OT: Dodgers To Reduce Payroll, Double Ticket Prices
Yep, you read that right. Frank McCourt plans to spend less in the coming years on payroll than he did last year. He's spending 40% of revenue on it now, and plans on reducing it to 25% while doubling ticket prices over that span. All this comes to light due to papers filed in the divorce. Who now wants to say the Dodgers will be unaffected by the Divorce That Keeps On Giving?
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BeerCub
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This is definitely a sure bet that the fanbase will continue to be happy and strong!
What’s the current status on Dodgers Stadium renovation now?
Start Sean Marshall!!
Renovation is on indefinite hold
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
Good.
Let’s make them an offer for Kemp or Ethier.
"You can observe a lot just by watching." ~ Yogi Berra
We might have to get Aaron Miles back
Miles and Fuld for both of ’em!
"Baseball is almost the only orderly thing in a very unorderly world. If you get three strikes, even the best lawyer in the world can't get you off." ~ Bill Veeck
by Musicdude10 on Feb 23, 2010 10:42 AM CST up reply actions
"ticket prices are relatively inexpensive and there is substantial room for prices to increase without resulting in a decline in attendance,"
I think McCourt needs a lesson in economics. The demand for tickets is already at a low (i.e. the Cubs a few days ago), and the product you are giving your fans is guaranteed to be worse now because of pay cuts.
That makes no sense whatsoever
Start Sean Marshall!!
I found it interesting that the Trib
declared ticket sales “strong.” Apparently, they did not compare 2010 sales to previous years.
Hey, it's a new century!
by cowsarecool220 on Feb 22, 2010 2:48 PM CST up reply actions
Not necessarily pay cuts...
If he’s right and the demand for Dodgers tickets is such that they really can double ticket prices without adversely affecting attendance, then their overall salary budget could easily go up. You’d be looking at 25% of a much bigger pie, remember. I suppose it would depend on what proportion of team revenues is made up of ticket sales.
by Limey Cub Fan Jay on Feb 22, 2010 5:00 PM CST up reply actions
He's way, way off.
Dodgers NLCS tickets were going for far under face value on the secondary market last year.
Well Ned is finally getting his commupance
for ruining 2006 for the Cubs . First he “stole Furcal” forcing the Cubs to make the bad trade for Pierre, then Furcal injures Lee, and to top it off he " steals" Maddux in August. Have a nice season Ned.
Perhaps the the Cubs can poach Kim Ng. I believe contract negotiations are her specialty. Jim could always use some help there.
"I am not ashamed to say I love Greg Maddux" - Jim Hendry
Me either Jim
No love for an ex-bleacher bum?
I'm singing, "GO CUBS GO! GO CUBS GO!" -- DrCrawdad on Jun 12, 2009 7:23 AM CDT
Facts are meaningless. You could use facts to prove anything that's even remotely true! -- Homer J. Simpson
by Shanghai Badger on Feb 22, 2010 3:36 PM CST up reply actions
No!
My sig from August to October of 2006 was
“I HATE NED COLLETTI”
"I am not ashamed to say I love Greg Maddux" - Jim Hendry
Me either Jim
by Doggie Stalker on Feb 22, 2010 4:24 PM CST up reply actions
Did McCourt...
…go to the Bill Wirtz school for owners?
"I don't like them fellas that drive in two runs but let in three" Casey Stengel
Well, his games are on TV.
But otherwise, probably yes.
"You can observe a lot just by watching." ~ Yogi Berra
Give him time...
…he may pull them off and put them on “pay per view”.
"I don't like them fellas that drive in two runs but let in three" Casey Stengel
It's crap like this that has made the Angels...
…more and more appealing here in SoCal. The Dodgers charge $15 for parking and banned tailgating while the Angels charge $8 and allow tailgating. Beer and concession prices are also significantly higher in LA then in Anaheim. It’s no surprise McCourt is despised by fans while Arte Moreno is loved!
"I always tell the truth -- Even when I lie" -- Tony Montana
Just wait...
… till Moreno’s lease is up in Anaheim. Once that happens, watch him try to build a new ballpark in LA County and drop the “of Anaheim” designation.
