It’s akin to a heresy: one of the bidders for the Los Angeles Dodgers asked about the potential of selling naming rights to Dodger Stadium after the team and ballpark are sold by Frank McCourt. Dodger Stadium is one of the great historic venues of baseball, opening in 1962. To say the name isn’t totally […]
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Seven groups still in running for Dodgers
Seven groups remain in the running to land the Los Angeles Dodgers and Dodger Stadium, as two groups were eliminated from the proceedings. The Los Angeles Times has a summary of the groups remaining: Of the nine parties still in contention last week, the two eliminated Monday were Michael Heisley, owner of the NBA’s Memphis […]
Dodgers sale complicated by McCourt’s decision to keep land surrounding ballpark
The decision by Frank McCourt to hang onto the parking lots and land surrounding Dodger Stadium is already complicating the sale of the team and caused one high-profile group to withdraw from the bidding process. Developer Rick Caruso and former Dodgers manager Joe Torre decided to pass on bidding for the Los Angeles Dodgers and […]
O’Malley: I want to bring the Dodgers home
Peter O’Malley has informed MLB Commissioner Bud Selig about his intent to form an investment group to bid on the Los Angeles Dodgers, Dodger Stadium, and related entities. Late last night Frank McCourt and MLB reached an agreement for the team and its related companies to be sold at auction, with a sale overseen by […]
McCourt throws in towel, will sell Dodgers
Frank McCourt will participate in a court-supervised sale of the Los Angeles Dodgers, Dodger Stadium and associated businesses, ending a standoff with Major League Baseball over the future of the franchise. The announcement was made last night and follows months of legal wrangling over McCourt’s attempts to sell future media rights in an effort to […]
McCourt looted $189 million from Dodgers: MLB
Frank McCourt has raided Los Angeles Dodgers and Dodger Stadium financial coffers improperly to the tune of $189.16 million, according to MLB attorneys, in anticipation of bankruptcy-court proceedings next week. The battle lines are emerging in the Delaware bankruptcy proceedings: MLB attorneys say McCourt isn’t fit to run and own the team; Fox opposes McCourt’s […]
Dodgers lower season-ducat costs for 2012
The Los Angeles Dodgers, operating under a cloud as owner Frank McCourt and MLB fight it out in court, go on the offensive by lowering season-ticket pricing for 2012. That 2011 was a very miserable year for one of baseball’s flagship franchises is an understatement: announced attendance was down some 18 percent, to 36,236 per […]
Jamie to Frank: The Dodgers are yours
Perhaps sensing this is the best way to get some cash out of her divorce to Frank McCourt, Jamie McCourt has agreed to let him keep the Los Angeles Dodgers and Dodger Stadium as part of a settlement and will support his effort to sell the team’s media rights. The McCourts have been embroiled in […]
MLB to bankruptcy judge: Force McCourt to sell Dodgers, or we’ll do it later
In a bankruptcy-court filing, Major League Baseball has asked the Delaware judge overseeing matters to force Frank McCourt to sell the Los Angeles Dodgers and related assets — or else MLB will seize the team post-bankruptcy. “Mr. McCourt cannot hide the Dodgers in bankruptcy forever,” the filing read. The Los Angeles Times reported on the […]
Dodgers attendance woes could cost team $27 million
A bad season for the Los Angeles Dodgers gets worse, as a significant drop in attendance could end up costing the team some $27 million in decreased game-day revenues — or even more. The Dodgers have experienced a significant drop in attendance this season to 36,706 a game, some 16 percent this season versus the […]
Judge: Dodgers must accept MLB loan
A Delaware bankruptcy judge held that the Los Angeles Dodgers owner Frank McCourt must negotiate with MLB over the terms of a loan, citing the more favorable terms of the deal. McCourt had arranged $150 million in Debtor-in-Possession (DIP) financing from a JP Morgan hedge fund, Highbridge Capital, under some pretty onerous terms — 10+% interest, […]
MLB: McCourt not acting in best interests of Dodgers
Frank McCourt is pushing for bankruptcy court to approve an onerous hedge-fund financing plan instead of a lower-interest loan from Major League Baseball because he’d personally be on the hook for fees, according to papers filed yesterday. The battle between McCourt and Major league Baseball is getting intense and nasty, as the pair are fighting […]
No, Virginia, no new Dodger Stadium on the horizon
Though some outlets are reporting Major League Baseball looking at a new downtown ballpark for the Los Angeles Dodgers should the franchise be seized, the truth is far more pedestrian — and no, there’s no replacement ballpark on the horizon. SportsByBrooks reported that two sources had reported Major League Baseball had approached facilities giant AEG […]