After a day in which the Dodgers mess got messier, word seeps out that Frank McCourt is mulling -- had mulled? will mull? -- selling a minority stake in the team in order to infuse the organization with cash and preserve his place in the ownership chair.
Of course this is all too little too late. It took the Mets months to pull this off and they had a unanimity in ownership and no court interference as they identified and courted an investor. Frank McCourt has nine days until the check comes due and even if a magical fairy floated down from the treetops tomorrow with a briefcase full of cash, any sale of a minority stake in the team would have to go through Jamie and a divorce court and through Bud Selig who is obviously not inclined to do McCourt any favors. Oh: and given how leveraged McCourt and the Dodgers are, how much cash could a sale of a stake of the team truly bring him? The balance sheet is an utter train wreck.
So, nope, this isn’t happening. At least not in any kind of time frame that will help McCourt. It’s either lose the team or litigate at this point. Or both.
Oh, and don’t think for a minute Bud isn’t watching you, Frank. He’s got his eye on you buddy ...
Baseball Commissioner Bud Selig gestures during a news conference on Thursday, May 12, 2011 in New York. Selig gave Frank McCourt the face-to-face meeting the Los Angeles Dodgers owner wanted, but provided no timetable on approving a proposed $3 billion television deal with Fox that would keep the club from running out of cash at the end of the month. Selig and McCourt met Wednesday when owners began a two-day quarterly meeting at Major League Baseball’s office. (AP Photo/Bebeto Matthews)
AP