"You can observe a lot just by watching." ~ Yogi Berra
I can't imagine him trying in LA County.
There are well over 3 million people here in OC and the Angels do very well in attendance. I’m sure a large portion of that fan base would be alienated if they went to LA. IIRC, he can’t get out of his lease for several more years — That lease was negotiated when the city paid for the massive renovation after the Rams left for STL.
If I had to guess, any new stadium would probably be built in the parking lot of Angel Stadium — It’s a very good location that’s near 2 major freeways. IMHO, if the NFL has been unable to build a stadium in LA County for all these years, it seems like it would be doubly difficult for the Angels.
"I always tell the truth -- Even when I lie" -- Tony Montana
Maybe.
In any case, I have heard Moreno wants out of the lease so he can drop the “of Anaheim” and make his team more a LA-wide team. Maybe he’d build a little further north in Orange County.
"You can observe a lot just by watching." ~ Yogi Berra
If I recall, Moreno speculated
he could build just a few miles north just off I-5, the Santa Ana Freeway in La Mirada — that suburb is just a taste north of the LA/Orange County line.
This was mentioned was after the flack he took from Anaheim after adding “Los Angeles” to the team’s monicker.
by San Diego Smooth Jazz Man on Feb 22, 2010 3:53 PM CST up reply actions
That's what I remember.
I wouldn’t be surprised if he does it.
"You can observe a lot just by watching." ~ Yogi Berra
Absolutely no basis
for this speculation. The Angels love Anaheim, it’s a top tier stadium, and their attendance is very strong. Only the Yankees and Dodgers outdraw the Angels. The lease runs through 2029, although there is an opt out in 2017, there is no indication the Angels have any plans to exercise it.
Oh, I think they will
Angels Stadium is 44 years old, making it the fourth oldest stadium in baseball. Yes, it got a nice remodeling in 1996, but if they don’t opt out after 2016, they’ll be playing in a 63 year old stadium by the time the lease runs out. And while Angel Stadium is nice, it’s not exactly the classic that the three older stadiums—Fenway, Wrigley and Dodger Stadium—are.
Now maybe they’ll negotiate a four year extension while they build a new place. And it’s certainly possible, maybe even likely, that they stay in a new stadium in Anaheim. But the Angels will be looking for a new stadium sometime this decade.
by Josh Timmers on Feb 22, 2010 6:11 PM CST up reply actions
I only disagree in one part
Dodger Stadium may be “classic” – but it’s a stupid park. Just my opinion, but… I said it.
"You’re playing a baseball game. You’re not playing Tiddlywinks. There is competition, for God’s sake."— Lou Piniella
Phillies & Cardinals also outdraw the Angels last year
and the Mets used to before they had their season from hell. Still a top draw but a little further back. Also year in year out the Cubs and Red Sox are in a league of their own in the percentage of seats they sell.
"I am not ashamed to say I love Greg Maddux" - Jim Hendry
Me either Jim
by Doggie Stalker on Feb 22, 2010 6:25 PM CST up reply actions
OK I'll play along
last year the Phillies played to 102.2% capacity, surpassing both the Red Sox and Cubs.
They did but I that is why I wrote "year in and year out"
like most teams the Phillies get a HUGE bump when they win, especially after they win a WS , but prior to that their attendence was nothing special
"I am not ashamed to say I love Greg Maddux" - Jim Hendry
Me either Jim
by Doggie Stalker on Feb 22, 2010 10:24 PM CST up reply actions
Huge Bump?
Phillies were 97% in 2008. And getting back to the Angels, last year with the sucky economy, was the first year the Angels have not been above 90% since 2003. And, of course, they play in a much bigger stadium than either the Red Sox or Cubs.
"Much bigger"?
Capacity of Angel Stadium: 45,113
Capacity of Wrigley Field: 41,160
Bigger? Yes. “Much bigger”? No.
"You can observe a lot just by watching." ~ Yogi Berra
Hmmm
is this the same guy that told us last week that a 15% difference in attendance was not in the same ballpark?
