Being a sports fan living in Los Angeles definitely has its perks. This is especially true if, like myself, you grew up rooting for the LA teams, and dreamt of spending every day going to Lakers, Dodgers, and, Kings games, and somehow getting paid to do it (is there such a thing as a professional fan?). My apartment is quite literally right down the street from Staples Center, and a mere seven miles away from Dodger Stadium. Life doesn't get much sweeter than that.
Being an LA sports fan also has its perks. Los Angeles is the 2nd largest media market behind New York, and the team ownerships have the money and power to reflect that significant sphere of influence. Generally, LA fields respectable teams at the very least, and these squads are always seen as marquee opponents. In 2011, however, the LA Dodgers were trapped in a great deal of financial uncertainty that just did not make any sense. Amazingly, the Dodgers filed for bankruptcy on June 27, 2011, and sought numerous huge loans to continue its daily operations. More on this strange turn of events can be found here and here. The Sparknotes version:
- January 29, 2004 - Frank McCourt buys the Los Angeles Dodgers. Most of the money is borrowed as debt, and McCourt uses very little of his actual money.
- October 14, 2009 - The McCourts announce their separation
- April 5, 2011 - Fox provides the Dodgers with a $30 million loan to cover the payroll
- June 20, 2011 - The MLB declined to approve a $3 billion Fox Sports Net TV deal for the Dodgers
- June 27, 2011 - The Dodgers file for Chapter 11 bankruptcy and seek a $150 million hedge fund loan
- October 17, 2011 - Frank McCourt is ordered to pay $130 million to Jamie McCourt as part of the divorce settlement
- Long story short, McCourt bought the Dodgers with mostly borrowed money. McCourt and his wife began to exorbitantly spend money on homes, luxury items, vacations, etc. once the Dodgers were his. Once the divorce proceedings began, the Dodgers began to spend conservatively and were mired in mediocrity. The team was in a state of turmoil, and the divorce settlement was thought to be the largest in California history. McCourt refused to sell the team throughout this ordeal.
During this time, the Dodgers made virtually no player transactions, something that does not generally (read: never) sit well with a fan base that knows how profitable a sports team in LA should be. McCourt stopped signing off on free agent signings (bye, Hiroki Kuroda). If it weren't for his incredible regular season and runner-up finish to admitted cheater Ryan Braun in the NL MVP voting, Matt Kemp probably would not have received the contract extension he so desperately deserved.
And then, something wonderful happened. On May 1, 2012, the Dodgers were officially sold to the Guggenheim Baseball Management Group, a collective that included LA demigod Earvin Magic Johnson. Finally, the Dodgers were released from the torturous grasp of sleazeball Frank McCourt, and a huge sense of relief and optimism replaced the anger and frustration that Dodger fans had been suffering from.
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