Not to belabor, but I did point out several weeks ago that despite his investment success, Magic Johnson has had little experience actually running a business. And it's already starting to show. Based on Saturday's LAT story about how McCourt will benefit from parking lot revenue at Dodger Stadium, it appears as if Johnson either lied during last week's press conference or has been kept in the dark about the the team's financing. As The Weekly's Gene Maddaus explains:
Johnson, the front man for the team's new ownership group, said that ex-owner Frank McCourt was "not involved in any shape or fashion" with the team. He also said McCourt would not get any of the parking revenues. "He doesn't get a dime from the parking," Johnson said. False. In fact, as the Times' Bill Shaikin reported Friday night, the Dodgers will pay $14 million a year to a company half-owned by McCourt for the privilege of parking cars at the stadium. Magic Johnson simply lied about that, as he continues to obfuscate about his partnership with the most hated man in Los Angeles.
Controlling owner Mark Walter said during the press conference that McCourt has an interest in future real estate development, but that he wouldn't have any connection with parking or other day-to-day operations. Two days later, he acknowledged that McCourt will get some portion of the $14 million in parking lot lease payments. I can only guess that in their haste to distance themselves from McCourt, the new owners left a little something out: the truth.
Dodgers photo by Jon SooHoo