A Quick Recap.
"er- ah I am not a crook"
Frank McCourt somehow used his wicked Boston accent and conned Major League Baseball into walking away with the winning bid for Los Angeles Dodgers 8 years ago. He was able to buy them largely on credit, some estimates have him only paying 6 million bucks out of his own pocket. Some how Comissioner Selig approved the deal. Once he became the owner, Frank and his wife went on to use the Dodgers as their personal ATM. Things really hit the fan when his Jamie filed for divorce.
Many assessments have McCourt leaving Dodgers with a $400 million dollar debt. The sick part about it, all of that will be paid off by Magic Johnson's Guggenheim Group. When the dust settles Frank will get all his books cleared and still walk away with close to a billion dollars from the sale... oh yeah he also got away with only having to pay his ex-wife 1/10 of what she would of got if she waited Frank out and didn't sign away her stake in the Dodgers. The divorce ended up costing McCourt pennies on the dollar, all of which Dodgers fan actually paid anyway.
McCourt started with a $430 million asset and turned it into a $2.15 Billion dollar franchise over an 8 year time period. He ends up selling the Dodgers for 5 times the amount he bought it for. He is going to end up pocketing a Billion dollars when the sale goes through the biggest investment turn around in sport franchise sale history.
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