Reported $1.2 billion offer for Dodgers, other assets

[soxfanreggie]

http://espn.go.com/los-angeles/mlb/story/_/id/6917853/frank-mccourt-offered-12-billion-los-angeles-dodgers-report-says

http://www.mlbtraderumors.com/2011/09/mccourt-gets-12-billion-offer-for-dodgers-.html

http://www.mlbtraderumors.com/2011/09/mccourt-gets-12-billion-offer-for-dodgers-.html

A group headed by Bill Burke, including investment by investors from China. The assets besides the Dodgers franchise include all real estate holdings and media rights associated with the Dodgers that McCourt owns.

The current record is the $845 million that Ricketts paid for the Cubs. Forbes values the Dodgers at $800 million. McCourt bought the Dodgers for $430 million in 2004, and the team and its related entities were reported (in Selig's letter) to carry over $550 million in debt.

[palehozenychicty]

After all this disaster to the team, McCourt is getting a golden parachute. He already signed this, right? Right?! :o:

[johnny bench]

After all this disaster to the team, McCourt is getting a golden parachute. He already signed this, right? Right?! :o:

He's too ****ing stupid to accept.

[Lip Man 1]

I don't know if his goal is to get as much money as possible out of this (since his wife is going to get her cut). He wants to stick it to MLB and Selig personally.

Lip

[asindc]

After all this disaster to the team, McCourt is getting a golden parachute. He already signed this, right? Right?! :o:

If my math is correct, McCourt only walks away with $400,000, and that is before divorce expenses. He will have to give his soon-to-be-ex half of that plus pay his legal fees. His business reputation is all but ruined, and he seemingly has nothing to fall back on. He brought this all on himself (with help from his wife), but in the scheme of things, I don't think that parachute is all the golden. This is assuming that most of the debt service on his purchase has yet to be paid, since I'm reading the carryover debts to be separate from that. If the carryover debt includes the debt service on the initial purchase, then yes, he would be a fool not to sign this and get it over with.