Categorized | Mark Timmons

Frank McCourt Has Ruined The Dodgers to the Tune of $1.2 Billion

So it has all came down to this:  That evil man Frank McCourt, corrupt that he is, has used the Los Angeles Dodgers as his own personal checkbook and ran them into the ground so that an investment group headed by Bill Burke

Home, Sweet Home

and some unnamed Chinese investors offered to buy the Dodgers for a measly $1.2 billion. 

The audacity of that Frank McCourt!  How could he run this team down to the point of where it is only worth a pittance?  $1.2 billion is chump change!  What a fraud! 

You all were right – Frank McCourt ruined the team.  The team is not worth anything because he has pillaged them of all their assets. 

Nobody will want this team and it will never be the same.

Of course, MLB says that it might not be a valid offer and so do you.  Of course they do and of course you do.

Of course, no one really knows all of what all this means, but we do know some of what it means:

  1. It means Jamie will want more for her part;
  2. It means that the bidding for the Dodgers starts at $1.2 billion (not bad for an asset you say has been run into the ground);
  3. It means that MLB has lost its’s credability in trying to oust McCourt; and
  4. It means you are blind if you continue to see only the bad that McCourt has done.

Get a grip!  Face reality!  Your bitterness against McCourt is your reality I guess, but the real reality is that Frank McCourt bought the Dodgers for $800,000,000 less than they are worth today (allegedly).  He must have done one or two things right!

If you think the sale can’t happen, you are delusional.  If you think it will happen you are out of touch with reality, but an offer has been made – that’s the truth!

I have been trying to tell you this stuff for two years, but there is no one so blind as those who will not see!

 httpv://www.youtube.com/watch?v=OHHLWzGkDJQ

About Mark Timmons

When you see the invisible, you can do the impossible!

21 Responses to “Frank McCourt Has Ruined The Dodgers to the Tune of $1.2 Billion”

  1. Anonymous says:

    After getting done thumping on your chest how smart you are and how blind the rest of us are, open your eyes and look at the won/loss record or perhaps you might even watch a game played at Dodger Stadium where the attendance or lack of has never been seen in the history of the franchise.
    Yeah, he’s a swell old boy. DOH!

  2. GoNzO says:

    And heeeeeere we gooooooooo!

    Mark as much as I respect you I have to disagree with your take. The Dodgers, Dodger Stadium and all other assets are valued at 800,000,000 by Forbes.

    If I recall correctly Fortune 500 companies pay very close attention to their value when the publication comes out. So I believe that their estimate is pretty much right. Now comes what little I recall from Free Enterprise in school. My truck is worth $18,000 today and I have not had it serviced properly and a few dings on the body here and there making it go down in price to $13,000 and Badger calls me up and offers me $22,000 cash for it you better believe I’m going to sell because that is what it’s worth TO BADGER.

    Were dealing with the same thing here this group of investors see the potential gain from this asset (The Dodgers) and overwhelmed McCourt with an offer. If a person has the capital to overpay for something that does not mean the owner of the asset thats selling had anything to do with the amount offered.

  3. MillaBlue says:

    I could care less about what the team is worth or not worth or what there is to gain financially etc. I am a Dodger fan. I want to see an owner that isn’t embarrassing the franchise with his high school love affair BS all over the tabloids.

    They guy is a joke and he has run the INTEGRITY of the team into the ground. And that is what matters to the true Dodger fan. Not all of this financial crap.

  4. Mark_Timmons says:

    Look, I am not extolling the virtues of Frank McCourt, but it ain\’t as bad as most of you say.

    In 1992, the Dodgers went 63-99 – was everyone calling for O\’Mally\’s head?

    In 1986 and 1987, they Dodgers had identical records both years of 73-89. We all remember what happended the next year.

    Currently the Dodgers are 5 games under .500 and playing good baseball. The fans are staying away, but they will come back – they always do.

    Forbes values the Dodgers at \”present-day valve\” but if someone had special understanding that a team may have greater value, then it would be worth more to them and they would pay that.

  5. The Bunny Rabbit inside Broxton's Soul says:

    This is why your blog gets maybe 10-15 responses per post if your lucky, and the majority of the other Dodger blogs get 50-60 posts per addition. You treat your audience like crap. Condescending and self-righteous. You may be right in what you say about this sale… but you act like a prick about it.

    Thankfully the right side of your blog has easy to find links to better, more interesting and entertaining blogs or else I’d probably not come on here. Thanks for that, though. You’re a top-notch conduit to better things

    • Mark_Timmons says:

      Glad to be of service.

      If you can\’t stand the heat – get out of the kitchen!

      I am here to give my opinion, not write what people want to hear.

      If I wanted, I could get 100+ responses to every post. IF I wanted that.

