can we buy Kemp thru the bankruptcy? Quick, someone buy a secured creditor's interest and demand Kemp as payment.

[SouthSideRyan]

I'd bet money Cuban doesn't wind up buying the Dodgers

[Guest]

Terrible news.

 

Yep. I've heard that Cuban won't have to go through the MLB approval process in an auction.

I highly doubt MLB is going to relinquish their approval process here. Makes no sense.

 

Unless you're saying that Cuban has essentially been pre-approved since he's been through that process previously.

 

 

I'm saying I've heard that MLB doesn't have a choice due to laws regarding the bankruptcy auction.

[davearm2]

Terrible news.

 

Yep. I've heard that Cuban won't have to go through the MLB approval process in an auction.

I highly doubt MLB is going to relinquish their approval process here. Makes no sense.

 

Unless you're saying that Cuban has essentially been pre-approved since he's been through that process previously.

 

 

I'm saying I've heard that MLB doesn't have a choice due to laws regarding the bankruptcy auction.

So if Pete Rose puts in the high bid, he gets the team?

[Guest]

So if Pete Rose puts in the high bid, he gets the team?

 

 

What does the Texas Rangers' bankruptcy case mean for the Dodgers?

 

One very significant aspect of the Rangers' foray into bankruptcy court is that the judge has ordered the team sold at auction. This conflicts with Major League Baseball's constitution, which requires the affirmative vote of at least 75 percent of ownership before allowing control of a team to change hands. Should the court-ordered sale go through, MLB's ability to restrict sales by requiring ownership approval will be weakened. This is good news for Jamie McCourt, who is unlikely to ever gain the votes necessary to own a team under the current system. She has maintained her ability to assemble an investment group capable of buying out Frank's interest in the Dodgers. If the court orders the club sold, and Jamie can pony up the cash, she might rely on the Rangers' sale to get past ownership approval.

 

Vague but it's the first thing I found addressing it. I'll look for more.

 

http://sports.espn.go.com/los-angeles/mlb/news/story?id=5403402

[Guest]

Saw a tweet that said Cuban had some interest if the price was under a billion, no interest if it was over 1 billion.

[SouthSideRyan]

If Cuban didn't buy the Rangers, he's not going to buy the Dodgers.

[Guest]

If Cuban didn't buy the Rangers, he's not going to buy the Dodgers.

 

 

Isn't it possible he just values the Dodgers a lot more (just like he did the Cubs) than he valued the Rangers? I mean, if he's publicly saying he's interested at under a billion... I don't see why he wouldn't go for it if the price ends up right.

[Sammy Sofa]

Yeah, I could definitely see him having interest in a legacy/"name" franchise like the Dodgers as opposed to the Rangers.

[El Duderino]

the guy that runs dodgerblues must be thrilled.

[davearm2]

How funny would it be if Jamie McCourt can manage to swing this buyout.

 

You'd have to think that would take things from bad to worse for the Dodgers.

[Guest]

Magic Johnson's group bought them for $2.15 billion.

 

http://online.wsj.com/article/SB10001424052702303404704577308483250633906.html

[SouthSideRyan]

Think about how evil Jeff Loria is, take a little off of that and you have Frank McCourt. I'm sickened that he's making a killing off of this deal.

 

Where's that guy that was arguing with me that Ricketts paid twice as much as what the Cubs are worth?

[Guest]

Think about how evil Jeff Loria is, take a little off of that and you have Frank McCourt. I'm sickened that he's making a killing off of this deal.

 

Where's that guy that was arguing with me that Ricketts paid twice as much as what the Cubs are worth?

 

McCourt bought the Dodgers for $430 million. And he's going to keep the extremely valuable parking lots around the stadium. Incredible.

[erik316wttn]

Magic Johnson's group bought them for $2.15 billion.

 

http://online.wsj.com/article/SB10001424052702303404704577308483250633906.html

 

Magic is positive this is the right thing to do.

 

Because if anyone knows about being positive.....

 

 

 

....too soon?

 

Seriously, though, no sports franchise in any league is worth $2 billion. Not a single one.