The planned Dodger Stadium renovation
Trying to understand where the McCourts get their money, and how they intended to pay for those Dodger Stadium improvements, was always a mystery. Now with the couple's divorce spilling the beans of their financials, the FanHouse uncovers an entity called John McCourt Company, an LLC that was apparently only responsible for the "Next 50" phase, aka that planned Johnson Fain and HKS-designed improvement project to Dodger Stadium. All about the John McCourt Company: "Beginning in 2008 and continuing through at least the first four months of 2010, the Dodgers paid $300,000 per month to an entity called the John McCourt Company for consulting services related to development of the real estate surrounding Dodger Stadium, according to court documents and statements made in court by both sides in April."
More on the John McCourt Company:
"In deposition testimony and comments from both sides in court, it is not clear what, if anything, the John McCourt Company did to earn its substantial fees. The entity is described on the team's website as the "real estate development and management affiliate of the McCourt Group," which is the holding company that owns the Dodgers. The entity's lone identifiable employee is Geoff Wharton, the Dodgers' chief operating officer, who is listed in his media guide bio as the president of the John McCourt Company."
All told, this entity has been paid $4 million in "consulting services," according to Fanhouse. Perhaps the peanut gallery can break down the expenses of planning such a big renovation. Meanwhile, more news: The Dodgers paid Frank and Jamie McCourt's adult sons $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 Fanhouse. Please adopt us, and then hire us, Frank.
· More Questions Emerge in McCourts' Tussle Over Dodgers [Fanhouse]
· On the money trail [Dodger Trail]