Frank McCourt has a "slush fund," secret partners and pays his kids to do nothing

16 Comments

John Weinbach of FanHouse reports some more unseemliness from the land of Frank McCourt and the Dodgers:

Over the past 18 months, the Los Angeles Dodgers paid nearly $4 million
in “consulting services” to [the John McCourt Company], an entity that
has done virtually nothing for the club, even as the team has made a
concerted effort to raise ticket prices, trim payroll and acquire
players on the cheap. Moreover, the club paid two of Frank and Jamie
McCourt’s adult sons large salaries — $400,000 and $200,000 per year,
respectively — for services that are undefined and could not be
described by either Frank or Jamie McCourt, according to court documents
filed in the couple’s divorce case.

Jamie McCourt’s attorneys call the John McCourt company a “slush fund” which Frank uses to hide money.  My guess is that she’s less critical of the big salaries her kids make for apparently do-nothing jobs.

In addition, there are apparently two limited partners in the Dodgers — guys no one ever knew about, but who provided considerable funds to the McCourts to buy the team — whose debt gets converted into “sizable equity” in the team if the McCourts default on the loans.

On the one hand this is shocking — and Josh Fisher does his excellent-as-usual job breaking down all of the implications, complete with an apt comparison to the Texas Rangers, who are poster children for what happens when good teams go into bad debts like the McCourts seem to have done.

On the other hand, I would not be at all shocked if multiple teams in Major League Baseball operated in just the same way, complete with family jobs, slush funds, silent partners and all manner of vehicles which, either intentionally or by happy accident, work to conceal the amount of cash a baseball team really earns and where its money is spent.  Baseball teams are almost all purely private companies, most of which are family owned. Despite their antitrust exemption and all of the tax money they consume in the form of public stadiums and the like, we know just as much about their operations as we do the corner gyro shop, and that’s just the way they like it.

The only difference here: we have a divorce case in which these machinations are laid bare.  And however distressing it is for Dodgers fans to see where all the money that should be going towards starting pitching is going, these revelations are educational and useful.

Yankees star Judge hits 61st home run, ties Maris’ AL record

aaron judge
Cole Burston/Getty Images
3 Comments

TORONTO — Aaron Judge tied Roger Maris’ American League record of 61 home runs in a season, hitting a tiebreaking, two-run drive for the New York Yankees in the seventh inning against the Toronto Blue Jays on Wednesday night.

The 30-year-old slugger drove a 94.5 mph belt-high sinker with a full-count from left-hander Tim Mayza over the left-field fence at Rogers Centre. The 117.4 mph drive took just 3.8 seconds to land 394 feet from the plate, and it put the Yankees ahead 5-3.

Judge watched the ball clank off the front of the stands, just below two fans who reached over a railing and tried for a catch. He pumped an arm just before reaching first and exchanged a slap with coach Travis Chapman.

The ball dropped into Toronto’s bullpen and was picked up by Blue Jays bullpen coach Matt Buschmann, who turned it over to the Yankees.

Judge’s mother and Roger Maris Jr. rose and hugged from front-row seats. He appeared to point toward them after rounding second base, then was congratulated by the entire Yankees team, who gave him hugs after he crossed the plate.

Judge moved past the 60 home runs Babe Ruth hit in 1927, which had stood as the major league mark until Maris broke it in 1961. All three stars reached those huge numbers playing for the Yankees.

Barry Bonds holds the big league record of 73 for the San Francisco Giants in 2001.

Judge had gone seven games without a home run – his longest drought this season was nine in mid-August. This was the Yankees’ 155th game of the season, leaving them seven more in the regular season.

The home run came in the fourth plate appearance of the night for Judge, ending a streak of 34 plate appearances without a home run.

Judge is hitting .313 with 130 RBIs, also the top totals in the AL. He has a chance to become the first AL Triple Crown winner since Detroit’s Miguel Cabrera in 2012.

Maris hit No. 61 for the Yankees on Oct. 1, 1961, against Boston Red Sox pitcher Tracy Stallard.

Maris’ mark has been exceeded six times, but all have been tainted by the stench of steroids. Mark McGwire hit 70 home runs for the St. Louis Cardinals in 1998 and 65 the following year, and Bonds topped him. Sammy Sosa had 66, 65 and 63 during a four-season span starting in 1998.

McGwire admitted using banned steroids, while Bonds and Sosa denied knowingly using performing-enhancing drugs. Major League Baseball started testing with penalties for PEDs in 2004, and some fans – perhaps many – until now have considered Maris the holder of the “clean” record.

Among the tallest batters in major league history, the 6-foot-7 Judge burst on the scene on Aug. 13, 2016, homering off the railing above Yankee Stadium’s center-field sports bar and into the netting above Monument Park. He followed Tyler Austin to the plate and they become the first teammates to homer in their first major league at-bats in the same game.

Judge hit 52 homers with 114 RBIs the following year and was a unanimous winner of the AL Rookie of the Year award. Injuries limited him during the following three seasons, and he rebounded to hit 39 homers with 98 RBIs in 2021.

As he approached his last season before free agent eligibility, Judge on opening day turned down the Yankees’ offer of an eight-year contract worth from $230.5 million to $234.5 million. The proposal included an average of $30.5 million annually from 2023-29, with his salary this year to be either the $17 million offered by the team in arbitration or the $21 million requested by the player.

An agreement was reached in June on a $19 million, one-year deal, and Judge heads into this offseason likely to get a contract from the Yankees or another team for $300 million or more, perhaps topping $400 million.

Judge hit six homers in April, 12 in May and 11 in June. He earned his fourth All-Star selection and entered the break with 33 homers. He had 13 homers in July and dropped to nine in August, when injuries left him less protected in the batting order and pitchers walked him 25 times.

He became just the fifth player to hold a share of the AL season record. Nap Lajoie hit 14 in the AL’s first season as a major league in 1901, and Philadelphia Athletics teammate Socks Seabold had 16 the next year, a mark that stood until Babe Ruth hit 29 in 1919. Ruth set the record four times in all, with 54 in 1920, 59 in 1921 and 60 in 1927, a mark that stood until Maris’ 61 in 1961.

Maris was at 35 in July 1961 during the first season each team’s schedule increased from 154 games to 162, and baseball Commissioner Ford Frick ruled if anyone topped Ruth in more than 154 games “there would have to be some distinctive mark in the record books to show that Babe Ruth’s record was set under a 154-game schedule.”

That “distinctive mark” became known as an “asterisk” and it remained until Sept. 4, 1991, when a committee on statistical accuracy chaired by Commissioner Fay Vincent voted unanimously to recognize Maris as the record holder.