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Final (Opening) Bids Due Today!

Found January 23, 2012 on Sons of Steve Garvey:
PLAYERS: Frank McCourt
TEAMS: Los Angeles Dodgers

Mccourt-mccourt
The Dodgers' sale process formally begins today! And the key point from the LAT's Bill Shaikin is, don't cry for Frank McCourt: How much money does McCourt need to break even? That could be a billion-dollar question. In a court filing last week, the Dodgers listed $573 million in debt. McCourt has the option to sell or keep the Dodger Stadium parking lots, but the McCourt entity that owns them carries debt of about $70 million. McCourt's divorce settlement obligates him to pay his ex-wife $131 million and pay off an $18-million mortgage. He owes $30 million to Fox, to repay a personal loan. In addition, his attorneys have estimated the tax liability from the sale of the team at "between $80 million and $200 million." By using the higher number and including the parking lot debt, his total obligations would reach $1.02 billion. So how might McCourt make out financially? Just fine, thank you. He and his advisors think the Dodgers could sell for at least...
Original Story: http://www.sonsofstevegarvey.com/2012...
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