Recently Jon Weinbach of AOL FANHOUSE took a well-deserved whack at the pinata that is the McCourt’s ownership of the Dodgers.
(Speaking of money for nothing …)
Weinbach, bless his heart, further unraveled the McCourt’s dubious financial dealings with the Dodgers by exposing money-for-nothing schemes involving the McCourt’s two sons and various shell companies designed to funnel money to a “slush fund” set up for Frank’s personal use.
Over the past 18 months, the Los Angeles Dodgers paid nearly $4 million in “consulting services” to an entity that has done virtually nothing for the club, even as the team has made a concerted effort to raise ticket prices, trim payroll and acquire players on the cheap.
Moreover, the club paid two of Frank and Jamie McCourt’s adult sons large salaries — $400,000 and $200,000 per year, respectively — for services that are undefined and could not be described by either Frank or Jamie McCourt, according to court documents filed in the couple’s divorce case.
The official club duties of Drew and Travis McCourt couldn’t be described by their parents because, from what I’ve been told by anonymous Dodger staffers, they have no formal duties with the franchise. As noted by Weinbach, “neither of the McCourts’ sons is listed on the team’s staff directory.”
I have a sneaking feeling that Drew attending business school at Stanford and Travis working at Goldman Sachs in New York might have something to do with that.
Weinbach also notes Frank’s creative way of getting around his supposedly-capped $5 million per year club salary. Read more…