Boston Globe Piles On Frank McCourt

Back in 2004, Frank McCourt traded in 24 acres of seaport parking lots in Boston to help buy the LA Dodgers. We all know how that went. But now, the Boston Globe reports, not only has McCourt’s investment in the Dodgers collapsed, but the land he swapped to buy the team is poised for $3 billion in development.

McCourt – stalled by economic downturns and poor relations with City Hall – swapped one of the city’s greatest development opportunities for a fleeting chance at glory in California, where he is accused of driving one of baseball’s most venerable franchises into a financial abyss.

“Frank could have cashed out on the opportunity he created on the waterfront and just rode off into the sunset,’’ said Michael Vaughan, a former official at the Boston Redevelopment Authority. “He went all in and bought the Dodgers. I think he was always well intentioned, it just got away from him.’’

The Globe calls the swap a “bad trade.” No kidding.