Tags: BNTEAMS | CA | DODGERS | MLB | MLBALL | MLBNL | MLBTEAMS

MLB to Take Over Dodgers' Operation

Wednesday, 20 Apr 2011 09:06 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

 Major League Baseball will appoint someone to oversee business and day-to-day operations of the Los Angeles Dodgers as divorced owners Frank and Jamie McCourt argue over how to divide the team.

“I have taken this action because of my deep concerns regarding the finances and operations of the Dodgers and to protect the best interests of the club, its great fans and all of Major League Baseball,” Commissioner Bud Selig said in a statement released by MLB.

Selig said he will name MLB’s representative to run the team in the next few days.

“The Dodgers have been one of the most prestigious franchises in all of sports and we owe it to their legion of loyal fans to ensure that this club is being operated properly now and will be guided appropriately in the future,” Selig’s statement said.

Dodgers spokesman Josh Rawitch, the team’s vice president for communications, didn’t immediately respond to an e-mail seeking comment.

Bloomberg Businessweek reported last August that, according to unidentified people close to the McCourts, the Dodgers’ debt stood at around $525 million, the majority of it borrowed against future ticket sales. Forbes magazine estimated almost all the team’s profits were being used to pay down the interest on those debts.

The McCourts were granted a divorce in October after almost 31 years of marriage. A Los Angeles judge last year invalidated a postnuptial agreement that Frank McCourt claimed made him the sole owner of the Dodgers, leaving the team’s ownership in limbo.

“The Dodgers brand has atrophied over the last few years,” David Carter, executive director of the Sports Business Institute at the University of Southern California’s Marshall School of Business, said in a Feb. 28 interview. “The lack of clarity on ownership has been a key part of it.”


© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

O'Reilly: Colbert Has 'No Bleeping Clue' How to Fight ISIS

Monday, 29 Sep 2014 22:40 PM

Fox News host Bill O'Reilly shot back at Comedy Central's Stephen Colbert, who last week mocked O'Reilly's idea of a mer . . .

Vatican Sends Official to KC in Pedophile Shielding Case

Monday, 29 Sep 2014 21:39 PM

The Vatican has sent a church official to Kansas City to examine the leadership of Roman Catholic Bishop Robert Finn, wh . . .

Attorney: Psychiatric Exam Could Mean Jailed Marine's Freedom

Monday, 29 Sep 2014 20:48 PM

Andrew Tahmooressi, a Marine sergeant jailed in Mexico after he said he mistakenly crossed the border with three guns, w . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved