When Frank McCourt bought the Dodgers, we knew he did it with OPM. That’s “Other People’s Money.”
We knew Frank was highly leveraged. Frank was criticized for that, but had he and Jamie taken a “reasonable” amount of money as salary instead of nearly $200 million, he might still be the owner and looking pretty good. Of course, if chickens had lips, they would be people.
Dodger fans knew a lot about Frank McCourt – they don’t know a lot about Guggenheim and Company, and now we find out that Frank does get revenue from parking (no matter how you or Magic want to explain it away). We also know that Frank is a 50% partner with Guggenheim & Company on the land around Dodger Stadium. We also know that someday that land will most certainly be developed and that Magic can veto it.
When the deal was announced, I was skeptical as to why Guggs and Company would become partners with McCourt, while overpaying for the team. I think I now know why.
Are Guggs and Company so stupid that they think Dodger fans will be happy with that? I don’t think they are that stupid.
What I do think is that sooner than later, the Dodgers will either build a new stadium or have the city of LA do it. The Dodgers will move and Frank McCourt will own Dodger Stadium and all the land around it after he buys out Guggs & Company’s interest. I think Guggs and Company is planning on getting back a half billion on that deal. That’s my story and I’m sticking to it. Stay tuned…
- Alfredio Silverio is lost for the year with TJ surgery after he had just became a legitimate prospect.
- Jake Lemmerman is hitting extremely well at AA Chatt. He’s still at SS. That won’t be where he stays unless he’s trade bait.
- How about Chad Billingsley and Jake Lemmerman to Boston for Kevin Youkilis and Josh Beckett? Beckett is a head case and both players have worn out their welcome in Boston. Bills needs a new team. Boston would have to pay 1/2 of Beckett’s salary. It could work. Youks is a free agent after the season and is marrying Tom Brady’s sister this year, but he could do well in LA. Beckett has two more years. He’s a crapshoot.
- Derrick Hall will be the next MLB Commissioner and Josh Rawitch will be his right hand man.
- Ethan Martin will be in LA before the year is over. The Dude has put it together and has electric stuff! Almost a no-no last night!
- Jared Massey’s Minor League Report – 5/10/12