All smiles and promises at Dodger news conference

Really more of a coming out party for the new owners, complete with Vin Scully as MC and a cast of former Dodger greats. About the only significant news was that the new management would reduce general parking to $10 from $15 (the raising of parking fees by McCourt generated lots of backlash). In addition, Mark Walter, chairman of Guggenheim Baseball Management, the investment group that is taking over the franchise, confirmed earlier reports that former owner Frank McCourt will receive no revenue from any team operations, including parking. "The rumors - we're quashing them now," said Magic Johnson, who has a minority stake in the team and is expected to be a front man for the franchise. "One hundred percent of all operations... is controlled by us," said Walter. McCourt, the partners said, does have an economic interest in the land surrounding Dodger Stadium (they didn't specify what it was), but only if the property is developed by the Guggenheim people. Walter brushed back questions about the eye-popping $2.15-billion price tag, saying that "the value will take care of itself." Also on hand was longtime baseball executive Stan Kasten, who will really be managing the franchise and, like the others on hand, kept talking about being committed to "a culture of winning."

Best line came from an unlikely source: Mayor Villaraigosa. Looking at Johnson, the mayor said, "I have just one piece of advice: Win. A lot."

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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