If McCourt wasn't hurting, he's not even talking to Fox, he's starting a Dodgers channel; report says new contract offer is 13 years for $1.6 billion
Here is a common refrain from Frank McCourt supporters -- yeah, that would be Steve Soboroff -- who keep claiming he’s not broke:
He has a $3-billion, 20-year deal on the table from Fox! Somebody please let the poor man use his big, fat ATM card!
Yeah, well, there are a couple of problems with this make-believe scenario: 1) If McCourt wasn’t broke, he wouldn’t be talking to Fox because the smart thing to do is to start his own channel; 2) Turns out that Fox deal is for more like $1.6 billion over 13 years.
During last spring’s divorce proceedings, it came out that McCourt was eyeing his own Dodgers station, a la the Yankees, where the serious money awaited. This was the big dream and the financially astute road to travel.
Except . . . starting up your own station takes major dinero, which McCourt lacks and cannot get anyone to provide, because his debt ratio has become scary.
That’s the only reason he turned to Fox, his favorite patsy. He had no other choice. Fox loves giving to McCourt. It’s like a sickness. They should have their own special rehab facility.
Major League Baseball, whose national broadcasting contract is with Fox, was nonetheless seriously irate. We should all thank Fox for its stupidity, since it essentially gave Commissioner Bud Selig his excuse to take over the Dodgers. Fox gave McCourt the loan because Time Warner had batted its eyelashes at McCourt and Fox feared losing the Dodgers to the cable giant. This despite Fox’s current contract giving it the right to match any competing offer.
MLB took over the Texas Rangers last year, and shortly after the club was sold to Nolan Ryan and his group, the Rangers signed a 20-year, $1.6-billion deal with Fox. Which would be barely more than half of the deal McCourt supposedly had lined up.
Only The Times’ Joe Flint now reports the McCourt-Fox deal is actually more like 13 years for $1.6 million. (Also, Flint reports the $30-million personal loan was approved by News Corp. President Chase Carey, the man who traded Mike Piazza).
That new contract is now in limbo as Tom Schieffer takes over as trustee or monitor or warden, and is expected to stay there until McCourt’s current financial dealings are unraveled.
If McCourt wasn’t broke, he’s not even talking to Fox about a new contract, he's busy planning a Dodgers channel. Of course, if McCourt wasn’t broke, he’s not asking for the $30 mil to make payroll. For the second time.
Funny, my ATM requires that real money be behind it.
-- Steve Dilbeck
Photo: Los Angeles Dodgers owner Frank McCourt arriving at a downtown Los Angeles courthouse for closing arguments in his divorce trial on Sept. 10, 2010. Credit: Nick Ut / AP
Wow. What a mess McCourt has made of things.
I truly hope that Magic Johnson or perhaps even Mark Cuban could come in at this point and 'rescue' the team - but what has me worried is that McCourt keeps robbing Peter to pay Paul, the same shell-game that he seems so good at, the same scheme that enabled him to purchase the team in the first place, and ends up never leaving.
Here's some simple, free advice to Bud Selig and MLB: How about a rule REQUIRING all buyers to have full cash when purchasing teams!
Sadly too, McCourt is too cheap to pay for proper security. If they beefed up patrols in the bleachers for instance, made it less inviting for the same type of element (thugs!) that have found free reign in the low-cost seating at Chavez Ravine, then the brutal beating of Giants fan Stow might have been averted, and perhaps attendance would be higher too. I know we stopped going to Dodger games 5-6 years ago because the affordable sections to take an entire family were where thugs run amok. Looked like Raider games at times in the bleachers.
Problem is, thugs buy tickets too. Oh so sad the situation. Peter O'Malley - where are you??? We miss you!!!!!
Posted by: CyberCosmiX | 04/25/2011 at 06:50 PM
McCourt spent himself into penury. Just when his ocean liner was about to come in. Timing is everything, isn't it, Frankiepoo? Now he can't afford a ticket without raiding the cookie jar and has to ask Mr Schieffer if he can have one. But Mr Schieffer won't lift the lid.
O the frustration! What will Frankie do next? Hire yet more expensive lawyers?
Mr Schieffer? May i have some money to take you and Bud to court?
Go back to your padded cell, Frank. Or do you want me to call Jamie into the office so you can tell her what you plan to do with her half of the money?
Never mind!
Posted by: Native Angeleno | 04/25/2011 at 07:07 PM
Dodgers channel could be done in the nation's No. 2 market, no question. But not by a man with no money. It is one route, not the only route, to managing the franchise in all aspects - from modernizing and updating the stadium to updating the roster and product on the field, including paying employees on and off the field what a team in the No. 2 market should - as opposed to the current status, where 36 percent of MLB teams have higher payrolls.
in craps, they call it staying power. you have to have it to play at the table, otherwise, you're extremely unlikely to make money.
this is where hoping for a new owner with deepest of pockets, who can invest in such a cause and stay at the table while it eventually turns his profit - and it will. So unless "a group" had serious stud money in it, I'm thinking we're talking of a select list of individuals worth great sums. And though that's a short list, its the one we need to eye. Or least dream on.
Of course, first, frank has to be gone. That would take his new sidekick Clyde Torkel with him. And of course, Flanders has to go.
Good work LATimes - $3B ... $1.6B ... that new math might be troubling frank, but I think its just a matter of the integrity and honesty he fails to have.
Posted by: alanw19 | 04/25/2011 at 09:04 PM
If only more people knew this was the real situation.
McCourt is desperate. Desperation is not a good negotiating position, clearly. He's willing to trade 2 years for some serious revenue. But alas, he won't make it 2 years.
Dodgers need their own sports network, like the Yankees and RedSox.
Posted by: snowdog | 04/25/2011 at 10:22 PM
The Dodgers can get their own network once McCourt is history. Hopefully it's soon. If you can't afford something you shouldn't buy it, are you listnening Frank?
Posted by: McCourt blows | 04/26/2011 at 05:39 AM
The Dodgers don't need their own channel. How many can we all pay for? Lakers channel....Dodgers channel....Prime Ticket.....FSWest.....the coming Pac 10 channel.....what's next, the We're About to Get An NFL Team channel?
There is a perfect home waiting for the Dodgers....and that's with TWC and the Lakers. Let it play out....let TWC cut the rate for Prime Ticket or drop it all together and let the remaining four teams... Angels, Kings, Ducks and Clips consolidate into one channel.
Posted by: Tony Almonte | 04/26/2011 at 06:52 AM
please at least be up front and disclose how present value works into valuing a long term contract. i know it makes you feel high and mighty calling someone a liar and putting them down, but...
Posted by: thank you | 04/26/2011 at 02:11 PM
I had a good laugh reading the linked sentence near the bottom of the article. $1.6 million for 13 years. haha
Posted by: Sal | 04/26/2011 at 08:21 PM