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Saturday, December 04, 2004

The Time Machine

There's an itch Dodger fans want to see very publically scratched right now, and that's the signing of free agents. Little wonder: the Dodgers have vacancies at three key positions: So the doubters are right on at least this point: the Dodgers need to get some players. But can they afford it? I'll be the first to confess that I was highly skeptical of Frank & Co.; but now that it's been almost a year since he bought the team we can look back at the originally published terms (modified slightly here via the Los Angeles Business Journal). Dodgerkid recently declared of the SEC filing (presumably he was discussing this 6-K) that "I believe that McCourt can comfortably have a 100 million dollar budget for eternity, and even with his financial set up, make a comfortable profit, pay off loans and debt, and run the team." Well, he's up to his armpits in debt, that's for sure, but some of that is convertable into equity -- essentially a meaningless kind of debt, in other words.

Without that I can read the specifics of the deal, I have no way of projecting what Frank will or won't do in the offseason. I'm not as sanguine as Dodgerkid, that's for sure. But, the failure of the team to appear active in the offseason isn't a bad sign, either: most of the moves thus far have been minor or ill-advised. For now, I'm optimistic -- imagine that! -- and am willing to wait it out.


Comments:
The problem is that Bradley is a powder keg. While the Dodgers are putting up the good supportive front, we are only seeing the issues that get reported in the paper. There surely must be others we never heard about.

I still maintain that the past is the future and I think the Dodger staff would gladly be rid of him if they could.

AHB
 

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