Dodger fans were mildly excited last week when the Los Angeles Times reported owner Frank McCourt received a $1.2 billion offer for his baseball organization from L.A. Marathon founder Bill Burke by way of China.
Gene Maddaus of the LA Weekly did some investigating and discovered that Burke, while rich, doesn’t exactly have baseball ownership money:
“Burke is chair of the South Coast Air Quality Management District, and as such is required to file his own Form 700 (posted below). According to that document, Burke has, at most, $4.3 million.
OK, so he’s not poor. It seems he and his wife, Supervisor Yvonne Burke, still have a six-figure income, and have bought a nice place in Cabo San Lucas. Good for them. But to put it in perspective: If they sold everything they owned, they wouldn’t be able to cover James Loney’s salary for one year.”
With a majority of the money coming from “certain state-owned investment institutions of the People’s Republic of China,” this offer appears to be more of a dream than reality.
Below is Bill Burke’s 2011 Financial Disclosure:
Bill Burke 2011 Financial Disclosure