      Obviously, I don\’t do it for that reason.

      • The Bunny Rabbit inside Broxton's Soul says:

        If I wanted, I could get 100+ responses to every post. IF I wanted that.

        I seriously doubt this above statement.

        No one here has a problem with you giving your opinion, it’s the way you give it that has driven a lot of really interesting posters away. I’m here because your pure comedy and the thing I love most is laughter… you are pure fodder for that.

        So thanks, keep it up

        • Mark_Timmons says:

          Bunny,

          The blogs that get 50 comments usually have 5 guys commenting 10 times. I read them too.

          But, I live to make you laugh. That is my lot in life.

  6. kaynla says:

    I’m not going to be jerked around by every salacious headline offered up by the media, but why not notice the most glaring feature of this so-called “offer” for the Dodgers: It comes from the Communist Chinese GOVERNMENT. That should set off enough alarms; it almost sounds like a threat. Given that Bill Burke is a CA political insider who brokered this deal, and possibly a stealth buddy of McCourt, it looks like the ticket price is supposed to impress the bankruptcy judge.

    It’s all game-playing, and it’s all an insult to baseball lovers and true blue Dodgers fans, just like the survey about Vin Scully. The so-called offer is more crap from Fwank. Yes, he IS just as evil as ever.

    And, oh, don’t any of you or the media forget, Jamie is still co-owner until and unless a judge says differently.

  7. Anonymous says:

    The whole offer is another scham from McCourt and a buddy of his for appearance purposes and his personal gain in future litigation….and NO Mark, the fans will not be coming back, until McJerk is gone!

  8. Corey says:

    sorry that was me above

  9. GoNzO says:

    “Forbes values the Dodgers at \”present-day valve\” but if someone had special understanding that a team may have greater value, then it would be worth more to them and they would pay that.”

    Exactly. So for you to say tha McCourt had a hand in the value of the Dodgers is wrong. A monkey could have been the owner of the team and it would have had the same net gain “if not more).

    My personal opinion is that Mccourt is finally seeing the writing on the wall and is trying to drive up the price by having a guy he has done business and earned a lot of money with make a play for the Dodgers.

  10. Brooklyn Dodger says:

    Spin it any way you like. Fact is, “Frank McCourt ruined the team… [and] he has pillaged them….”

    The offer, if its real, would appear to come from people able to take advantage of the core asset, since after a cash deal the current Dodger debt would be wiped out, and the Dodgers would presumably be run by an ownership with the wherewithal to build the Dodger brand, instead of dragging it through the mud.

    The core value of the Dodgers has nothing to do with anything McCourt did right. It has everything to do with a brand that has been severely tarnished, but has an intrinsic value based on its history, and on the unfulfilled promise that McCourt was never able to unleash for lack of funds and motivation to do so. Under a well heeled ownership the Dodgers will be able to spend like the large market team it is, draw 4 million plus fans every year, and will have the ready investment capital to establish a regional network of its own, or the leverage to partner in a lot more lucrative TV deal than the one the desperate McCourt negotiated with Fox. And if the partner turned out to be Fox, rest assured that the desperate party in the negotiations would be them, NOT the Dodgers.

    You need to “Get a grip! Face reality.” Feel free to spin it any way you like, but Frank McCourt has invested in the Dodgers like they were a second rate asset. The people bidding $1.2 billion are bidding for a jewel that they have the means to polish to a brilliant luster, as brilliant as any in MLB, or for that matter, in all of sports.

    “I have been trying to tell you this stuff for two years, but there is no one so blind as those who will not see!”

    Haven’t you used that line before? Excuse me if I’m wrong, but really, it’s getting to be tiresome. Oh, I guess it’s better than the Ray Charles line.

    Either you’re wearing blinders, or you think that those of us with even a modicum of intelligence are going to buy this spin. Everyone one of us who has advocated for new ownership have done so with the thought in mind that the Dodgers are worth a fortune, given the real estate they own, the potential to fill Dodger Stadium regularly (even without offering discounts and even at higher prices) with the proper investment in the product, and the end of the onerous 10-year TV deal that McCourt signed with Fox, and which has tied the Dodgers’ hands all these years. And, of course, with a re-built brand, and the marketing to go with it, the Dodgers would be able to rake in untold millions from sponsorship and merchandise sales.

    And yes, if this deal is real, there is no doubt that MLB will have to do a thorough job of due diligence. As Ramona Shelburne tells us, “The right owner matters, not the price tag.”

    http://espn.go.com/los-angeles/mlb/story/_/id/6918773/right-owner-matters-los-angeles-dodgers-not-price-tag

  11. Mark_Timmons says:

    This just in:

    Muammar Gaddafi buys the Dodgers. Fans are excited!

