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MLB Memo - Sale of Dodgers - Fox to McCourt PDF Print E-mail
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Written by MLB Memo   
Thursday, 22 January 2004 12:00

MLB Memo outlining the transfer of sale of the Los Angeles Dodgers from Fox Baseball Holdings, Inc. to Frank H. McCourt, Jr.


Jan. 23, 2004

Format - PDF (non-searchable - scanned image)


1. The Proposed Transaction.

 

As more fully described below, Fox Baseball Holdings, Inc. and other Sellers (defined below) propose to sell substantially all of the assets constituting the Los Angels Dodgers and assign substantially all of the related liabilities to two newly formed entities controlled by Frank H. McCourt, Jr. The purchase price for the assets related to the Club (as defined below) would be $330 million, subject to closing working capital adjustment, and the purchase price for the real property assets related to the Club would be $100 million, for the total purchase price of $430 million. As described below, the entity purchasing the Club assets would receive from the Sellers payments totaling $50 million over the course of the first two years following the closing of the transaction. The financing arrangements related to the proposed transaction, including a note for $40 million from one of the McCourt entities to the Sellers that automatically converts to an indirect equity interest in the Club if not paid in three years, are described in paragraph 4 below.
 
 
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