Frank McCourt offered $1.2 billion to sell the Dodgers
Well, we weren’t expecting this. From out of the blue comes an offer -- all cash -- to Frank McCourt to sell the Dodgers. It’s for $1.2 billion, and it comes from a man named Bill Burke. Burke, who is the founder of the Los Angeles Marathon, is backed by “certain state-owned investment institutions of the People’s Republic of China” and other investors, Bill Shaikin reports. Which probably means that Burke is just the figurehead/American face of the deal.
According to my friend (and Los Angeles resident and native) Bob Timmermann, Burke is married to former Los Angeles County Superintendent Yvonne Brathwaite Burke. The Burkes remain big players in Democratic politics, Mr. Timmermann says. I would assume this means that he’s not just some crazy rich person looking for attention.
The deal is reportedly for everything, including the team, the ballpark and the surrounding real estate. McCourt has no comment and it’s unclear whether he’s open to selling.
But jeez, it’s not every day that someone offers you $1.2 billion in cash. Assuming it’s something Major League Baseball would be receptive to -- and why would they not be? -- how could McCourt turn this down given all of the financial challenges he currently faces?