  12. Brooklyn Dodger says:

    Tell me, in detail, exactly how I made the case for McCourt keeping the team. I have some ideas about the approach you’re likely to take, but I’d rather wait and see.

    • Mark_Timmons says:

      The very foundation of US Bankruptcy law is this according to the US Supreme Court:

      “It gives to the honest but unfortunate debtor…a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.”

      Now, I know you will say he is not honest, but there is no “legal” evidence proving that. There has been nary a word from the IRS or the California Department of Taxiation.

      Frank McCourt is not trying to liquidate his debt, but rather, restructure it. According to the US Bankruptcy code, the intent is for the debter to pay his debts and if possible, keep his assets. You stated:

      “the Dodgers are worth a fortune, given the real estate they own, the potential to fill Dodger Stadium regularly (even without offering discounts and even at higher prices) with the proper investment in the product, and the end of the onerous 10-year TV deal that McCourt signed with Fox, and which has tied the Dodgers’ hands all these years. And, of course, with a re-built brand, and the marketing to go with it, the Dodgers would be able to rake in untold millions from sponsorship and merchandise sales.”

      That is an argument for Frank to keep the team. There is intrinsic value to the Brand and people forget that while he took out over $100 million he put a few hundred million back into the team. You will diagree, but I think Frank could do just what you said. Frank has a lot of potential equity at stake and the Court cannot take it lightly. In fact, they have a responsibility to do so and the fans’ hatred of Frank McCourt will not even be considered by the Court.

      Like everyone else, I would love to see Mark Cuban walk in and buy the Dodgers tomorrow, but it ain’t gonna happen. I don’t believe McCourt will sell, and the assets are much greater than the liabilities.

  13. Dodger66 says:

    All this offer shows if it is a real offer, MLB has questioned it’s authenticity that in spite of McCourt the Dodger Brand is and will remain a valuable asset. McCourt has done nothing to add value to the Dodger’s the last couple of years he can’t even afford to own them.

  14. Brooklyn Dodger says:

    That the Dodgers have a valuable brand is by no stretch of the imagination any kind of justification for McCourt keeping the team. At every turn since he took ownership of the Dodgers, Frank McCourt has revealed himself to be interested in one thing, and that is using the team to build his own personal wealth at the expense of the Dodger brand. No one buys a professional sports franchise without the intent of increasing the value of their investment. But a purchaser who enters into such an investment with a foundation of great personal wealth does so with the object of building up the brand in order to reap gains well into the future. Buying a sports franchise is a long term investment made by individuals with no need to take anything out to fund a lifestyle that is beyond their means. In fact, a sports franchise is best served by an owner able to invest substantial amounts of their own cash in the product, with the aim of enhancing its value in the long term.

    If McCourt were to get a TV deal from Fox he could probably hold onto the team. But given the desperation of the moment, I have to believe that the deal he negotiated was below market value, especially since he was limited to negotiating exclusively with Fox until the Fall of 2012. If McCourt had the resources to run the team properly, he would never have leveraged his purchase of the franchise in 2004, and would not have been forced to live with the current 10 year deal with Fox. Instead he would have been in a position to negotiate a superior deal with any media entity he chose, or he could have done like the Yankees, Mets and Red Sox, and formed his own regional sports network, or a regional network in a partnership arrangement.

    And while I agree that the Court would seek to give the debtor “a new opportunity in life…”, I seriously doubt if the bankruptcy court is of a mind to overrule the MLB rules under which a franchise can be seized if they file for bankruptcy. The overriding objective of the court is to see that the creditors are made whole. If in the process MLB takes control of the Dodgers based upon rules that McCourt signed onto when he purchased the franchise, I doubt if the Court would have any interest or motivation to intercede.

    There is no question that the asset McCourt owns is greater than its liabilities. Unfortunately for McCourt, the assets for the most part are illiquid, unless of course they can be converted into cash as a consequence of a sale. And while it’s true that “Frank has a lot of potential equity at stake and the Court cannot take it lightly”, it’s also true that the Court would likely have no objection to the rendering of that equity into cash via a sale. He would simply be converting his equity in the brand, real estate, etc. into liquid cash which he would then be free to invest as he saw fit. No doubt that Jamie would want a substantial piece for herself, but that’s another matter that would have to play out between Frank and Jamie. Thankfully, at that point the Dodgers would be completely out of the picture.

    Finally, as a franchisee, Frank McCourt represents not only the Dodger brand, but the MLB brand as well. Just as I’m sure that McDonald’s can force the sale of one of its franchises in the best interests of its brand, so too, I believe, MLB can force the sale of an individual franchise if its owner is out of step with the best interests of baseball in general, and one of its premium franchises in particular.

  15. DodgerFan says:

    What a poorly written and researched article.

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