$1.2B bid for the Dodgers: “There are questions within the sports industry about whether this is a genuine offer”
Sep 2, 2011, 8:22 AM EST
My first reaction to yesterday’s news that Bill Burke and Chinese investors were offering Frank McCourt $1.2 billion for the Dodgers was that Major League Baseball would be jumping for joy. It’s probably a good rule, however, to never be content to settle on your first reaction, because stuff that involves billions of dollars is usually a lot more complicated than that.
And, as Steve Dilbeck reports in the L.A. Times, this could be a lot more complicated than that. MLB executives are skeptical of the bid. And, as Dilbeck’s post establishes, there are some good reasons for skepticism. Not to put too fine a point on it, but McCourt’s interests would be served quite conveniently by having an offer like this out there separate and apart from actually selling the team to the folks making this offer.
How? Well, for starters, McCourt has been looking for minority investors to help him out of his jam. If there was an offer like this on the table, McCourt could easily point to it and say “Hey, look how valuable this team is! If you want in, it’s gonna cost you more.” Moreover, as the matter of his mismanagement of the Dodgers sits before the bankruptcy court, he could likewise point to this offer and say “if I’m such a bad steward of this team, why are people willing to give me billions for it!”
Throw in the fact that McCourt has had past business dealings with the Chinese — who are reportedly underwriting the majority of this bid — and it’s enough to at least make you raise an eyebrow about the seriousness of the offer.
- Royals sign Edinson Volquez for two years, $20 million 20
- Rays, Padres, Nationals agree to 11-player trade 75
- Sergio Romo re-signs with the Giants for $15 million 13
- So, apparently we’re sweating the Matt Kemp physical now 45
- The United States will seek to normalize relations with Cuba 141
- Marlins complete Michael Morse deal: two years, $16 million 18
- Padres, Rays, Mariners discussing trade involving Wil Myers 36
- It is perfectly clear that A-Rod is the Yankees’ DH. At best. So there will be no drama, right? 37
- Baseball’s highest-ranking Hispanic woman employee sues for discrimination (163)
- The United States will seek to normalize relations with Cuba (143)
- Cubs, Red Sox, Dodgers, Padres, Rangers, and Astros interested in Phillies’ Cole Hamels (110)
- Done Deal: Yoenis Cespedes and two players traded to Detroit for Rick Porcello and a minor leaguer (105)
- Chase Headley signs a four-year deal with the Yankees worth at least $52 million. (95)