April 20, 2011

Oh, man, who'd a thunk this?

Official Statement from the Office of the Commissioner of Baseball:

"Pursuant to my authority as Commissioner, I informed Los Angeles Dodgers owner Frank McCourt today that I will appoint a representative to oversee all aspects of the business and the day-to-day operations of the Club. I have taken this action because of my deep concerns regarding the finances and operations of the Dodgers and to protect the best interests of the Club, its great fans and all of Major League Baseball. My office will continue its thorough investigation into the operations and finances of the Dodgers and related entities during the period of Mr. McCourt's ownership. I will announce the name of my representative in the next several days. The Dodgers have been one of the most prestigious franchises in all of sports, and we owe it to their legion of loyal fans to ensure that this club is being operated properly now and will be guided appropriately in the future."
Considering McCourt had to borrow $30M from Fox (Sports, I imagine) to meet payroll last week, I suppose I shouldn't be surprised. Heaven knows McCourt's been nothing but a looter since he bought the team, reportedly buying half-a-dozen homes in LA, including two next door to one another in Holmby Hills for approximately $31M. He's taken money out of the team and put comparatively little back in, and he's now about $459M in debt.

On balance, getting the team out of McCourt's hands is a good thing. However, Selig's not my idea of the best trustee, so the best thing we fans can hope for is that he finds a buyer for the team, and soon.

Update: From ESPN this historical note: "Baseball officials could not recall another instance in modern times in which the commissioner's office seized control of a team from its owner."

Posted by Linkmeister at April 20, 2011 11:17 AM | TrackBack

Makes you miss O'Malley, doesn't it? I never thought I'd say that.

Posted by: SeattleDan at April 21, 2011 09:39 AM

Wow. That's pretty extreme. And he was borrowing money from the media to make payroll? I'm croggled.

Posted by: Juli Thompson at April 23, 2011 05:44 PM