The Dodgers were just purchased by an investment group led by Magic Johnson for $2 billion. This is an absolutely terrible fucken deal.
$2 billion is way too much money for that team, which was appraised about a year ago for $800 million. Yeah, new teevee deals, but not worth that much more.
Also, the former owner Frank McCourt has retained a substantial amount of the valuable land and parking lots that surround Dodger Stadium, which is an old decrepit shittehole and not the kind of cash cow like the new ballparks Yankee Stadium, Mets Stadium, Phillies Stadium, etc, with huge amounts of luxury boxes and awesome food, drink, and other opportunities for fans to be separated from their cash.
My guess–without knowing the details of the arrangements among the investors in Johnson’s group–is that Johnson and a few serious big money people are general partners and will be taking out profits early and often have roped in a shittetonne of limited partners who will not be taking out profits ever, if at all, and are just starstruck sort-of-rich motherfuckers who allowed the fantasy of “owning a baseball team” to lead them into a horrendous business deal that is nothing more than a wealth transfer from them to a handful of super-rich motherfuckers.
Oh, and BTW, guess who is gonna have to foot a lot of the bill for this absurd purchase price? Here’s a hint: What do you think is gonna happen to ticket, food, and beer/booze prices at Dodger Stadium in the wake of this deal?