Seriously? I’m not sure anyone saw that number coming. Two billion dollars. For one baseball team. Sorry, but that sounds awful.
The Cubs sold for $845 million in 2009. What makes the Dodgers worth $2 billion?
There is no way the group headlined by Magic Johnson is going to make any money on this deal. Not for a really long time, anyway.
Of course, the fans are excited. Johnson is a legend in Los Angeles, and I’m sure it’s just a relief to have this whole thing over with. With the defending Cy Young winner Clayton Kershaw and MVP candidate Matt Kemp on the roster, the pieces are there to start building a winner.
I’m not sure how quickly that’s going to be possible with that outrageous purchase price. How much money do these guys have left to spend on the roster?
Clearly, I’m not some kind of financial adviser. I don’t know all of the real specifics of the deal, or what the guys in this new ownership group are planning to do. But this just doesn’t seem like a very good business deal. Unless, of course, you’re former owner Frank McCourt. Nice profit, right?
And McCourt would still own half of the land around Dodger Stadium, including his parking lots. So, this group just paid $2 billion and didn’t get rid of McCourt. That doesn’t sound like the smartest move, either.
Like I said, I’m not a businessman, but I don’t see how this makes any sense. Good luck, Magic.