There is a flurry of activity behind the scenes right now involving bidders for the Dodgers. I know there are some well-healed bidders, but I’m not sure if anyone will pay the $1.5 billion that the Dodgers will fetch, including the parking lots. Not only will that be the most ever paid for a baseball team – IT WILL BE NEARLY DOUBLE the price of what the Ricketts family paid for the Cubbies. I think you could see FOX or Time Warner allying themselves with certain investment groups in order to raise the money. Neither company wants to run the Dodgers, but if either is part of the group that buys the Dodgers, they automatically get the TV deal.
On the other hand, if someone can pony up $1.5 Bil on their own and wait until 2014, they can start their own TV network. If you pay $1.5 Bil for the Dodgers you better be ready to sink another $500 mil into the stadium and shops and development around Dodger Stadium (like McCourts’ Dream, which was a solid idea – he just didn’t have the money to pull it off). If the right buyer gets the team, they could ultimately have over $2 Billion invested in the team and development around Dodger Stadium, but with a TV network and development of a “destination” around Dodger Stadium, it could be a cash cow.
… or maybe they will just build a new stadium downtown and develop the Ravine…
It is going to be very, very interesting!