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January 31st 2004 |
Out of the Frying Pan |
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by Jessica Polko On January 29th, Major League Baseball owners voted to approve Fox Entertainment Group's sale of the Los Angeles Dodgers to Frank and Jamie McCourt, married Boston real estate developers. The McCourts purchased the franchise, Dodger Stadium, the Dodgers' Dominican Republic baseball academy, and the lease on the Dodgers' Spring Training complex in Vero Beach, Florida for a total of $430M, the most ever paid for a Major League organization. Two hundred five million dollars of the funds paying for the purchase come in the form of a loan from Fox. The McCourts plan to be active in the management of the team and will begin with a review of the organization immediately. Dan Evans, the current GM of the Dodgers, will be a candidate for the position in 2004, but the McCourts consider the job open.
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