Breaking News tonight: Frank McCourt has agreed to sell the Dodgers to the Magic Johnson-Stan Kasten-Mark Walter group, for $2,000,000,000!
Walter is the money guy, long time baseball executive Kasten will run the baseball operation, and hopefully Magic can restore the Dodgers name and image.
The BAD news: McCourt reportedly will buy back Dodger Stadium land for 150,000,000 and still be the Parking Lot Guy.
Peter O’Malley sold the team to Fox in 1998 for just over $300 M, and Fox sold to McCourt for $430 in 2004. Fox was the real culprit in destroying the franchise, though McCourt made things worse, and made the headlines.
A $1.5 B profit just isn’t right.
Good\/bad about Dodger sale: Magic a local legend & great businessman, but McCourt got paid $2B for bankrupting a storied franchise. lolwut