The Not So Truth
Last week at the press conference to introduce the New Dodgers owners Magic Johnson said the previous owner (Really not trying to use his name any more) was not involved in any shape or fashion. Well turns out that wasn’t exactly the truth. Turns out like it’s the same agreement that was being discussed before the sale of the team happened. The new owner would pay 14 Million to the previous owner for the parking lots annually. So he gets this annually up front and for the next 99 years. New ownership gets all the revenue from cars parking in the lots, but they have already made their payment to lease the lots. As it stands right now GBM will end up losing money yearly. Gene Maddaus from the LA Weekly sent me some figures, in 2006, the last year that parking cost $10 revenue earned was $9.2 million. So right now they stand to lose $5.2 million. GBM will have to decide either they eat that loss or eventually charge it to the fan.
So the question is what can be done? The answer is simple – Not much. The parking lots can be boycotted, but that is not going to hurt the previous owner, he gets his no matter what. I know there will be some that will still go to any measure to boycott any thing associated with previous ownership, and that is cool. Magic did also make another good point at the press conference. He said the old ownership is no longer here that is reason enough to be applauding. The truth of the matter is we have a new era, and we are moving forward and we will give them the support they need to move forward. It was not a smart move to lie to the fans on your first day, so don’t make that mistake again. As a big brother we will continue to watch out for our team and look over them. We need to get past this and we will and look forward to some great things happening this years and years to come.
Dodgers’ owners to pay $14 million a year to rent parking lots from McCourt entity LA Times
Magic Johnson Lied to Dodger Fans About Frank McCourt’s Role In Parking Lots LA Weekly