Mar 28, 2012, 8:30 AM EST
Frank McCourt bought the Los Angeles Dodgers for $430 million in 2004. Then he chopped his team up, poured kerosene all over it, torched it, and then peed on it while the flames rose higher and higher and he still realized a 500% appreciation of his asset in less than eight years.
Bernie Madoff was inventing investment returns from whole cloth and even he didn’t have the guts to do that. Would have been far too ridiculous. Meth dealers don’t get that kind of return. Maybe the cash doesn’t flow in as much as some owners would like, but they are all sitting on crazy-appreciating assets. Owning a baseball team is a license to print money, even if you haven’t a clue of what you’re doing.
So I guess what I’m saying is, the next time you hear the owner of a major league baseball team cry poor, the next time you hear an owner say that they can’t sign that player everyone likes, the next time you hear an owner say that the taxpayers need to give him a publicly-funded ballpark or else the world will end, please remember the $2.15 billion sale of the Los Angeles Dodgers and kindly call b.s. on that noise.
- Blue Jays sign president and CEO Paul Beeston to extension through 2015 20
- Reds sign four-year contract extension with Devin Mesoraco 11
- The Yankees are going to try to get out of paying A-Rod his contract incentives 75
- How Commissioner Rob Manfred Can Make Baseball More Appealing 60
- Blue Jays cut off talks for Orioles executive Dan Duquette 48
- Rob Manfred, new Major League Baseball commissioner, suggests ban on defensive shifts 118
- Yankees reject A-Rod’s apology attempt 48
- Joe Posnanski: Remembering ‘Mr. Cub,’ Ernie Banks 18
- Bud Selig: The Greatest Commissioner in the History of Baseball (146)
- Rob Manfred, new Major League Baseball commissioner, suggests ban on defensive shifts (118)
- Comments of the Day: some of you guys aren’t big Bud Selig fans (77)
- The 2015 Braves have “gravitas” and “veteran leadership” and will have dirty uniforms. Just kill me now. (76)
- Ernie Banks, one of baseball’s greatest players and greatest ambassadors has died at age 83 (75)