FanShot

OT: Oh, Oh, New Dodger Owners May Be Just As Shady As McCourt

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Frank McCourt didn't use a dime of his own money when he bought the Dodgers. He borrowed it all. He started out in trouble and then borrowed even more. Well, Mark Walter, who is the point man for Guggenheim Partners, apparently is using other people's money. Namely, insurance premium money, which is supposed to be invested and show a return. The link here is to an overview, but there's a link once you get to the LA Observed website to the New York Times that's very interesting. The new owners have been slow to produce details of their financial structure, so far providing only the bare minimum, and now people are calling this purchase "a lawsuit waiting to happen", because McCourt may have found in Walter a similar soul, Magic Johnson just being a front man used to make it all feel good.

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