I think the Angels playing to 90+% capacity in a stadium that is 24% larger than Fenway and 10% larger than Wrigley is signficant. Especially in the context of doggiestalker’s questionable assertion that the Red Sox and the Cubs are in a different league in terms of % of capacity numbers.
Um YEAR in and YEAR out.
In 2008 the Phillies WON the WS , in the years BEFORE that they were not at the top.
"I am not ashamed to say I love Greg Maddux" - Jim Hendry
Me either Jim
by Doggie Stalker on Feb 23, 2010 9:11 AM CST up reply actions
Um
you said the Phillies get a huge bump AFTER they won the World Series. Obviously that wasn’t the case, In fact, their attendance has increased every year since 2005.
My point actually was that the Cubs and Red Sox
were in a league of their own in percentage of seats they sell year and year out. You said the Phillies outdrew them and I pointed this was only when after the WS when yes I should have said the years DURING and after the WS. However the Phillies are not even close to the Cubs or Red Sox in consistantly selling out the highest percentage of tickets even in off years.
"I am not ashamed to say I love Greg Maddux" - Jim Hendry
Me either Jim
by Doggie Stalker on Feb 23, 2010 4:57 PM CST up reply actions
The Cubs did not routinely sell out until after 2003.
"You can observe a lot just by watching." ~ Yogi Berra
You seem to be a might confused
about what the phrase “year in and year out” means. When you say “a league of their own” and “year in and year out”, that means you could go to any year and find nobody close. As I have shown, that is clearly not the case. “Year in and year out” means there are no exceptions…and there are.
I think you're beginning to see where her ticket rants are coming from.
"You can observe a lot just by watching." ~ Yogi Berra
Anything's possible, but...
…I can’t think of where he’d build it. The location in Anaheim is reasonably close to fans in south Orange County — Also, being right next to the 57 FWY makes it accessible to folks in Riverside and San Bernardino Counties. Aside from that, there is a Metrolink train station located in Angel Stadium’s parking lot — So it just seems it would be ludicrous for Moreno to try and re-locate.
Moreno took a lot of heat for the “LA of Anaheim” thing — Including a long, ugly, and unsuccessful lawsuit by the City of Anaheim. But as time has gone by, you here less and less about it. Apparently the name change was a HUGE success, as the Angels’ team value has more than doubled since he bought the club.
"I always tell the truth -- Even when I lie" -- Tony Montana
Yeah
It’s not like Arte paid much of a price for that. The team is now worth almost three times what he paid for it—a “paltry” $180 million. Of course, more went into that than just the name change. But it was all a part of his strategy to market the team throughout the Southland and not just in Orange County as Disney and Autry mostly did.
What’s laughable is that Disney kept insisting that the Angels were a “small market team.” They were only a small market because they marketed them small.
by Josh Timmers on Feb 22, 2010 5:57 PM CST up reply actions
He'll go wherever they'll give him a stadium
He’ll insist that the team be called the “LA Angels” but he won’t insist on being in LA County. If Anaheim will help him with a new stadium, he’ll stay there as long as they don’t insist on Anaheim being in the name.
Don’t forget, the Angels are only in Anaheim because Long Beach insisted that the team be called the Long Beach Angels in exchange for a new stadium. Back then, Anaheim didn’t care what the team was called as long as they played in Anaheim.
by Josh Timmers on Feb 22, 2010 5:51 PM CST up reply actions
Tickets for alcohol consumption??? Of course!
It’s illegal to drink in the parking lot — It is city property. Cooking food on BBQ’s and tailgating, however, is no problem —None of this is allowed in LA.
Me personally, I’ve never had a problem with cops at Angel Stadium — We keep our beers in Dixie cups and do our best to keep them out of sight — The morons starting fights and acting stupid are the ones that are hassled by the cops.
You’re right though, the cops absolutely write tickets for open containers — They cost $145 — I know a few people that have gotten them — You see, Anaheim makes all kind of money off of Angel fans! Just think of all the DUI’s they get outside the park!
"I always tell the truth -- Even when I lie" -- Tony Montana
Bad for Dodgers fans...
…makes me happy.
