Thursday, November 04, 2004
Dodgers Likely to Whiff on Resigning Beltre
Adrain Beltre is one of the free agents the Mariners are likely to pursue. At various fans sites I've seen comments questioning whether the Mariners will be able to compete with the Dodgers for Beltre, the premise being that the Dodger's are a big market team that can easily resign him. While the Dodgers are a team that operates in a big market, the Dodgers' capitalization is a financial house of cards that looks more like a penny mining stock listed on the Vancouver Stock Exchange than the finances of a Major League Baseball team.
McCourt borrowed $225 million of of the $430 million purchase price for the team. At least $145 million of that is due in two years. These loans are backed by personal assets that are the basis of McCourt's non-baseball business interests. Until these loans are taken care of, the Dodgers are a team with small market finances. The Dodgers are more likely to pursue Glaus than Beltre.
The late and greatly lamented Doug Pappas posted a summary of McCourt's purchase at his Business of Baseball weblog (which I used as the source for this post). Doug also provided this link to a pdf file that is a memo from Selig's office describing details of the McCourt's purchase.