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Frank McCourt could be ruined if he has to sell the Dodgers

Oct 14, 2011, 3:00 PM EDT

File photo of Frank McCourt leaving Stanley Mosk Courthouse after testifying during his divorce trial in Los Angeles

For as ugly as the Dodgers stuff has gotten, there was always the two-steps-back reality check for Frank McCourt: if he pulled the rip cord he could still walk away personally wealthy given how much more the Dodgers are worth now than when he bought them.

Except, according to this report by Bill Shaikin of the Los Angeles Times, his debts and tax liabilities are more than most folks presume and — if forced to sell — he could walk way with nothing to show for the past seven years of his life:

McCourt bought the Dodgers for $421 million seven years ago, and the team arguably has doubled in value since then. Yet McCourt’s decision to take the Dodgers into bankruptcy means he could be forced to walk away from the team with absolutely nothing … If the long-term debts funded by Dodgers revenue are $550 million, if the Dodgers exhaust their bankruptcy financing, and if a sale results in the maximum tax liability stated by Frank McCourt, then the team would need to sell for $900 million just for McCourt to break even.

I know. I’d be just as crushed as you would be if such a thing happened.

  1. scareduck - Oct 14, 2011 at 3:05 PM

    It would further break my fragile heart if Frank were to go to jail for tax evasion.

  2. dodger88 - Oct 14, 2011 at 3:15 PM

    Unfortunately that gives McCourt incentive to drag this out as long as possible.

  3. Kyle - Oct 14, 2011 at 3:19 PM

    In a word: Good.

  4. nategearhart - Oct 14, 2011 at 3:20 PM

    It’s hard to muster sympathy considering Frank not only bought the team with Monopoly money, but it wasn’t even HIS monopoly money.

  5. Jonny 5 - Oct 14, 2011 at 3:30 PM

    Well, this may finally put the value of a dollar into his pea brain. Ya know after he actually works for it. I hope to see him working at Wallmart one day.

  6. drunkenhooliganism - Oct 14, 2011 at 3:30 PM

    When he loses everything and becomes just a poor guy like the rest of the world, he’ll look back and his biggest regret will be marrying. He could have been a super rich guy banging a different model every week, but instead married that. AND lost everything.

    If only the rest of us could get 7 years of living with unlimited money before we had to return to what we have now as a worst case scenario.

  7. bigleagues - Oct 14, 2011 at 3:45 PM

    Makes all the drama surrounding the Red Sox ownership group seem kind of trivial, doesn’t it?

    I mean think of what we could have had.

    I’ve said it before and I’ll say it going to my grave: thank you CEO Selig for the one completely correct action – even if it was entirely shady – that you have taken.

  8. lovesmesomeme - Oct 14, 2011 at 4:25 PM

    I will give him $800 million and not a penny more.

  9. uyf1950 - Oct 14, 2011 at 4:32 PM

    As the saying goes you reap what you sow.

  10. yankeesgameday - Oct 14, 2011 at 4:42 PM

    And the earth was torn open from within and the demon, defeated, was cast back into the abyss of hell from whence he came.

    • Old Gator - Oct 14, 2011 at 5:21 PM

      …except that in Nightmare in Elysian Park 2, the demon is resurrected by an appeals court. How they bring him back in NEP 3, 4 and 5 has already been scripted but is a closely held secret.

      • scareduck - Oct 14, 2011 at 5:25 PM

        I demand a Grant Brisbee treatment.

      • Old Gator - Oct 14, 2011 at 11:51 PM

        Aw, come on – wouldn’t you be happy with Frank Henenlotter?

  11. badmamainphilliesjamas - Oct 14, 2011 at 7:09 PM

    Welcome to the 99%, Frank.

  12. PanchoHerreraFanClub - Oct 15, 2011 at 4:41 PM

    If McCourt would just hire George W as managing director he could get a government bailout and be back in business.

    • Old Gator - Oct 15, 2011 at 11:59 PM

      If Frank McCourt hired George W, he wouldn’t be in business very long.

  13. craigbhill - Oct 16, 2011 at 4:39 AM

    People, the “value” of the Dodgers is not merely what’s been kicked around by most; i keep expecting to read, and am surprised i don’t, that the worth of the much-discussed tv rights contract, once it turns into a competition between Time-Warner and Fox instead of this measly Fox-only negotiation MLB rightly discarded, will alone make the worth of the Dodgers well over a billion, because the tv take will be at least three. So the sale price of the Dodgers, unless there is no competition between bidders, and there will be because of the worth of that contract-to-be, will most definitely end up a good and possibly better than $1.1 billion for that reason. The billionaire who tops all bidders for the Dodgers will reap an immense reward on his investment within a year of the purchase.

    So the conclusion F***k walks away broke, sheepishly asking Jamie if he can sleep on a couch in one of the several homes remaining to her, is unfortunately fanciful. He will leave the Dodgers quite well remunerated for all the evil he has done to this franchise. But where we can all revel in what he will have lost is that tv contract, which would have turned him into a billionaire, and which is why he has been trying to pull every trick he can to hypnotize the judge into giving him some magic power to force MLB to accept the contract, with him as owner, and let him suck the bone marrow out of it.

    Which is not going to happen. Revel in that, instead.

  14. flyerscup2010 - Oct 17, 2011 at 7:20 AM

    no, he wouldnt be “one of us” or “99%”, he just wouldnt profit from his 7 year investment. he didnt put every penny he has into the dodgers, he’d leave as a multi-millionaire.

    and to all my conservative friends who frequent the comments here, i’m disappointed no one complained that craig was engaging in class warfare. you guys are losing your edge, step your games up

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