DealZone

Cuban would like to own the Dodgers

November 10, 2009

dodgersMark Cuban lost out in the fight for the Chicago Cubs. But that didn’t get him down — he told the Los Angeles Times on Monday he would consider buying the Los Angeles Dodgers if the terms were right.

Now the Dodgers are not on the block, but a divorce proceeding between the owners — Frank McCourt and his wife Jamie — has sparked speculation about the team’s future.

McCourt says a post-nuptial agreement gives him sole ownership and that the team is not for sale. But his wife says she is a co-owner and lawyer said she has lined up financing to buy out McCourt’s stake. While the two go at it, Cuban not-so-quietly told the newspaper he has received requests from fans asking him to buy the team.

“I’m not a fan of debt-driven acquisitions,” Cuban, who owns the Dallas Mavericks wrote to the newspaper. “If a unique situation came up where I could contribute capital to buy out a majority shareholder and gain control, with existing shareholders or note holders staying in place, I would consider it.”

The McCourts announced their separation last month, after her husband fired her as chief executive of the team. Her husband claimed she was having an affair with her bodyguard-driver and was doing a poor job in her role as chief executive.

The Dodgers won’t be cheap. In April, Forbes magazine valued the Dodgers as the fourth most valuable team in baseball at $722 million. A 95 percent stake in the Chicago Cubs, ranked No. 5, just sold for a record $845 million.  Cuban didn’t make it to fourth base with the Cubs, but could he hit a home-run on this one?

We’ll have to wait and see. A December 15 hearing will decide the validity of the post-nuptial agreement between the McCourts.

Comments
One comment so far | RSS Comments RSS

Mark Cuban to the rescue !!!

Posted by Loyd Champion | Report as abusive
 

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/