Advertisement
YOU ARE HERE: LAT HomeCollectionsFrank Mccourt
IN THE NEWS

Frank Mccourt

SPORTS
April 22, 2013 | By Bill Shaikin
Frank McCourt has paid more than $460 million in state and federal taxes related to the sale of the Dodgers, one of his attorneys said Monday. McCourt sold the Dodgers for $2.15 billion last year in a transaction in which Guggenheim Baseball Management bought the team, Dodger Stadium and a 50% stake in the parking lots surrounding the stadium. McCourt retained a 50% stake in the parking lots. As part of the transaction, Guggenheim assumed $412 million in team debts, according to documents filed in U.S. Bankruptcy Court.
Advertisement
SPORTS
November 25, 2012 | By Steve Dilbeck
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.
SPORTS
May 30, 2012 | By Steve Dilbeck
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.
SPORTS
June 13, 2013 | By Bill Shaikin
On his first day as an owner of the Dodgers, Magic Johnson had heard one too many questions about Frank McCourt, and what role the outgoing owner would continue to play at Chavez Ravine. "Frank is not here. He is not part of the Dodgers any more ," Johnson said. "We should be clapping for that. " McCourt might not be part of the baseball team any more, but he remains a major player in deciding the future of the land surrounding Dodger Stadium. As  The Times reported  Wednesday night, McCourt could be the sole landlord for an NFL stadium put up on the Dodger Stadium parking lots.
SPORTS
November 14, 2011 | By Bill Shaikin
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.
SPORTS
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.
SPORTS
November 4, 2011 | By Bill Shaikin
Frank McCourt, who agreed this week to sell the Dodgers, also has put the Los Angeles Marathon up for sale. McCourt expects the Dodgers to sell for more than $1.2 billion at auction, according to a person familiar with that sale process. The marathon probably would sell for less than $20 million, according two racing industry executives who declined to be identified. McCourt bought the marathon three years ago, revitalizing the race with a course that starts at Dodger Stadium, runs through Hollywood and Beverly Hills and ends in Santa Monica.
SPORTS
June 26, 2010 | By Bill Shaikin
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.
SPORTS
October 29, 2009 | Bill Shaikin
The reinstatement of Jamie McCourt as the Dodgers' chief executive officer would be "akin to throwing a bomb into a crowded room," lawyers for Frank McCourt argued in court papers filed Wednesday. On the day after Jamie McCourt filed for divorce, Frank McCourt said in his filing that he fired his estranged wife for having an affair with her driver and for repeatedly undermining the chain of command by not reporting directly to him. Dennis Mannion, the Dodgers' president, said in his filing that Jamie McCourt did not show up for work more than half the time, put her own image ahead of that of the team and "exhibited an almost disdainful disregard for the fundamental requirements of her job and workplace etiquette."
SPORTS
February 24, 2012 | Bill Dwyre
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.
Los Angeles Times Articles
|