"Pounding sand since 1982...."
by cubswynn on Feb 22, 2010 2:54 PM CST reply actions 1 recs
Right here.
Again, we will have to wait and see. I doubt if attendance will dropvery much in any event. Bad economy or not, there’s a huge market of people with a lot of money in Los Angeles and they are not going to Anaheim to see baseball. (They may be watching it, but they are not driving from Santa Monica to Anaheim, unless they are going to Disneyland.
There’s no way to compare the San Diego market to the Los Angeles market. Two different worlds.
by San Diego Smooth Jazz Man on Feb 22, 2010 3:28 PM CST up reply actions
Depends on how much he raises prices...
… while making the team worse.
"You can observe a lot just by watching." ~ Yogi Berra
This is actually even stranger
The information is taken from Jaime McCourt and was prepared as part of a plan to get Chinese investors?
Here is a favorite bit, the response of the Dodgers lawyer to the news of raising prices and lowering payroll.
“It is prudent for a well-run business to engage in ongoing financial modeling and planning,” Grossman wrote. "When the Los Angeles Dodgers have financial information relevant to the public and the fans, it will be made public by the Dodgers. "
Damn these people need to take public relations 101.
"I am not ashamed to say I love Greg Maddux" - Jim Hendry
Me either Jim
Bad day for Dodger fans continues.
Manny thinks this will be his last season with them.
http://sports.espn.go.com/los-angeles/mlb/news/story?id=4935675
"Pounding sand since 1982...."
Um that might be good news for them.
"I am not ashamed to say I love Greg Maddux" - Jim Hendry
Me either Jim
by Doggie Stalker on Feb 22, 2010 4:25 PM CST up reply actions
Exactly
He’s pulling his Manny being Manny crap already. There’s no way they’re going to re-sign him after this year. His “skills” in the outfield are atrocious, and he’s not the hitter he used to be. What he’ll find out is no one will care this time if he tanks it. His contract is deferred all the way to the apocalypse, so if he deliberately underperforms chances are better they might, maybe,posibly just jettison him at some point.
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
plus now he has been outed for juicing
and i am curious to see how much his bat drops off the table (or not)
newest member of the Austin Variety Show www.austinvarietyshow.com/
Maybe.
But if you’re asking me if the Dodgers are better with or without him, I think they are a better team with him. Of course one needs to consider the price tag when making that assessment, but that should go without saying at this point.
"Pounding sand since 1982...."
not might be
IS. In fact, this isn’t news at all. The Dodgers are highly unlikely to bring Manny back at anything close to salary he would want. After this year, Manny’s future in baseball, such as it is, is as a DH. He knows it, his agent knows it and the Dodgers know it.
Now you got me thinking...
The combination of Manny being Manny plus Arte not being shy about sticking it to the Dodgers makes me wonder if Manny will be wearing an Angels uniform next year.
Lou Brown: "My kinda team, Charlie, my kinda team..."
Not a chance in hell
Neither Moreno nor Scioscia would tolerate him. Moreover, while Hideki Matsui only signed a one year contract, they’re already taken with him and his bat. if he has a decent 2010, he’ll be back, Bobby Abreu set the tome for that type of thing with them. While the Angels aren’t averse to signing older veterans, they have to be “character guys”, not guys who are characters. This is the team who told a relatively productive Jose Guillen to stay home in the middle of a pennant race not too long ago.
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
Honestly,
I would have thought it bad form for the Dodgers to even consider re-signing him after this season.
by Damen Jackson on Feb 22, 2010 5:37 PM CST up reply actions
See my response above.
It should go without a saying at this point that it all depends on the price tag, but I think the Dodgers are a better team with Manny than without.
"Pounding sand since 1982...."
You have to take all of this with a grain of salt.
To this point, all of the filings (including this one claiming payroll will decrease and ticket prices will increase) in this case have come from the teams former CEO and the soon to be ex-wife of Frank McCourt, the guy that is technically, according to the MLB, the owner and decision-maker for the team.
She’s also asking for $988,845 in monthly support while the divorce is finalized.
