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Friday, October 31, 2014

Frank McCourt Needed Cash Advance from FOX to Continue Running Dodgers?

When the McCourts bought the Dodgers in 2004, they were approved unanimously by their fellow owners. The reason was simple: MLB wanted cheap owners in a major market to help keep player salaries down (imagine an owner that spends like the Yanks or Mets in LA). The McCourts fit that bill perfectly; they did not have enough money to purchase the franchise, so they had to use Frank’s parking lot in Boston as collateral for the loan. Naturally, one of their first items of business was to fire at least one employee per department throughout the franchise.

Seven years later, not much has changed. Frank and Jamie McCourt raised prices for tickets, concessions, and parking almost every single year despite not increasing the payroll correspondingly. We found out they kept team revenue to finance their personal lifestyle instead of reinvesting in the product on the field, that they paid employees hundreds of thousands from charities, and well, we could go on and on and on. The latest charge is the most laughable since the Vladimir Shpunt story.

The LA Times reports that FOX advanced McCourt money to continue financing the team. Frank is trying to maintain ownership of the Dodgers despite divorcing his wife, Jamie. Many figured the team would have to be sold in order for the financial terms of the divorce to be settled, but it appears as if Frank is trying to work his way around things.

This is one of the most embarrassing tenures for an ownership group and the fans deserve much better. MLB should force a sale of the Dodgers to restore order, and most importantly, respect. When the fans are booing the owner, it’s time for a change. And if Frank is really that desperate for money, I think I can find five bucks in my pocket for him.



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