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SBD/September 2, 2011/Franchises
McCourt Offered $1.2B For Dodgers From Group With Ties To Chinese Gov't
Published September 2, 2011
RED FOR THE WHITE AND BLUE? In L.A., Vincent Bonsignore notes "only time will tell how serious all this actually is." Bonsignore: "What will Major League Baseball think of 'certain state-owned investment institutions of the People's Republic of China' owning one of its storied franchises? And how inclined will McCourt be to give up his silly fight to retain ownership? ... Chances are McCourt will pass, still intent to fight this thing till the bitter end" (L.A. DAILY NEWS, 9/2). YAHOO SPORTS' David Brown writes, "Sounds like the Chinese are trying to make McCourt an offer he can't refuse." MLB Commissioner Bud Selig "wants McCourt out -- but would he take ol' Red China as a business partner as a means to an end?" Foreign investment "is rare, but isn't new in Major League Baseball; a group from Japan owns a stake in the Seattle Mariners." Still, the U.S.' "relationship with China is a little different." Brown added, "The men from China might not even be the issue here. Does McCourt even want to sell his beloved parking lots, along with the rest of the Dodgers? Considering how financially leveraged he's become -- with the club filing for bankruptcy and all -- selling the Dodgers for that much cash money might be the only way to get himself out of debt" (SPORTS.YAHOO.com, 9/1). ESPN L.A.'s Ramona Shelburne wrote under the header, "Right Owner Matters, Not The Price Tag" (ESPNLA.com, 9/1).