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Saturday, October 09, 2004 |
Frank Gets A Refund
Interesting data point in this Washington Times story about the Baltimore Orioles. As a sidebar regarding team valuations, it says
People in the industry point to the sale of the Los Angeles Dodgers last year to real estate developer Frank McCourt as an accurate measure of what the Expos cost. The Dodgers reportedly sold for $421 million, but it actually will wind up being $371 million based on the deal in which Fox agreed to refund $50 million to McCourt next year [emphasis mine]. The deal included Dodger Stadium and valuable real estate (a possible home for a football stadium) surrounding it.Considering the original purchase price was listed at $430 million, this is a pretty big giveback, but I'm wondering whether the money returned as a result of Fox airing more games.
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