Wednesday, June 22, 2011

McCourt plans to make Dodger sale difficult: Mark Cuban interested or not?

((ht: latimes))

This is going to be really interesting. Current Los Angeles Dodger owner and sinking ship Frank McCourt is vowing that he's going to make any sale of his team by Major League Baseball difficult at best.

McCourt's attorney tells the L.A Times that McCourt created a separate entity to control the stadium, the parking lot and a large piece of ticket revenue and that entity is not a part of the team. Bob Sacks also tells the Times that if the league sells the Dodgers, none of those entities would be part of the sale. Sacks also says the league knows of and agreed to this, something the league vehemently denies.

What essentially it means is someone could buy the team and not have rights to anything. It also means this is about to get ugly, because the league is about to take over the Dodgers in full and put the team up for sale. The reason they will step in, McCourt will not be able to make his end of the month payroll due to losing most of his assets in a nasty divorce settlement with now ex-wife Jamie.

Read more from the L.A Times RIGHT HERE

The other interesting tidbit here is that apparently asked Dallas Mavericks owner Mark Cuban if he'd be interested in buying the Dodgers. Cuban told TMZ, "If the deal is right and they're fixable then yeah, I'm very interested", he added, "Who knows what is included and what's not?" going to get ugly in about 8-days. McCourt keeps saying he doesn't want to fight Major League Baseball in court, but that is exactly where this is heading. Summarizing McCourt's legal and financial issues would take a lot of time and probably several stories, but he is essentially "S.O.L". He doesn't have the financial wherewithal anymore to operate his team.

We'll keep an eye on this and let you know how this story progresses.

CNBC's Darren Rovell talks a bit about McCourt's Financial issues:

No comments: