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The Dodgers sale price could soar above $1.5 billion

Jan 25, 2012, 11:00 AM EDT

Dodger Stadium

Bill Shaikin writes of another interested bidder in the Los Angeles Dodgers: Leo Hindery. His significance? He was the founder of YES Network and his presence in the bidding suggests that a Dodgers cable network could be in the works. Which, as we know, means serious money for the team to which it is attached.

Which, in turn, could shoot the bidding price for the team way, way up.  Shaikin:

However, his involvement could trigger a surge of media interest that could lift the Dodgers’ sales price. That could make it more likely that McCourt gets a figure in the range of $1.5 billion to $2 billion, rather than in the range of $1 billion to $1.5 billion.

I’m gonna go sit in a corner and try not to be angry that the man who ran that team into the freaking ground and then burdened it and himself in debt may walk away from it all an even more obscenely rich man than he was when he bought it in the first place.

Not working. Hurm. Oh well, I can at least re-read this article in which a former Dodgers owner calls McCourt a very bad man. That made me feel better for a few minutes.

  1. drunkenhooliganism - Jan 25, 2012 at 11:04 AM

    Were the other savvy billionaire businessmen involved in the bidding previously unaware of the possibility of a regional sports network?

  2. l0yalr0yal - Jan 25, 2012 at 11:07 AM

    $1.5 Billion? At that price, I’ll take two.

  3. gendisarray - Jan 25, 2012 at 11:52 AM

    Worst part is that he gets to handle the sale of the team himself – largely without interference from MLB – because he ran it into the ground so badly it ended up in bankruptcy. So because McCourt was a truly terrible owner (instead of just a run-of-the-mill bad owner), he gets to run the auction for the team and pocket over $1 Billion in profit over what he paid for it. Shameful.

  4. dlevalley - Jan 25, 2012 at 12:11 PM

    “….walk away from it all an even more obscenely rich man than he was when he bought it in the first place.”

    Actually, he wasn’t obscenely rich at all when he bought the Dodgers. In fact, he wasn’t even regularly rich. He bought the Dodgers on credit, ran them into the ground, and now gets to cash in on his ‘investment’.

    You’ve got to love this county…

    • koufaxmitzvah - Jan 25, 2012 at 12:21 PM

      Something tells me he’ll be paying the 13% Mitt Romney tax rate rather than the 30% Mitt Romney’s secretary’s tax rate.

      If the IRS doesn’t look into the McCourt’s not paying taxes on the Dodgers over the past 7 years, then there is no justice.

      • jwbiii - Jan 25, 2012 at 12:33 PM

        You’re right, koufax. He largely paid himself through loans taken against the Dodgers. These will be taxed at the 15% capital gains rate when he sells the team.

    • paperlions - Jan 25, 2012 at 1:11 PM

      Isn’t that essentially what EVERYONE involved in “real estate development” that gets rich does though? Buy on credit and hope to have good timing on the re-sale (that or give a bunch of money to politicians to push through “development” projects that turn your land from worthless to suddenly tremendously valuable).

    • ptfu - Jan 25, 2012 at 1:26 PM

      At least McCourt won’t actually end up with all the proceeds. He’s filed for bankruptcy, so the court will force him to pay his debts, including $130M to Jamie as part of their divorce settlement. I doubt his creditors will cut him any slack now they realize he’s gonna get a windfall. What’s the interest rate these days on delinquent loans?

  5. Francisco (FC) - Jan 25, 2012 at 12:36 PM

    Ceterum censeo McCourt esse delendam

  6. bigharold - Jan 25, 2012 at 12:36 PM

    WOW. Just unbeleiveable.

    This moron takes an iconic franchice to the brink, .. gets bailed out by MLB and Fox, .. and then sells the team and walks away insanely rich.

    Well at least I know where I went wrong, .. it’s all this hard work, nose to the grindstone, paying my bills and trying to live within my means nonsense.

    If the Dodgers are worth that kind of money what would the Yankees be worth? They generate more revenue, have a new cash cow stadium, have already put the Yes network in place and their not mortgaged to the hilt.

    • andrebeingandre16 - Jan 25, 2012 at 4:11 PM

      Well part of the reason that the Dodgers sale price will be so high is because owners of iconic franchises generally take great care of them and dont give them up easily so the chance to buy a franchise like the Dodgers doesnt come up often.

      • bigharold - Jan 25, 2012 at 6:18 PM

        True enough but for that kind of money, iconic or not, somebody has to be crunching the numbers to make sure that everything boxes and their’s money to be made. At least enough revenue to keep the team afloat and competitive long enough to right the ship.

        At the end of the day it’s business and the people that can afford or organize an endeavor like this didn’t get into that position not knowing a good business deal when they see one.

  7. sasquash20 - Jan 25, 2012 at 7:12 PM

    Baseball is just better when the Dodgers are competitive.

  8. lostsok - Jan 25, 2012 at 9:46 PM

    McCourt should take a good chunk of that money and buy himself some shame. Right now…he clearly has none.

  9. jkaflagg - Jan 26, 2012 at 3:33 AM

    Was there ever a doubt that McCourt would make out on this deal ? After all, he is the quintessential American businessman – always operate with other people’s money, squeeze out every last buck and lawyer up when challenged….The only mistake he made was not controlling the wife, as the divorce brought all his shenanigans out into the open ( although Jamie is quite a piece of work in her own right)…….Now his final act is to play on the vanities of some billionaires who want to be seen as ” saviors” of the Dodgers franchise – plus, he’ll continue to keep his hands in the pot even after the sale by keeping the parking lots !

    Again, this would all be very impressive if it didn’t make your skin crawl…..

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