According to a report by Bill Shaikin of The LA Times, Frank McCourt will allegedly make payroll on May 31st, thus stretching out a possible resolution to the Dodgers’ ownership issue and making Dodger fans even more miserable than they already are. Shaikin also reported this:
Frank McCourt has said the contract is “completely negotiated” and “ready to be signed” and could be worth at least $3 billion. Jamie McCourt has alleged in court papers that the deal “may be below market” and could thus affect the value of the Dodgers, the couple’s principal asset.
Frank McCourt has replied in court papers that the deal “maximizes the value” of the Dodgers by providing the team with “market-rate” annual rights fees and an ownership stake in Prime Ticket. Frank McCourt has further argued that his ex-wife has no grounds to contest media rights deals that are within the “ordinary course of business” for team management.
Some fans complain that it’s not that good of a deal, that maybe the Dodgers could get a better deal, but the “market-rate” annual rights fees and an ownership stake in Prime Ticket makes that argument a moot point . Here’s the thing – If anyone thinks Bud can just get rid of Frank because the Dodgers’ Debt to Value Ratio is too high (54%), then they are forgetting that the Cubs, Mets, Rangers and Nationals all have significantly higher Debt to Value Ratios and that the the Cards and the Padres have about the same percentage as the Dodgers. Lots of teams are a mess right now financially and the Padres had the highest operating income last year. Look at the KC Royals and how they are run. Look at the Pirates. Their owners pocket millions and screw the fans on a regular basis and Bud does nothing.
So, the plot thickens and more time passes. Yawn…