Frank McCourt reportedly mulls sale of stake in Dodgers
For months, Frank McCourt has maintained he is the victim of a double standard, that the Dodgers and New York Mets each are in a financial bind and Commissioner Bud Selig is lending a hand to the owners of the Mets but refusing to help the Dodgers.
The response from Major League Baseball usually starts with this: The Mets' owners were willing to sell a share of their team to raise cash, but McCourt preferred to pursue loans that would burden the Dodgers with additional debt.
However, McCourt told MLB recently that he would be willing to consider the sale of a minority share, according to a person familiar with the matter. It is doubtful that any such move could satisfy McCourt's immediate cash crunch, since MLB generally takes weeks or months to investigate the background of any potential minority investor.
McCourt has not provided any names of prospective minority owners to MLB so that they might be cleared to see the team’s financial data, the person said. Also, any sale of a stake in the team would be subject to MLB approval and would require him to establish sole ownership of the Dodgers or get the consent of ex-wife Jamie McCourt, who has asserted her right to half-ownership of the team under California community property law.
The divorce settlement that the McCourts announced on Friday included a provision for an Aug. 4 trial to determine ownership of the Dodgers. That settlement was invalidated by Selig's decision Monday to reject a proposed television contract between the Dodgers and Fox.
RELATED:
MLB rejects deal between Dodgers and Fox Sports
MLB statement on Dodgers-Fox deal
Statement from Frank McCourt's attorney
Frank and Jamie McCourt talk Dodgers future, divorce settlement
PHOTOS: The Dodgers and the McCourts
-- Bill Shaikin
Photo: Frank McCourt. Credit: Stephen Dunn / Getty Images.
Too Late Frank.....
Posted by: badfinger20 | 06/20/2011 at 06:08 PM
It's not personal it's business. You're out, Frank.
Posted by: anotherdodgerfanstayingaway | 06/20/2011 at 06:14 PM
McCourt has never been able to work with 'partners' - it all ends up in acrimony, denouncements and endless litigation.
Even a filthy rich puppet eager to attach his name to the franchise wouldn't last long with Frank. Even a fellow swindler would grow tired of the machinations. And any partner would have to be eternally 'silent' to assauge the malignant narcissist ego of McCourt.
Nope.
Frank's stuck with himself. And rightfully so.
Posted by: BostonGal | 06/20/2011 at 06:47 PM
I'd like to suggest that any stake be used to drive through Frank's heart and be done with this bloodsucking fiend once and for all.
Posted by: Labeldude | 06/20/2011 at 06:56 PM
Just when I think that this clown can't get more pathetic, he proves me wrong yet again. You go, Frankie!
Posted by: FormerLifelongDodgerFan | 06/20/2011 at 07:06 PM
McCourt pays the rent and the parking concessions to businesses he has under different names. He is going to make this drawn out and ugly for major league baseball. THIS IS THE SAME A**HOLE WHO HAD NO MONEY BUT SPENT 20 MILLION OR MORE ON LEGAL FEES TO TRY TO STIFF HIS WIFE. GOOD JOB MCCOURT I AM SURE THEY ARE SO HAPPY WHAT YOU TRIED TO DO TO THERE MOTHER.
Posted by: mark | 06/20/2011 at 07:06 PM
There is simply no way MLB will approve of any minority stake sale.
Posted by: Rob McMillin | 06/20/2011 at 07:10 PM
So Frank McBroke is mulling over the sale of a stake in the Dodgers huh??!! Give me a frickin break would u??!! Mr McBroke, what dont u understand??!! Let me give u a subtle hint.... "Just get out of here already"!!!! "GET OUT OF HERE"!!!
Posted by: santuri1 | 06/20/2011 at 07:11 PM
McCrap has no conscience, no soul, no heart. Narcassistic, socio-pathic, incompetent in business, relationships, finance, baseball knowledge, management. We would have been better served if the Navy Seal Team 6 would have removed McCrap than have taken out Bin Laden. But hopefully he will be gone soon. The Vero Beach Curse Lives!!!
Posted by: KoufaxFan | 06/20/2011 at 07:40 PM
It figures, this move.
Posted by: OldBrooklynFan | 06/20/2011 at 07:45 PM
Labeldude's perspective is a little understated but I'm inclined to support his viewpoint.
