McCourt was an early bidder for the Red Sox before they were sold to the group headed by John Henry and Tom Werner in 2002. He wanted to move the Sox from Fenway to a park to be constructed on land he owned in South Boston. But McCourt dropped out of the bidding when it topped $600 million.
In January 2004, McCourt acquired another trophy franchise, the Los Angeles Dodgers. Unlike the Sox, the Dodgers don't have a cable network to generate cash for their owners -- but they do have Dodger Stadium, the Dodgertown spring training complex in Vero Beach, Florida, and a baseball academy in the Dominican Republic. The club and its properties sold for $430 million.
The story goes on to mention how highly leveraged McCourt was to even buy the Dodgers. He borrowed every dollar he used to pay for the team and an extra $45 million for working capital.
And that is the dirty secret everyone forgets as MLB executes it's takeover of the Dodgers...they allowed a man to buy this team with 100% borrowed money. Which is insane. And then when the divorce came, one of the ugliest ever...is it surprising that McCourt couldn't afford to keep the team running?
It's a shame and a travesty all the way around for such a proud franchise. But I know I am saying "There but for the grace of God..." because it could easily have been the Red Sox in this position today.