LA Dodgers could soon be on the auction block

Marketplace Staff Nov 1, 2011
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LA Dodgers could soon be on the auction block

Marketplace Staff Nov 1, 2011
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Steve Chiotakis: Reports this morning say the Los Angeles Dodgers may soon get a new owner. The baseball team, plus Dodger Stadium, could go for a billion dollars or more. Current owner Frank McCourt has been fighting with Major League Baseball over ownership as part of a bankruptcy settlement.

Bill Shaikin covers the Dodgers for the LA Times. He’s with us this morning from his home. Hey Bill.

Bill Shaikin: Good morning.

Chiotakis: I gotta ask you up front — is this for sure?

Shaikin: No. Nothing is ever for sure until the contract is signed. But it appears that Frank McCourt and his advisers have gotten to a place where they realize selling the team is the best option for Mr. McCourt.

Chiotakis: Why hasn’t he sold up to now?

Shaikin: He wants to keep the team. And he was convinced that in bankruptcy court there was a means to do it. It appears now that even if he wins in bankruptcy court, and he gets the television rights auction that he’s asked the court to let him proceed with, he might not have enough money to run the team in the long-run.

Chiotakis: What does this mean for the Dodgers? I know a lot of fans have been upset with the McCourt ownership, especially in the past year or so. Does this mean finally an owner will come to bat and put some money into the team?

Shaikin: Yeah, we believe the team will be sold at auction — that will guarantee Frank McCourt the best price possible. And that would enable a well-capitalized owner to come in and make some investments in the Dodgers and the stadium and upgrade the team.

Chiotakis: Bill Shaikin with the LA Times. Bill, thanks for joining us.

Shaikin: All right, thank you.

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