Posted by: skyharbor | 06/20/2011 at 07:49 PM
who would someone buy a minority stake in the team when they can just wait and buy the whole team?
Posted by: mike | 06/20/2011 at 07:52 PM
Keep stringin' it out Frankie baby - never let 'em see you sweat!
Posted by: 16blows | 06/20/2011 at 08:02 PM
he's already got clyde torkel aboard his titanic ... ain't nobody else that lacking above the shoulders
maybe he can find a limo driver who wants in
Posted by: alanw19 | 06/20/2011 at 08:14 PM
Frankie, make a clean break of it. Sell the team. Magic's or Mark Cuban's money is nice to have in hand rather that wishing about it. Do it for the fans.
Posted by: Dave Fairburn | 06/20/2011 at 08:30 PM
My screen name says it all.
Posted by: F-U-frank | 06/20/2011 at 08:38 PM
Who in the wide world would be stupid enough to go into an investment with Frankly He's a Crook McCourt? I'd sooner invest with Bernie Madoff!
Posted by: Airedale | 06/21/2011 at 03:54 AM
Baseball will not approve any minority owner who will allow McCourt to overcharge the team on rent to another McCourt-owned entity, okay payments to his children for work they do not do, and who would be OK with nearly half of the Fox advance money going to Frank's settlement.
Posted by: neoncactus | 06/21/2011 at 05:46 AM
Nobody will partner with this guy
Posted by: VekikS | 06/21/2011 at 07:40 AM
Time to get the Fox and the Weasel out of the hen house for good. Adding a minority Weaseljust won't do, Bud.
Posted by: Blank Frank | 06/21/2011 at 08:04 AM
Who would ever want to buy a minority share of the Dodgers with Frank McCourt as the owner. You are better off putting your money in a burlap sack and tossing it off a mountain. Get out of Los Angeles Frank McCourt and get out of Dodger Stadium.
Posted by: fbmvp | 06/21/2011 at 08:04 AM
So NOW McCourt wants to entertain the notion of a minority owner-while on the brink of losing the Dodgers forever. Too little to late McCourt. You got nine-count 'em-nine days left. You aint getting a minority owner signed on board and vetted by MLB in nine days!
Here comes Manny Ramirez riding to the rescue. Can't wait for McCourt to default on the June 30th payroll! McCourt won't go away anytime soon. We fans will be in for a rough ride, but at least we'll be headed in the right direction.
Posted by: Two More Weeks | 06/21/2011 at 09:49 AM
Just what an investor wants, to get in bed with Frank McCourt. That's the same Frank McCourt that decimated the Dodgers and continually lies about everything regarding said Dodgers and about the money he took out of the team for himself. Yes I think they'll all be beating down Franks door to help him out.
Posted by: McCourt blows | 06/21/2011 at 11:00 AM
RELAX, gemmun and lady. As noted, there's no time. Frank can mull anything he wants, it doesn't mean it's going to save him. Not as noted is the reason he hasn't done this long ago. I mean, he knows he's been taking from the till since 2004. He knew it had gotten bad, the well going dry and all that, maybe over a year now. Why didn't he take on a minority partner then, to stop the bleeding and never let it get to this?
He'd have to open his books to his junior partner.
Nuff said? In case not, Jr Partner: "So lemme get this straight, Frank. You don't mind me calling you Frank? And letting me put my feet on your desk. Hope you don't mind my cigar smoke.
"You want ME to put MY money in to cover YOUR team's bills so you can keep taking it OUT?
"Here's how it is, Frank. I'm YOUR boss now. If i put in anything over a million, i'm the majority owner."
"That'll be all, Mr Getty, thank you for coming."
Posted by: Native Angeleno | 06/21/2011 at 12:02 PM
Frank: Just sell the team. Not to partners, not to shell organizations. This race has run its course. You wanted to play billionaire, when you were a millionaire. You willing humiliated yourself and family instead of settling out of course. You are living on an island, alone, and think you are in a community with thousands of friends.
You have become a confused and pathetic man.
Posted by: mrmac53 | 06/21/2011 at 12:11 PM
With all of these entities he created with the Dodgers, it would not surprise me that he created his own money laundering channels in order to funnel money for his family and stiff the Dodgers. LEAVE, while you still have the shirt on your back.
Posted by: Jimi | 06/21/2011 at 01:21 PM