Associated Press
LOS ANGELES -- The $430 million sale of the Los Angeles Dodgers from News Corp. to Boston real estate developer Frank McCourt was unanimously approved Thursday by baseball owners.
"Welcome to a new era of Dodger baseball," McCourt said during a news conference at Dodger Stadium. "I intend to restore the glory days of Dodger baseball with a team worthy of support from our fans."
The price is the second-highest for a baseball team, trailing only the $660 million paid for the Boston Red Sox two years ago. The highly leveraged purchase, likely to be finalized within a week, probably will set off the third change in management in six years for the marquee franchise, which hasn't advanced to the playoffs since 1996.
"The Dodgers are one of our great franchises," commissioner Bud Selig said in a telephone interview. "We need stability there. We need a lot of energy. Having an unresolved ownership situation was, frankly, hurting the franchise."
News Corp. bought the team in March 1998 from the O'Malley family for $311 million. The corporation quickly tired of running the club, and former movie executive Robert Daly took over as chief executive officer in October 1999 after purchasing a minority stake.
Daly has said he will depart when the sale closes. The futures of team president Bob Graziano, general manager Dan Evans and manager Jim Tracy are uncertain as the Dodgers prepare to report to spring training on Feb. 18.
"This is not just one of the greatest franchises in baseball, it's one of the greatest teams in all of sports,'' said McCourt, who met Thursday with Los Angeles Mayor James K. Hahn. "I take to heart all the responsibilities that come with it."
Los Angeles finished second in the NL West last season at 85-77 despite the worst offense in the major leagues. Still, the Dodgers drew over 3 million fans for the eighth straight year.
With the sale pending, the Dodgers made few moves during the offseason. Their only free-agent additions were right-handers Rick White and Jose Lima and infielder Jose Hernandez, who agreed to minor league contracts, and Bubba Trammell, who's expected to come off the bench.
A few miles to the south, the 2002 World Series champion Anaheim Angels added pitchers Bartolo Colon and Kelvin Escobar and outfielders Vladimir Guerrero and Jose Guillen.
McCourt, whose grandfather was part owner of the Boston Braves, announced Oct. 10 he had agreed to buy the team along with Dodger Stadium and adjoining real estate, plus training facilities in Vero Beach, Fla., and the Dominican Republic.
He had lengthy talks with officials of the commissioner's office and other owners, who were concerned about the amount of debt in the deal. News Corp. will retain a minority stake.
Selig is convinced McCourt has the money to make the team successful.
"We have more stringent ownership rules than we've ever had," Selig said. "The banks were satisfied. We were satisfied. There's no doubt in my mind that he is will be a good owner of a very storied franchise."
Once one of baseball's most stable organizations, the Dodgers have won six World Series championships -- the first in 1955 while playing in Brooklyn. Walter O'Malley moved them to Los Angeles after the 1957 season and they won the title in 1959, 1963, 1965, 1981 and 1988. But they haven't won a postseason game since their last championship.
Hall of Famer Tommy Lasorda, who managed the Dodgers to their last two World Series triumphs, is a senior vice president whose future with the organization also is in question.
The O'Malley family controlled the Dodgers for nearly 48 years before selling to News Corp. Many of the team's moves since that sale didn't work out. In May 1998, popular catcher Mike Piazza was dealt to the Florida Marlins after he turned down a contract offer that would have been baseball's richest.
Kevin Malone became general manager that September and signed free-agent pitcher Kevin Brown to a $105 million, seven-year contract, then baseball's richest deal.
Malone was fired in April 2001 following a dispute with a fan in the stands during a game in San Diego, and Brown was traded to the Yankees last month.
Evans became GM at the end of the 2001 season -- Tracy's first as manager. Evans and Tracy are both under contract for this season.
HOPEFULLY THEY WILL GET BACK TO THEIR GLORY DAYS.
LOS ANGELES -- The $430 million sale of the Los Angeles Dodgers from News Corp. to Boston real estate developer Frank McCourt was unanimously approved Thursday by baseball owners.
"Welcome to a new era of Dodger baseball," McCourt said during a news conference at Dodger Stadium. "I intend to restore the glory days of Dodger baseball with a team worthy of support from our fans."
The price is the second-highest for a baseball team, trailing only the $660 million paid for the Boston Red Sox two years ago. The highly leveraged purchase, likely to be finalized within a week, probably will set off the third change in management in six years for the marquee franchise, which hasn't advanced to the playoffs since 1996.
"The Dodgers are one of our great franchises," commissioner Bud Selig said in a telephone interview. "We need stability there. We need a lot of energy. Having an unresolved ownership situation was, frankly, hurting the franchise."
News Corp. bought the team in March 1998 from the O'Malley family for $311 million. The corporation quickly tired of running the club, and former movie executive Robert Daly took over as chief executive officer in October 1999 after purchasing a minority stake.
Daly has said he will depart when the sale closes. The futures of team president Bob Graziano, general manager Dan Evans and manager Jim Tracy are uncertain as the Dodgers prepare to report to spring training on Feb. 18.
"This is not just one of the greatest franchises in baseball, it's one of the greatest teams in all of sports,'' said McCourt, who met Thursday with Los Angeles Mayor James K. Hahn. "I take to heart all the responsibilities that come with it."
Los Angeles finished second in the NL West last season at 85-77 despite the worst offense in the major leagues. Still, the Dodgers drew over 3 million fans for the eighth straight year.
With the sale pending, the Dodgers made few moves during the offseason. Their only free-agent additions were right-handers Rick White and Jose Lima and infielder Jose Hernandez, who agreed to minor league contracts, and Bubba Trammell, who's expected to come off the bench.
A few miles to the south, the 2002 World Series champion Anaheim Angels added pitchers Bartolo Colon and Kelvin Escobar and outfielders Vladimir Guerrero and Jose Guillen.
McCourt, whose grandfather was part owner of the Boston Braves, announced Oct. 10 he had agreed to buy the team along with Dodger Stadium and adjoining real estate, plus training facilities in Vero Beach, Fla., and the Dominican Republic.
He had lengthy talks with officials of the commissioner's office and other owners, who were concerned about the amount of debt in the deal. News Corp. will retain a minority stake.
Selig is convinced McCourt has the money to make the team successful.
"We have more stringent ownership rules than we've ever had," Selig said. "The banks were satisfied. We were satisfied. There's no doubt in my mind that he is will be a good owner of a very storied franchise."
Once one of baseball's most stable organizations, the Dodgers have won six World Series championships -- the first in 1955 while playing in Brooklyn. Walter O'Malley moved them to Los Angeles after the 1957 season and they won the title in 1959, 1963, 1965, 1981 and 1988. But they haven't won a postseason game since their last championship.
Hall of Famer Tommy Lasorda, who managed the Dodgers to their last two World Series triumphs, is a senior vice president whose future with the organization also is in question.
The O'Malley family controlled the Dodgers for nearly 48 years before selling to News Corp. Many of the team's moves since that sale didn't work out. In May 1998, popular catcher Mike Piazza was dealt to the Florida Marlins after he turned down a contract offer that would have been baseball's richest.
Kevin Malone became general manager that September and signed free-agent pitcher Kevin Brown to a $105 million, seven-year contract, then baseball's richest deal.
Malone was fired in April 2001 following a dispute with a fan in the stands during a game in San Diego, and Brown was traded to the Yankees last month.
Evans became GM at the end of the 2001 season -- Tracy's first as manager. Evans and Tracy are both under contract for this season.
HOPEFULLY THEY WILL GET BACK TO THEIR GLORY DAYS.