May 30, 2012 |
Irony is one of our most overused words, but come on … News has come from back east that the law firm of Dewey & LeBoeuf is filing for bankruptcy. Besides the little detail that this is the largest law firm to go under in U.S. history, there is this one other notable fact: The law firm going bankrupt is the same law firm that handled Frank McCourt's bankruptcy of the Dodgers. In its filing, Dewey lists liabilities “in the range” of $100 million to $500 million; if that's the best estimate it can come up with, it's no wonder these guys got into financial trouble.
November 25, 2012 |
Maybe you're not a big Bud Selig fan. Maybe you're still irked about that Milwaukee All-Star game or that he ever allowed the Dodgers to be sold to Frank McCourt or an inability to find a new barber. But say this for Selig, when he dug in his heels on McCourt, he dug them in all the way. And he's looking smarter for it by the day. Remember back in the summer of 2011 when Selig rejected McCourt's efforts to sign a new media-rights deal with Fox? He had several excellent reasons - - like not wanting to see over half the $385 million up-front money go directly to the McCourts - - but the first factor mentioned in his letter of rejection was because it was “clear that you are pursuing the proposed transaction now, rather than waiting until you can 'test the market,' due to your own personal financial and marital issues.” At the time, McCourt contractually could only negotiate directly with Fox. And although the $3-billion deal sounded impressive at the time, it's starting to look like a half-price sale.
November 14, 2011 |
Frank McCourt apologized to Dodgers fans for the ownership struggle of the last two years and said he was "at peace" with the result of battles in which he took on his ex-wife in divorce court and Commissioner Bud Selig in U.S. Bankruptcy Court. McCourt agreed to sell the Dodgers two weeks ago, signing a document that renders the decision "irrevocable. " In his first public comments since then, he said Monday that he had no regrets about the decision to sell. "It got to a point where it became very, very clear to me that it was the right decision," he said.
April 29, 2011
It looks like Frank McCourt's plan to put an NFL team in Chavez Ravine is right on track. With Tom Schieffer, he now has a receiver. Jim Meser Simi Valley :: Frank McCourt could settle his divorce, sell the Dodgers for an estimated $650 million, pay off his $475 million in debt and conceivably walk away from this soap opera with a cool $90 million plus all the homes he bought with his ex-wile. But no, Frank is going to battle the commissioner, the league and the fans.
June 26, 2010 |
Frank McCourt has added a star trial lawyer to his legal team, ensuring that a nationally prominent attorney will lead each side in the battle for ownership of the Dodgers. Stephen Susman, a Houston-based attorney ranked by several legal publications as one of the premier trial lawyers in the country, is the latest addition to the all-star teams representing McCourt and his estranged wife, Jamie, in divorce proceedings. "It's like having your best athletes take the field," said Loyola Law School professor and legal commentator Laurie Levenson.
February 24, 2012 |
Each of us, like it or not, finds his own calling in life. Frank McCourt has found his. He parks cars. We all stretch for bigger things. It is human nature. Draftsmen see themselves designing skyscrapers. Five-foot-eight high school basketball players see themselves in the NBA. McCourt saw himself as the owner of the Dodgers. After a while, we saw otherwise. We aren't sure exactly when the Peter Principle set in with McCourt, but the day he got on the plane in Boston and headed west is as good a guess as any. In the sports vernacular of the day, we thought we had put him behind us. He had walked down a dusty street at high noon, and Bud Selig drew first.
December 29, 2012 |
Are you missing Frank McCourt? OK, it wasn't a serious question. Still, there could be a twisted form of the Stockholm syndrome going on for some. You know, where kidnapping victims start feeling empathetic toward their captors. Our boy Frank, of course, has been mercifully quiet on the public scene since he bankrupted the Dodgers and walked away with a billion dollars after selling the franchise for $2.15 billion. And they say money can't buy happiness. But Frank appears to have reemerged, though not locally.
May 10, 2011 |
During a Monday morning radio appearance in New York, Commissioner Bud Selig announced that he had appointed former San Diego Padres President Dick Freeman as an assistant to Dodgers trustee Tom Schieffer. Within hours, Major League Baseball had rescinded the appointment, citing only a "potential conflict. " The conflict: Freeman advised Jamie McCourt last year, during her divorce proceedings against Dodgers owner Frank McCourt, according to a letter sent Tuesday from Robert Sacks, an attorney for Frank McCourt, to Brad Ruskin, an attorney representing MLB. "Unfortunately, this latest episode reinforces the concern that Mr. McCourt is being subjected to discriminatory and unfair treatment," Sacks wrote, "through a process designed to reach a predetermined outcome, without appropriate diligence, independence or care.
April 24, 2013 |
Jamie McCourt has no claim to half the proceeds from the sale of the Dodgers and no grounds to throw out a divorce settlement never intended to provide her with that, an attorney for Frank McCourt argued in court Wednesday. Los Angeles Superior Court Judge Scott Gordon heard closing arguments in the matter on Wednesday, then indicated he would not rule before a related procedural hearing on June 5. The Dodgers were sold for $2 billion last year, five months after Jamie McCourt agreed to settle the couple's divorce by relinquishing any claim to the team in exchange for $131 million.