What an absolute debacle. First, Magic Johnson and his buddies grossly overpay for the Dodgers. It gets worse: The real money in acquiring the Dodgers is in the parking lots – McCourt’s reluctance to part with the parking lots is the reason Mark Cuban never seriously considered purchasing the franchise – and McCourt will keep them, according to LA Weekly:
Frank McCourt will hang on to the Dodger Stadium parking lots through a joint venture with Johnson’s investor group. That means Johnson and his backers are now business partners with McCourt.
This has disaster written all over it. Somewhere, Steve Sax and Fernando Valenzuela are drowning their sorrows in bourbon while Kirk Gibson slips another quarter in the juke box.
Burn, baby, burn!