Los Angeles suffered a divorce worthy of soap opera status when the controversy of Dodgers ownership became public—Frank and Jamie McCourt engaged in a matrimonial battle that brought disgrace upon the vaunted Dodgers brand and disgust among the team’s loyal fan base. Plus, their spending habits approximated using the team’s coffers as a personal ATM machine. Bankruptcy forced a sale. In the country’s second biggest market, Major League Baseball could not afford a continuous display of greed in an era already tarnished by steroid use.
In her 2015 book The Best Team Money Could Buy, Molly Knight wrote, “But after they moved to Los Angeles their aspirations morphed into an insatiable obsession with status and material possessions. By 2009 the couple turned on each other, with Frank testing the limits of the amount of money he could borrow, and and Jamie instructing a Dodger executive to draw up a battle plan for her eventual ascendance to the office of president of the United States [sic].”
On May 1, 2012, a new era began in Chavez Ravine—Guggenheim Partners purchased the Dodgers for $2.15 billion. Led by CEO Mark Walter, Guggenheim boasted Magic Johnson as a minority owner with the credibility required to allow Los Angelenos a sigh of relief when one of its favorite sons appeared ready to restore the Dodgers brand from garnishment to luster.
MLB Commissioner Bud Selig offered respect to the devotees who saw more drama in the media’s recounting of the McCourt saga than in the games at Dodger Stadium. “In addition, I want to personally thank all Dodger fans for their patience and loyalty during this trying period,” said Selig. “I have said many times that we owed it to them to ensure that the club was being operated properly and would be guided appropriately in the future. It is my great hope and firm expectation that today’s change in ownership marks the start of a new era for the Los Angeles Dodgers and that this historic franchise will once again make the city of Los Angeles proud.”
Indeed, new ownership cleansed the toxicity plaguing the team. On 710 ESPN’s Mason & Ireland Show, Dodgers manager Don Mattingly noted, “It’s been a positive since the announcement of Magic and his group. You could feel a difference with the fans instantly. There’s been so much negative for the last few years that it just gets kind of old for guys that are playing because people aren’t showing up and it doesn’t have anything to do with if you win or not.”
In a 2015 profile titled “Who Is Dodgers Owner Mark Walter and Where Did He Get All That Money” for laweekly.com, Gene Maddause highlighted the financial health of the Dodgers resulting from an $8.35 billion television contract. In turn, Walter’s Guggenheim team fought the ghosts of the McCourt era by strategically reinforcing the $2.15 billion investment. Maddaus wrote, “A hundred million for stadium improvements? Sure. An $85 million contract for Andre Ethier? Uh, OK. How about $18 million a year to Matt Kemp to play for another team? Why not?”
Guggenheim prioritized the importance of repairing the tattered confidence of the Dodgers, beginning with signing Ethier. Knight noted, “Even though he was on the decline, and arguably the club’s tenth-best player at that point, the Dodgers re-signed him to a five-year, $85 million extension that raised eyebrows around the league for its generosity. But the new owners weren’t overpaying an aging outfielder as much as they were purchasing a citywide public service announcement letting fans know the bad times were over.”
A version of this article appeared on www.thesportspost.com on December 15, 2015.
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