Earlier tonight, the LA Dodgers got booted from the playoff hunt by their rivals, the San Francisco Giants, losing 4-3. They were trying to chase down the Cardinals to force a tiebreaker but were unable to do so. Despite trading for Shane Victorino, Hanley Ramirez, and over $250 million worth in players from the Red Sox, they are left on the outside looking in.
After this disappointing season, the parent company of the Dodgers, Guggenheim
Partners, is now exploring the possibility of buying AEG which is a sports and entertainment company. AEG owns the LA Kings, Part of the Lakers, the LA Galaxy, the Staples Center, and the Home Depot Center. They are also the main guys in charge of the Farmer Field project hoping to lure an NFL team to LA for their ultimate destruction... I mean financial success. Early estimates indicate that AEG could sell for more than $7 billion.
Sure, $2 billion on the Dodgers, over a quarter billion for new players, and now 3 times all of that for more teams in LA. Sounds like more money well wasted. I'm sure this is a fine investment for this large financial group but it seems like a lot to take on in a short period of time. Maybe you should get the Dodgers in the playoffs first before expanding.
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