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Wall Street takes a swing at the McCourts

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As try as we might we can't ignore the elephant in the room this Winter. On Sunday local Los Angeles NPR station KPCC (89.3) did a gig on the McCourts, for their town hall journal. 

Angelenos have been concerned about their beloved Dodgers ever since the cherished O'Malley family sold the franchise to Rupert Murdoch. Now that Frank and Jamie McCourt are in the midst of a very public divorce, fans fears are again on the rise. Join us this week as TOWN HALL Journal presents a brief history of Dodgers management as heard at TOWN HALL. This week's Journal includes Jamie McCourt's address at TOWN HALL when the family first came to Los Angeles, and this year's program with Frank McCourt. Both underscore the McCourt's commitment to the team and the community. They discuss the importance of the Dodgers Dream Foundation and the newly instituted "Ramirez Provision" which asks each Dodger to make a financial commitment to the community as part of their contract. The Vault segment features Tommy Lasorda from 1997 touting the importance of the team staying in the O'Malley family because "the game belongs to the fans." Host Judy Muller explores fan anxieties with Jon Weisman writer of the LA Times "Dodger Thoughts" blog. Finally, we take to the streets to get the fans feedback on the fate of their Los Angeles Dodgers. If you're blue about the Dodgers, you won't want to miss this show.

 

Today the Wall Street Journal took a look at the financial filings of the McCourt per the Divorce. Yikes

 

Ms. McCourt had been the Dodgers' chief executive until Mr. McCourt recently fired her from the job. In claiming sole ownership of the Dodgers, he pointed to a 2004 marital-property agreement the couple signed. His court filings contend the agreement gave him ownership of the Dodgers while she got ownership of the couple's residential properties. She disputes the claim.

While she owns the homes, he co-signed the mortgages, and the loans are currently $230,000 in arrears, his court filing said. His credit "is immediately and currently being adversely affected" by the past-due payments, the filing said. It asked the court to direct Ms. McCourt to "immediately bring the subject mortgage payments current."

The divorce filing by Ms. McCourt claimed that Mr. McCourt "has failed to pay a number of their living expenses since at least July 2009," including home mortgage payments, property taxes, utility bills and staff wages. Now that she no longer has her $2 million Dodgers salary, she was "no longer in a position to pay" all of her expenses, Ms. McCourt's filing said.

 

Listen to the KPCC gig, read the Wall Street Journal article, and then scream into a towel. And you guys are debating a Roy Halladay trade? Forget about it, this is going to be a no frills winter with plenty of PR pap to keep the Season Ticket holders from leaving but no real substance. That is my stance but hopefully I'm wrong. We will find out a bit more on Tuesday if Orlando is not offered arbitration because they fear he'd accept. If they are afraid of a Hudson contract only Jehovah knows what our future holds.