Blog Entry

Mark Cuban tried to buy Dodgers

Posted on: November 1, 2011 9:17 pm
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Cuban


By Evan Brunell


Mark Cuban, whom many have seen as a savior if only baseball would allow him to buy a team, tells the Los Angeles Times that he looked into buying the Dodgers only to balk at the asking price.

Current owner Frank McCourt, who may be close to reaching a settlement with MLB to sell his team and emerge from bankruptcy, valued the club at $1 billion to $1.2 billion, causing Cuban to pass.

"At that price, I wasn't interested," Cuban said. He later added that should the price come down, he would be interested in purchasing the team. However, that price is expected to be met in any settlement or sale of the team. The assets being sold aren't just the team itself, but Dodger Stadium and additional assets, such as parking lots around the stadium. McCourt's attorneys valued the whole price at over $1 billion in recent court filings. Forbes valued the assets at $800 million in March.

Cuban missed out on buying the Cubs and then lost out on the Rangers in a bankruptcy auction in the summer of 2010. Nolan Ryan's group eventually bought the Rangers for $593 million.

"I don't think the Dodgers franchise is worth twice what the Rangers are worth," Cuban said, also noting that stadium renovations would affect any sale price. Cuban ticked off stadium renovation, losing luxury-suite customers to an expected NFL team in Los Angeles and the absence of a salary cap as an impetus toward owning a baseball team. Cuban says that if the sale price is too high, he would pass because it would compromise his ability to invest in the team.

However, the new owner of the Dodgers is going to be able to negotiate a new television deal. McCourt had previously agreed to a $3 billion deal with Fox Sports before commissioner Bud Selig rejected the deal, sparking the situation McCourt and the Dodgers find themselves in today. Cuban did admit that a new TV deal, which could fetch even more money, could help, but would not want to borrow against that money to finance the team -- something McCourt has no problem doing, as well as borrowing to finance his own divorce and personal assets.

"I don't want to be in a position to have a lot of debt," Cuban said. "Those would be dollars that could not be used to put together a winning team."

And yet, we now see that he's tried to own a baseball team three separate times, so the desire is clearly there. The Dodgers would be a fantastic get for Cuban as one of the most storied franchises in sports. The investor currently owns the Dallas Mavericks, which won the NBA championship last season.

Read more McCourt coverage from Eye on Baseball.

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Comments
hootseek
Since: Nov 1, 2011
Posted on: November 2, 2011 1:01 pm
This comment has been removed.

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Since: Sep 30, 2011
Posted on: November 2, 2011 12:15 pm
 

Mark Cuban tried to buy Dodgers

Mark Cuban will not buy the Dodgers because Mark Cuban invests in smart distressed assets that have the potential for a huge payout.  The price tag on the Dodgers which includes adjacent parking and other real estate and rights is simply too high.  The stadium needs a face-lift, and the Dodgers will competing with an NFL franchise or two shortly.

If Baseball had any brains, it would figure out how to get Gilbert or Cuban in as the owner.  Find a price that works, this is not about Frank getting his before he goes.......the man should be left with what he deserves, absolutely nothing.  He should get enough to pay off his debts, and that is it, he is not entitled to make out ahead on this, despite what he thinks.

This is one of the biggest problems today, the person(s) who break up what was working before them all eventually cave to pressure and get out.......however they are allowed to insert terms that keep them a billionaire at the expense of others.  If you fail, you pay the price, lose your A@# and move on.  Pick yourself up and get busy working, do not ask for someone else to bail you out.



Since: Oct 25, 2011
Posted on: November 2, 2011 1:56 am
 

Mark Cuban tried to buy Dodgers

I would totally be fine with Mark Cuban buying the Dodgers I think he could help turn it arond her



Since: Jul 22, 2007
Posted on: November 2, 2011 1:05 am
 

Mark Cuban tried to buy Dodgers

Here's a great article on Gilbert that backs up everything i've said and you tell me how this guy isn't the PERFECT fit to own the Dodgers!
 



Since: Jul 22, 2007
Posted on: November 2, 2011 1:03 am
 

Mark Cuban tried to buy Dodgers

It's not that MLB has set the price so high to keep Cuban out.
There was a legitimate offer a couple of months back for the Dodgers, given that the team IS in the #2 Tv market in the country, has the history & tradition it does, the stadium would come with it along with the parking lots it's a very fair price.
The man who SHOULD and I hope DOES buy the Dodgers is Dennis Gilbert, he's a Southern California native, life long Dodger fan, has season tickets and can be seen behind homeplate at EVERY home game, he's also a former player, agent and front office executive so he knows every aspect of the game and can bring that expertise in running the Dodgers.
Add to that his connections in the business, sports & entertainment industry in particular in Los Angeles and that he's been a successful business man both as an agent and in his insurance business and you can see that he also has the business smarts to run the team successfully.
He could put together a STRONG group of investors to buy the team, there won't be any concerns about not meeting payroll, no funny accounting, no money being siphoned off for personal use.
His group came in second when the Rangers were up for sale going up against a very strong group lead by Chuck Greenberg & Nolan Ryan, all things being equal it was a good thing Ryan's group got the Rangers as he is beloved within that community, it makes marketing sense and the rest of the group was just as strong as Gilberts.
The other reason it's a good thing is because it then allows Mr. Gilbert to put a group together to buy the Dodgers which as I said above I hope he does to bring stability & stregnth back to one of the crown jewels in MLB. 



Since: Jul 3, 2007
Posted on: November 1, 2011 10:32 pm
 

Mark Cuban tried to buy Dodgers

The MLB doesn't want Cuban to get involved in baseball because Mark Cuban is:

a)A genius

b)A winner

c)Ruthless

d)Creative

e)Passionate

And given these things, he would dominate the MLB and it wouldn't be fair to the other competition. If only Mark Cuban bought my Mets. Given the last ten years of frivolous spending onto a fragile foundation, they are a challenge that only the true geniuses of our time can solve at this point. Getting those guys a WS would be his greatest success since BluRay



Since: Nov 1, 2011
Posted on: November 1, 2011 10:17 pm
 

Mark Cuban tried to buy Dodgers

MAVS BABY THE MAN IS A WINNER QUIT HATING!!!! YA DIGG



Since: Dec 21, 2006
Posted on: November 1, 2011 10:15 pm
 

Mark Cuban tried to buy Dodgers

this is old news.

is larry dolan in critical condition yet? 



Since: Aug 15, 2006
Posted on: November 1, 2011 9:34 pm
 

Mark Cuban tried to buy Dodgers

I pray he buys the Dodgers.  I'll be first in line for season tickets. 




Since: Oct 23, 2006
Posted on: November 1, 2011 9:27 pm
 

Mark Cuban tried to buy Dodgers

just let him buy the pirates already..


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