Frank McCourt Sells the Dodgers

Photo credit: Jon SooHoo/Dodgers

     Frank McCourt, the owner of the Los Angeles Dodgers, has finally sold the baseball franchise. He was the owner of the Dodgers for seven and a half years.
     This transaction ended a six month legal battle between Frank McCourt and baseball commissioner Bud Selig. This argument started in April when the MLB took control of the team due to financial concerns.
     In June, Frank McCourt filed for bankruptcy protection after a three billion dollar, seventeen year contract with FOX was declined by the league. Selig announced that almost half of a three hundred and eighty five million dollar payment would have to be diverted from the Dodgers to McCourt.
    McCourt realized that selling the team he vowed never to sell was actually in the best interest of the fans and himself.
     McCourt purchased the Los Angeles Dodgers from NewsCorp in February of 2004. He bought them for four hundred and twenty billion dollars. He used mostly borrowed funds to make this purchase. This time, the team is expected to sell from anywhere around eight hundred million dollars and one point two billion dollars.
     McCourt remembered, as someone once said: "There comes a point in time when it's time to say, 'It's time'".

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