FanPost

Help - Is Frank McCourt A Financial Genius?

He buys the Dodgers for $420 million in 2004 using a leveraged buyout. This means he put a lot less than $420 million of his own money into the purchase. He then proceeds to milk maybe millions out of Dodger franchise while he owns it. The Dodgers are sold for $2.15 billion in 2012 eight years after he purchased them. He pays off his creditors and probably walks away with tens of millions if not hundreds of million from the sale after paying off his creditors.

On top of that he still owns the parking lot.

Dodger fans hate him for good reason, but he seems like a financial genius to me. What did I miss? Thanks

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