Everything we’ve seen so far has been the work of lawyers hired by this woman in a effort to wrestle control of the team away from her husband. When he files his own stuff, it’ll likely be just the opposite…. he runs the team beautifully, spends all the money in all the right places, and hugs lots of orphans while she is busy stealing everything and kicking kittens wearing dodger jerseys.
The truth is, as always, somewhere in the middle… everything i’ve read indicates that while the team itself isn’t in trouble and should be able to survive on its revenue streams, chances are after Cali’s judges are done looking at this, the post-nup, and all other factors, we’ll find NEITHER OF THEM, post divorce, is really “rich” enough to own the team by MLB standards. Should be fun to watch.
Dum spiro spero... | Follow me on twitter or else: @andrewjstone.
How about this as proof that you shouldn't take much from either of these people seriously...
“The McCourts have paid no federal or California state income taxes since at least 2004.”
“The McCourts might have used revenue from the Dodgers “as if it was their personal ATM or credit card” to support their lavish lifestyle."
http://www.latimes.com/sports/la-sp-mccourts19-2010feb19,0,2315522.story
Dum spiro spero... | Follow me on twitter or else: @andrewjstone.
by AndrewJStone on Feb 22, 2010 3:50 PM CST up reply actions
Not sure how.....
…. these two things show one shouldn’t take what they say seriously.
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
What?
Nothing strikes you as “off” about taking the word of a couple of people who systematically avoid paying taxes while living on nearly a two and a half million dollars a month as a couple?
I, personally, don’t trust a thing these people say. Either one of them. About anything.
Dum spiro spero... | Follow me on twitter or else: @andrewjstone.
by AndrewJStone on Feb 22, 2010 5:38 PM CST up reply actions
Read closer
While these are from documents filed by Jamie, the documents themselves were prepared by the Dodgers sometime ago for other business purposes. Jamie’s not alleging the Dodgers are going to double prices and decrease payroll, she’s simply the one exposing that fact via her filing. They do indeed intend to do this as a business plan, unless this shames Frank out of it. Marshall Grossman, Frank and the Dodgers’ lawyer, confirmed as much in the article.
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
I've read closely.
I’m sure the dodgers have all sorts of documents claiming all sorts of things from all different points in their history, and any number of them could be used to point in any different direction. Which was exactly my point.
Jamie filed with this stuff, and he will file sometime soon with a document that says that the Dodgers plan to double payroll and give free back rubs to everyone entering the park. Its part of the game, and none of it should be taken seriously.
Dum spiro spero... | Follow me on twitter or else: @andrewjstone.
by AndrewJStone on Feb 22, 2010 5:41 PM CST up reply actions
Not a lawyer, are you?
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
Are YOU?
Dum spiro spero... | Follow me on twitter or else: @andrewjstone.
by AndrewJStone on Feb 23, 2010 8:21 AM CST up reply actions
Yup
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
It's under penalty of perjury....
…. in their court filings, and while parties often have diametrically opposed views in a lawsuit, what they’re doing here is the prelude to the hearings that will occur in May. Again, Frank McCourt’s lawyer admitted what Jamie filed was accurate. They did indeed submit a business plan for another venture indicating that as far as the Dodgers were concerned, they were going to double ticket prices over time and at a minimum, kept payroll static. It’s puzzling why you’re saying what Frank’s lawyer ‘fesses up to isn’t so.
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
You are missing my point.
I’m not accusing her of “lying” or anything. I have no doubt the documents are real and valid and were part of some plan or discussion at some point.
I’m also confident she took the things she could find to make the dude look as absolutely as horrible as possible and shoved them in to her filing. You need to keep in mind that she was acting as CEO of this team for most of the time that he / they owned it, and thus, presumable, would have been involved in these decisions as well! She has the ability to trash him, and the desire. If you start taking it seriously before he’s even had the chance to file his own stuff, which will undoubtedly look exactly the opposite of what she’s filed, you are playing in to their games. Hell, in one filing he was claiming worth of nearly three quarters of a billion dollars, and the next he claimed to be worth less than 150k and have less than 100k in his checking account. They both are lying, twisting, cheating, stealing, and doing everything possible to come out ahead in this divorce battle.
