Dodgers Sale Could Happen by April 30: Fan’s View

Things are finally in motion for the Los Angeles Dodgers to be sold by embattled owner Frank McCourt. McCourt has given up his battle against the league and agreed to work with MLB to sell the team to the highest bidder.

Working together, McCourt and MLB filed a settlement agreement in the bankruptcy court in Delaware where the Dodgers’ bankruptcy case is happening. Both parties want to the court to order and approve the sale of the club and its broadcast rights. if approved, the bidding would happen from January 13-April 1, with a sale by April 30.

The deal would allow McCourt to keep the parking lots and land surrounding Dodger Stadium, which he separated from the team itself as a business move. He has the right to sell them to the new owner or anyone else.

The whole thing could be delayed or even ruined by Fox, as that company is in a lawsuit against the Dodgers regarding their right to sell the broadcast rights along with the team. Fox holds the exclusive broadcast rights to the team through 2013 and has the exclusive right to negotiate for a new deal until November 30, 2012. Fox is suing the Dodgers and MLB and has asked to depose Fox and MLB executives, including commissioner Bud Selig.

While I want the team to be sold, Fox paid a lot of money for those rights and it seems they are getting the short end of the stick on this one. McCourt believes, rightly so, the broadcast rights are an essential part of the sale, so the new owner can start fresh and negotiate his own deal, not be forced to live with the Fox deal.

I think it’s a bit shady on McCourt’s part, as he is using the bankruptcy proceeding to try to get out of the Fox deal. McCourt also knows the rights are worth more today than they were when he originally signed with Fox, so it will only add to the sale price of the team. I hope they all agree to a settlement and allow the sale of the team to move forward. In the court filings, MLB has taken a neutral position on the Fox dispute.

With the debt McCourt has, along with obligations to his ex-wife and tax liabilities, it’s believed even if the team sold for $1 billion (more than its $800 million value as estimated by Forbes) McCourt would barely break even.

Freddy Sherman grew up in Philadelphia, which didn’t make being a Los Angeles Dodgers fan easy. He has lived in Los Angeles for twenty years, now able to follow the Dodgers openly and attends games frequently. You can follow him on Twitter –@thefredsherman.

More from this contributor:

Fan perspective: Will Ron Burkle buy the Dodgers?

Will Chinese investors buy the Dodgers? Local fan reaction

Fan’s opinion: Frank McCourt bankrupts the Dodgers


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