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Looks like a pretty good scoop by baseball writer Ross Newhan on the front page of the L.A. Times:
Los Angeles developer and philanthropist Eli Broad has offered to buy the Dodgers for $430 million, mostly in cash, if Boston developer Frank McCourt's highly leveraged bid falls through, according to a letter from Broad to Fox Group obtained Friday by The Times....a high-ranking baseball official said the industry is well aware of Broad and his resume, and "it stands to reason he could move through the approval process very quickly if it came to that."
Broad made his $3.8-billion fortune in real-estate development, as a founder of the home-builder Kaufman & Broad, and in financial services as the chief of SunAmerica. He co-founded the Museum of Contemporary Art and led the fundraising effort to build Walt Disney Concert Hall, among his many civic and charitable endeavors.
The plot thickens.
Broad seems like the type that might keep the stadium in place. He's very civic minded. Then again, he's made billions in building, so maybe he's a threat the stadium. I can't tell.
Posted by: a at January 19, 2004 05:39 PM
of LA Observed
That is a good scoop. But if it happens, and Broad spends on the Dodgers the way he spent the money of others on the Disney Hall, we'll have a Kevin Brown at every position, and sixteen in the duguout.
But there's an upside. The Stadium could use a new organ, and the Disney Hall could use more seats. Maybe they could take that french fry organ out of the Disney Hall and put it between the flagpoles in center, where it would even make more sense visually.
Posted by: joseph at January 18, 2004 08:00 PM