Hey there, Los Angeles. We wouldn't bring this deal to just anyone. But you look like a savvy investor. One who understands value, and can see the tremendous potential upside of a smart investment.
How would you like to own a share of the Los Angeles Dodgers?
OK, it sounds crazy. The team is mired in scandal and barely solvent. But doesn't that mean you should be buying?
So says L.A. Councilwoman Janice Hahn, who today floated the idea of turning over the Dodgers to public ownership. Speaking at the L.A. Current Affairs Forum…
… Hahn suggested adopting the model of the Green Bay Packers, in which citizens of L.A. could own a share of the team.
“Forget these owners and their marital problems,” she said.
The Dodgers were taken over yesterday by Major League Baseball, after 18 months of scandalous divorce proceedings. Hahn, whose father Kenneth Hahn was instrumental in bringing the team to L.A., said the takeover “broke my heart.”
As for public ownership, Hahn first floated the idea a year ago. A couple problems come to mind. First — despite fighting a three-front legal war against his ex-wife, his ex-lawyers, and the league — Frank is not selling.
Second, would you want to own this team? You'll be paying off Manny Ramirez's contract for the next decade…