Official: OM bought by Frank McCourt

http://www.lequipe.fr/Football/Actualites/Frank-mccourt-je-veux-une-equipe-qui-vise-le-titre-chaque-saison/722255

so why is this bad, don't know anything about him besides seeing he owned/owns american sports team

He owned the Los Angeles Dodgers.  He was forced to sell it as the league (MLB) forced him into bankruptcy due to his family using the club to finance his lavish lifestyle...  while running up debts.

He came out ok because the bankruptcy auction fetched 2 billion USD for the club... but that was pure luck.  

I am a Dodger fan.  AWFUL and I mean, HORRIBLE owner.

In fact, ESPN ranked him as the 2nd worst baseball owner of all time:  http://www.espn.com/blog/sweetspot/post/_/id/12920/the-top-10-worst-owners-in-mlb-history

The only guy worse than him was the owner of the Red Sox in the 20s that had to sell Babe Ruth and mortgage the stadium to keep himself a life.

McCourt is an utter and complete fraud. He's a con artist.

To put it in perspective....  he ran out money to pay the players and needed to borrow money from the league to keep things running  That's why MLB forced him into bankruptcy and the team was sold...

Sounds very promising... Does the French league administration or what you have there look at the profitability of the clubs? If so he shouldn't be able to take out too much money and run up unsustainable debts. (At least in the Bundesliga this would mean that he could get the licence of the club withdrawn.)

Brb, going to contact some sources about this guy

rwo power wrote:Sounds very promising... Does the French league administration or what you have there look at the profitability of the clubs? If so he shouldn't be able to take out too much money and run up unsustainable debts. (At least in the Bundesliga this would mean that he could get the licence of the club withdrawn.)

I'm not too worried about that.  In Ligue 1, you have to submit your season's budget in advance and either have a restricted cash account or a bank letter of credit guarantee the budget.  That's why you saw small teams get relegated prior to the season from both Ligue 1 and Ligue 2 in recent years...  they couldn't come up with the financial guarantees.

That's not what I'm worried about.

I'm worried he's going to submit a very modest club budget and then take the rest of the money out.  In fact, I expect it.

I see. That sounds like a real problem then.

Other than that it sounds similar to the Bundesliga with the budget etc in France.

My sources confirmed OM is screwed

how much is he buying it for

saw this tweet from some german lad that works for Sky

'It's becoming cheaper to buy clubs than players. According to reports in France, Marseille is being sold for £34m'

seems ridiculously low? bs?

Firenze wrote:how much is he buying it for

saw this tweet from some german lad that works for Sky

'It's becoming cheaper to buy clubs than players. According to reports in France, Marseille is being sold for £34m'

seems ridiculously low? bs?

Don't know what's OM's situation, but sometimes owners just want to get rid of clubs that are running at a loss and/or are already indebted.

That's about right. 40 mil euros is the valuation given how it's been run....

sportsczy wrote:That's about right. 40 mil euros is the valuation given how it's been run....

Michy went to Chelsea for what ? 30 millions ?

€40m is reasonable depending on the amount of debt the club owes.

The previous owner sold a lot of players on the team so she could "cash in" and compensate for the derisory price of the club.

OM

What a shit club I'm attached to.

Anyhow, McCourt says he's going to invest 50-100 mil a season for first 3 years so the budget would be 200-250 mil total given the organic revenue of 150 mil currently.

That won't compete with PSG at 500 mil.  But it would the 2nd highest in Ligue 1.

Of course, he's likely lying and the budget will be 100 mil so he can put 50 mil in his own pocket like he did with the Dodgers. McCourt has some angle... he's a weasel. Always has some kind of scam he's working on.

sportsczy wrote:What a shit club I'm attached to. You are not alone in this.

Anyhow, McCourt says he's going to invest 50-100 mil a season for first 3 years so the budget would be 200-250 mil total given the organic revenue of 150 mil currently.

That won't compete with PSG at 500 mil.  But it would the 2nd highest in Ligue 1.

Of course, he's likely lying and the budget will be 100 mil so he can put 50 mil in his own pocket like he did with the Dodgers. McCourt has some angle... he's a weasel. Always has some kind of scam he's working on.

Doesn't matter how much money you have if you buy shit for 10x more than it's worth and the sell for it 10x less than its worth once it's proven to be shit.

Or just let your better players walk for free.

that's been our modus operandi under the bitch who just sold the club.

With Mc Court, i expect Russian fortune tellers, diverted funds, inept management...  and lies.

Mole help me here ffs

The most frustrating thing in the world is to follow a team with an avid and devoted fanbase... that has plenty of money...  with a storied past... yet is run into the ground regardless.

It's a *bleep* tragedy.

I'm so sorry sports