MLB to take over Dodgers operations (Mets cash strapped too)

[underpants]

Source: Fox Sports

Major League Baseball is performing an intervention on the Los Angeles Dodgers.

Commissioner Bud Selig will appoint a representative to oversee the club. Selig declined to identify the representative Wednesday, but he announced that the person would “oversee all aspects of the business and day-to-day operations of the Club.”

And McCourt could be in more trouble. TMZ reported Wednesday that the Internal Revenue Service is investigating the finances surrounding the Dodgers as well as Frank and Jamie McCourt.

According to the site, the IRS is looking into:

•Disclosures that the McCourts took $145 million from the team and paid no taxes.
•McCourt children receiving a salary but performing no services
•Team losses that were carried forward.


Read more: http://msn.foxsports.com/mlb/story/Major-League-Baseball-to-take-control-of-Los-Angeles-Dodgers-financial-operations-042011/?Gt1=39002

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Three groups interested in Mets stake
http://msn.foxsports.com/mlb/story/new-york-mets-attract-interest-from-three-investment-groups-for-minority-stake-040611

The Mets financial squeeze started on Dec. 11, 2008, when Bernie Madoff was arrested and charged with running a $65 billion Ponzi scheme. The team had been financing its day-to-day operation with Madoff profits. Without the steady revenue stream, the money-losing Mets were forced to borrow $25 million from the league last November.

[Ganja Ninja]

1. "McCourt children receiving a salary but performing no services"

Why can't all these lazy unemployed people get a job like them?:wtf:

[Loge23]

2. MLB is an unsustainable venture

We all know about the ridiculous contracts, outrageous prices at the ballpark, and - sadly - the waning interest in baseball among the fans (can you blame them??).
Sure, there are still profitable teams - mainly due to the media contracts that these teams sell off. The Dodgers have such a deal pending with FoxSports that will bring in $2.5B over 20 years. Interestingly, News Corp., owner of FoxSports, sold the team to Frank McCourt seven years ago.
But the model may be finally collapsing. The aforementioned NY Mets, my problem team, are paying Bobby Bonilla over $1M this year. Mr. Bonilla retired 10 years ago - from the St. Louis Cardinals! Of course, the Mets problems are well-documented, both financially and on the field. Revenue-sharing, where teams like the Red Sox and Yankees - and the Mets for that matter - pay a penalty tax for their bloated contracts to clubs in smaller markets. The FL Marlins, one of those "less fortunate" teams are finishing up their brand-new, tax-payer supported stadium in Miami after it was discovered that the team fleeced the City of Miami into coughing up $125M while the team poor-mouthed; all the while the team was posting a $30M profit!
Guaranteed contracts for mid-level players, $25 parking, and the infamous $8 beer may finally be catching up to the unbridled greed of these owners - owners like the McCourts (Dodgers), Jeffrey Loria (Marlins) and Wilpons (Mets) - wealthy individuals who seem to have little or no management ability.
Ironically for my long-suffering Mets, Fred Wilpon, owner of the Mets along with his silver-spoon son Jeff and Saul Katz, recently came under significant criticism from the fan base when the new Mets stadium, Citi Field was completed in 2010. The stadium paid homage to Mr. Wilpon's real favorite team - The Dodgers - by adapting the old Ebbetts Field architecture and prominently honoring a former Dodger, albeit the great Jackie Robinson, with a statue inside the grand entrance. This isn't about Mr. Robinson or his ground-breaking accomplishments. It's about another clueless owner essentially thumbing their noses at the fans who are expected to carry the load.
It's just not fun anymore.

[Bill McBlueState]

3. Please also take over the Pirates

MLB has to be able to run the team better than current management.

[Loge23]

5. Revenue sharing

I think the Pirates - one of my all-time favorite old teams - is a great example of revenue sharing as a business strategy.
Sad - to think of all the great players that came out of Pittsburgh.

[underpants]

7. They also need to set up a salary floor

meaning franchises have to actually spend a % of their revenue because clearly many clubs are tanking it on purpose.

[Historic NY]

4. If they can't make a go fold them up.

[alcibiades_mystery]

6. Aren't the Mets a minor league baseball team?

:-)

I say this as a lifelong Met fan.