Frank McCourt famously leveraged the Dodgers after purchasing them. Indeed, he saddled an asset he bought for $430 million with something like $433 million in debt. We knew that. His defense has always been, however, that the Dodgers are a cash cow and that there are tons of untapped revenue sources available. And that all may be true. But that’s not impressing lenders very much, reports Bill Shaikin of the L.A. Times:
McCourt was turned down at least three times — by Citibank, by a Chinese
investment group and by a Southern California infomercial king — in
trying to secure additional financing last year, according to documents
filed in the divorce case between him and his estranged wife, Jamie.
In a deposition, Dodgers Chief Financial Officer Peter Wilhelm said Citibank declined even to engage in serious negotiations.
“They did not feel that the Dodger organization had the capacity to take on more debt,” Wilhelm said.
Shaikin reports that the debt load “has limited how the Dodgers can pay their players and could affect the team’s ability to sign talent.” Doesn’t seem like there’s any “could” about it, given that another of the story’s quoted sources says that every free penny the team pulls in goes towards debt service.
McCourt has said all along that his divorce hasn’t had a negative impact on the Dodgers baseball operations. Maybe he’s right! It’s been everything about his management style prior to the divorce that was the real culprit.
Update (11:57 PM ET): And it’s over. Angel Pagan led off the bottom of the seventh with a line drive double down the left field line off of Stroman, ending the no-hitter. Manager Jim Leyland immediately removed Stroman from the game.
U.S. starter Marcus Stroman has held Puerto Rico hitless through six innings thus far in the World Baseball Classic final. The Blue Jays’ right-hander has held the opposition to just one base runner — a walk — with three strikeouts on 68 pitches.
WBC rules limit a pitcher to throwing a maximum of 95 pitches in the Championship Round, so Stroman has 27 pitches left with which to play. If he hits the limit during the at-bat, he can continue throwing to the completion of that at-bat. Needless to say, though, Stroman won’t be finishing his potential no-no.
The U.S. has given four runs of support to Stroman. Ian Kinsler hit a two-run homer in the third inning. Then, in the fifth, Christian Yelich and Andrew McCutchen both provided RBI singles. Update: The U.S. tacked on three more in the top of the seventh when Brandon Crawford drove in two with a bases-loaded single and Giancarlo Stanton followed up with an RBI single.
We’ll keep you updated as Stroman and any pitchers that follow him attempt to complete the no-hitter. Shairon Martis is the only player to throw a no-hitter in WBC history. However, the game ended after seven innings due to the mercy rule, or as it’s known now, the “early termination” rule.
Ian Kinsler found himself in hot water on Wednesday evening when he criticized the way players from Puerto Rico and the Dominican Republic play baseball. It is his hope that kids watching the World Baseball Classic decide to emulate the emotionless way players from the U.S. play baseball as opposed to the exciting, cheerful way players from other countries tend to play the game.
Needless to say, Kinsler’s comments didn’t sit well with many people, but he has the most recent laugh. Kinsler broke a scoreless tie in the top of the third inning of Wednesday night’s WBC final against Puerto Rico, slugging a two-run home run to left-center field at Dodger Stadium off of Seth Lugo.
Kinsler, of course, rounded the bases solemnly which is sure to highlight just how cool and exciting the game of baseball is to international viewers.