Additionally, you can’t look at that claim (double prices / keep payroll) in a vacuum. Do they plan to double prices and keep payroll steady in dollars spent, or keep payroll steady as far as a percentage of revenue, thus increasing it year over year? It seems whatever they were talking about here was just one of many possibilities for the future of this team, and while its no doubt that its revenue was up, demand was big for tickets, and McCourt had huge plans as far as turning the team in to a sporting empire, i’ve seen NO indication that this doubling of ticket prices was anything more than a discussion of possibilities.
Dum spiro spero... | Follow me on twitter or else: @andrewjstone.
by AndrewJStone on Feb 23, 2010 8:30 AM CST up reply actions
They've already started
http://www.laobserved.com/archive/2010/02/dodgers_move_quickly_to_r.php
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
It appears that Dodger ticket prices were quite a bit lower...
… than you might have expected in a market that size. That said, this is exactly the wrong time to start raising them.
"You can observe a lot just by watching." ~ Yogi Berra
Yes, it is
McCourt has all the fan friendly instincts of Bill Wirtz, as someone else said. He’s pricing out a large portion of his low income fan base at the same time many season ticket holders are dropping their subscriptions.Unemployment in the state is over 10%, and in L.A. it’s approaching 15%. The city itself is drawing up plans to layoff 4,000 city workers by July. They have a budget shortfall of over $212M, the state is at $20B.
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
That hardly qualifies as doubling prices.
An average price increase of 75 cents is the sort of thing that would make Jessica leap for joy, i suspect. And this says nothing of decreasing payroll in relation to ticket prices.
Looks to me like this is just a normal season over season adjustment of ticket prices, and can’t be used to support the idea that they’ll be doubling in the near future, or that payroll won’t move accordingly.
Dum spiro spero... | Follow me on twitter or else: @andrewjstone.
by AndrewJStone on Feb 23, 2010 2:06 PM CST up reply actions
Holy Christ
You’re buying the McCourtness hook, line and sinker. For one, the plan is to double prices by 2018. Again, read closer.
“No sooner did the word get out about a secret long-term plan to nearly double ticket prices at Dodger Stadium than the team announced an immediate and significant hike for this season, especially for low-end tickets. For the first time, the Dodgers will add $2 or $3 to the price of Friday and Saturday games. The lowest-priced same-day ticket, up in the top deck, will now be $15, an increase of $4. Left-field pavilion seats jumped $5 to $18, and prices were raised across several other categories at the lower end.
Many high-end prices on the field and loge levels stayed the same, as all prices did after the 2008 season. And by dropping $20 off the rear rows on the field level (to $100) and the advance price for the all-you-can-eat seats in right field (by $5 to $30) the Dodgers are able to say the new adjustments only increase the average ticket price by 75 cents. In all, prices went up on about 35% of seats. And another twist: when single-game tickets go on sale, the Yankees series won’t be included. All those tickets are being held back for sale in packages."
You’re pushing the McCourt crap angle. Why is anyone’s guess. To try and sell it as just a 75 cent hike is blatantly dishonest.
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
I agree the way the Dodgers worded it is horrible
and you really break it down well.
FWIW are the seats that were raised to $15 or $18 that bad? Not saying its fair to jack them that much in one swoop, but what would similar seats at WF (for example) cost?
newest member of the Austin Variety Show www.austinvarietyshow.com/
Pavilion at Dodger Stadium equals Bleachers at WF
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
so the tickets are cheaper in LA
than WF by seating comparrision?
newest member of the Austin Variety Show www.austinvarietyshow.com/
Not for long, apparently
"When they signed Fukudome, I knew they were trying to get me fired". - Ron Santo, January, 2008
buying power
$30 in LA > $30 in Chi?
newest member of the Austin Variety Show www.austinvarietyshow.com/
based on cost of living
LA cost 25% more to live in
newest member of the Austin Variety Show www.austinvarietyshow.com/
as I stated before and was told I was wrong
a divorce expected to cost more than $750 MILLION will affect the team, and here is the first of many times this will happen.
newest member of the Austin Variety Show www.austinvarietyshow.com/
The best outcome for Dodger fans
would be if the McCourts are forced to sell the team.
