Tuesday, October 25, 2011

MLB: Frank McCourt "Looted" Dodgers

Frank McCourt
((ht: latimes.com))

And by "Looted", they meant he took hundreds of millions of dollars out of the team.

Major League Baseball says as a part of their ongoing court battle with Dodgers owner Frank McCourt that he took over $189 million out of the team to use for personal issues.

They also claim he's broken at least 10 Major League Baseball rules while owning the team and that alone should be enough to end his ownership of the once proud franchise.

McCourt says MLB approved his business structure and knew what was going on. They also say Commissioner Bud Selig acted in bad faith by saying he would reject any TV contract McCourt tried to get. Selig and MLB believe that any money he gets from that will immediately be diverted to pay off McCourts massive personal debt, including a $130 million payout to his now ex-wife Jamie.

Read the lengthy and interesting story from the LA Times RIGHT HERE

This story continues to get uglier as it goes. Apparently the seriously injured Bryan Stow will also become a key piece of this court case as both sides appear prepared to use what happened to him as an example of how Dodger stadium is run.

McCourt needs, at this point, to just shut up, allow his team to be sold, take whatever money he can get out of it and go away. And yet he won't.

In the meantime the Dodgers suffer. The brand continues to lose value and fans and players are turned off and want to just run away.

Hopefully the court case gets done sooner rather than later.

We seriously doubt that will happen.

No comments:

Post a Comment