It’s Only Business That’s All …………..
Well it shouldn’t have come as a surprise to anyone that MLB Commissioner Bud Selig deflated the balloon of Los Angeles Dodgers’ owner Frank McCourt . Finally the commissioner shows some insight after he and the league hierarchy and the team owners made a gargantuan mistake in granting McCourt the right to buy the team originally from the Fox Corporation . Furthermore , the question I still would like to ask of Selig and the owners and hierarchy is given the fact that it was well known that McCourt had several legal problems prior to the purchase what type of due diligence was used if any by the league’s hierarchy ?
Picture and slide show for your perusal .
In his findings Selig rightfully stated that even with the $ 3 billion 17 year deal in place much of the funds derived from the deal would have actually gone to paying down much of the personal debt of Frank McCourt and that of his associated business interests . Much of the time we were being told by McCourt that the Dodgers as business concern was financially viable but herein lies the caveat all along ,. McCourt in cahoots with Dodgers’ CFO Peter Wilhelm had repeatedly used the team as financial collateral in a number of business deals that has absolutely nothing at all to do with the game of baseball . Much of this McCourt would keep hidden not only from certain board members but most certainly from the MLB hierarchy , thereby contravening bye laws of the game concerning debt to asset ratio all teams in the conduct of their business practices .
Courtesy of Yahoo Sports
By Tim Brown , Yahoo Sports
Commissioner Bud Selig on Monday rejected a proposed television rights package that would have given life to Frank McCourt’s ownership of the Los Angeles Dodgers.
After a two-month investigation, Selig concluded that too much of the 17-year, near-$3 billion package with Fox would be funneled away from the Dodgers, who are straining to stay relevant under McCourt’s financial bind.
“Critically, the transaction is structured to facilitate the further diversion of Dodgers assets for the personal needs of Mr. McCourt,” Selig said in a statement. “Given the magnitude of the transaction, such a diversion of assets would have the effect of mortgaging the future of the franchise to the long-term detriment of the club and its fans.”
So arrive what could be the final days of McCourt’s ownership of the Dodgers, seven years after he purchased the franchise from Fox.
McCourt, who Friday had reached a divorce settlement with ex-wife and former team president Jamie McCourt, was notified Monday afternoon of Selig’s decision, which effectively nullifies that settlement. A portion of the $385 million advance from Fox was earmarked for Frank McCourt’s personal debt and divorce payoff .
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The sticking point for Frank McCourt now comes in the fact that he now faces having to sell the team in order to doubt meet the obligations concerning his divorce settlement with his ex wife Jamie McCourt . Beyond this , until the courts in Los Angeles make a legal verdict of their own concerning the Dodgers being a communal asset we may well see the beleaguered owner seeking his own recourse in challenging Selig with a civil suit of his own in the Federal Courts . Good luck with that Frank because of now you’re still fighting an uphill battle !
At this time of the season within baseball teams will either sink or swim not only in terms of their play but also by the decisions made by the managers . But barring that all , what could be even more telling will be the disabled list of the teams around the league . It’s not a team yearns to have one of their star players on the DL but simply tends to happen through no fault of the player or anyone else for that matter . The standings at present a different picture of what many thought would be happening but then again the game of baseball will always be literally filed with surprises . Nothing is ever guaranteed in stone in any game of chance much less a competitive team endeavor .
If you’re a San Diego Padres’ fan how must you feel at present seeing the team languish at the bottom of NL West , having won only one of their last ten games and being on a 6 game losing streak ? It’s fair to say that not only the loss of Adrian Gonzalez has played a part in the team’s downward spiral from last season but the austerity measures now in place by the front office led by principal partner Jeff Moorad , Chairman John Moores and GM Jed Hoyer . Paring down salary is one thing but I’m not so sure that this alone will assist the organization in being competitive ! This past MLB Draft saw the Hoyer prudently make choices that he and manager Bud Black make the type of decisions that will quite possibly bare fruit and come to fruition in the coming years .
Manager Bud Black and his coaching staff have their work cut for them this season if this team is to show any respite much less the resolve in showing some sign of resurgence . Ryan Ludwick , Brad Hawpe , Cameron Maybin and Orlando Hudson have all got to show that from an offensive standpoint that they can lead this team . And granted in Aaron Harang , Matt Latos and Dustin Moseley the pitching has struggled throughout much of the season . One gets the feeling that an upsurge in confidence and a win streak of 5 or six games and a few series could very well change the mindset of not just the organization but also the team .
For all of the talk about building for the future which while good it simply doesn’t fill the ballpark with fans that are being starved of success . Prospects and a farm system filled with top notch talent is one thing but simply ask the vast majority of fans if they are prepared to wait around for years merely to see in large part the team quite possibly fail or more often than not simply let go of talent that goes on to flourish elsewhere ?
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Picture gallery for your perusal .
Alan aka tophatal ………. https://tophatal.wordpress.com
What thoughts if any do you have on the points raised within this piece ? Simply leave a comment or comments as to your thoughts . And as always thanks for the continued support is it is greatly appreciated !
Picture and slide show details .
(1) Baseball Commissioner Bud Selig listens to a question during a news conference on Thursday, May 12, 2011 in New York. Selig gave Frank McCourt the face-to-face meeting the Los Angeles Dodgers owner wanted, but provided no timetable on approving a proposed $3 billion television deal with Fox that would keep the club from running out of cash at the end of the month. Selig and McCourt met Wednesday when owners began a two-day quarterly meeting at Major League Baseball’s office.AP Photo/ Bebeto Matthews ….
(2) Los Angeles Dodgers owner Frank McCourt speaks during a Dodger Stadium security news conference at Los Angeles Police Department headquarters on April 8, 2011 in Los Angeles, California. It was announced that new security measures will be implemented at Dodger Stadium after San Francisco Giants fan Bryan Stow was attacked in the parking lot after the season opener at Dodger Stadium. The beleaguered owner now having seen his lone remaining hope go up in smoke with Bud Selig revoking his deal Fox Tv now is left with nothing but to seek recourse through litigation . But herein lies the caveat should the courts not provide a verdict in his support he could very well lose the team altogether . Getty Images North America / Kevork Djansezian …………
(3) BOSTON, MA – JUNE 20: Adrian Gonzalez (28) of the Boston Red Sox celebrates a 14-5 win over the San Diego Padres at Fenway Park on June 20, 2011 in Boston, Massachusetts. (Photo by Jim Rogash/Getty Images …
(4) Orlando Hudson (1) of the San Diego Padres kicks dirt between pitches during a game against the Boston Red Sox at Fenway Park on June 20, 2011 in Boston, Massachusetts. Photo by Jim Rogash/Getty Images …….
(5) Ryan Ludwick (47) of the San Diego Padres connects for a broken-bat single during a game against the Boston Red Sox at Fenway Park on June 20, 2011 in Boston, Massachusetts. Photo by Jim Rogash/Getty Images …………
(6) At Petco Park Jan. 12 to announce the retirement of Padres pitcher Trevor Hoffman and his new position in the Padres’ front office (from left): Manager Bud Black, president and COO Tom Garfinkel , Hoffman, vice chairman and CEO Jeff Moorad, and GM Jed Hoyer. AP Photo / Phil Moyer ……..