Hey, it's a new century!
I think this is more than the divorce
the McCourts simply weren’t rich enough to buy a team like the Dodgers by themselves. They financed the whole thing and they simply can’t service the debt anymore. And now they’re broke—or at least broke in the sense of “living in a mansion, driving nice cars and eating in fancy restaurants” kind of broke. But they’re spending a lot more than they’re taking in. The divorce is just making a bad problem worse.
Had anyone other than NewsCorp been selling the Dodgers, the McCourts never would have been approved for ownership. But Bud couldn’t piss off the owner of their broadcast rights.
Of course, it doesn’t exactly bring a tear to the eyes of other owners to see the Dodgers teeter on the brink of bankruptcy.
Yes... exactly.
It seems to me that the way the post-nup was worded was pretty clear – Jamie will have about 10 houses, and Frank will have the team. What remains to be seen though is if Frank will be able to AFFORD the team after Jamie takes his 10 houses and half or more of whatever else he has, and exposes the way they seemingly used the team as a virtual cash dispenser while paying no taxes. Supposedly his worth has really been crippled in the last couple of years (although the numbers are pretty fuzzy), and that combined with losing half to the ex and a couple of investigations on his tax schemes could really put him in bad shape.
The Dodgers as a team will be fine – their revenue streams are solid – but the ownership circus is going to be a treat for the next couple of years i suspect.
Dum spiro spero... | Follow me on twitter or else: @andrewjstone.
by AndrewJStone on Feb 22, 2010 7:08 PM CST up reply actions
While the Dodger organization may ultimately be fine
they’re still on the hook for $62 million over the next 5 years for players who won’t even be on their team. Their core players are going to be eligible for arbitration. They’d better hope the revenue streams are solid.
"There's more to life than profits...like, you know, slurpees and stuff." ~Randy Marsh
Josh, you hit the nail SQUARELY on the head!!
I agree 100% — I’ll bet Bud and the boys are hoping the Judge rules in favor of Jamie — That way, the two of them will have to sell the team — I laugh when Jamie talks about all her investors lined up to help buy Frank out — There’s no chance, IMO, of her being approved for ownership!
"I always tell the truth -- Even when I lie" -- Tony Montana
This is nothing to be concerned about, and I have proof:
At some point this divorce thing will blow over and the Dodgers, as is their long-standing commitment, will be back to building a pennant contending ballclub.
The Blackhawks and the Stanley Cup in 2010.
by BLou on Dec 26, 2009 12:49 PM CST
Seems pretty conclusive to me.
"There's more to life than profits...like, you know, slurpees and stuff." ~Randy Marsh
There must be a plan BLou was made aware of!
Dum spiro spero... | Follow me on twitter or else: @andrewjstone.
by AndrewJStone on Feb 22, 2010 7:02 PM CST up reply actions
no taxes since 2004?
Sounds like the IRS might soon own the Dodgers.
And forget the A’s version of “Moneyball” the movie, but pop me some corn for the Dodger version.
"I'd rather hit home runs you don't have to run as hard." -- Dave Kingman
by BucknerKongCardenal on Feb 22, 2010 8:35 PM CST reply actions
No federal OR state.
It seems like he has some sort of shenanigans going where he leverages future tickets sales to gain a larger credit line for the team, and then spends the team’s money like its his own. Jamie’s most recent filing for spousal support had her and he alike taking about 2.5 million A MONTH from the team, in various ways, including team credit cards.
Dum spiro spero... | Follow me on twitter or else: @andrewjstone.
by AndrewJStone on Feb 23, 2010 8:34 AM CST up reply actions
And now the Dodger Divorce trial is going to be delayed.
The franchise is in trouble.
"You can observe a lot just by watching." ~ Yogi Berra
Even more crap about the McCourts. They didn’t pay income taxes for 2004-2009. Legally, apparently.
"You can observe a lot just by watching." ~ Yogi Berra
My father wasn't kidding...
…when he always said “Life isn’t fair”!
"I always tell the truth -- Even when I lie" -- Tony Montana
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