Tom Golisano Prepares Bid for Los Angeles Dodgers

In news that will shock most Sabres fans, the Wall Street Journal is reporting that former Sabres owner Tom Golisano is preparing a bid for the Los Angeles Dodgers. 

Golisano, who sold the Sabres less than a year ago to Terry Pegula, said “baseball has been my favorite sport all my life. I would welcome the opportunity to own such a fine franchise.” Of course, Golisano profited handsomely after purchasing the Sabres from bankruptcy and selling them to Pegula. Given that, it’s not surprising that he’s interested in investing in another sports franchise, especially one that is tied up in bankruptcy proceedings. But it is surprising that he is making a bid on the famed Dodgers franchise – a purchase that will likely cost about $1 billion. Forbes estimates Golisano’s net worth is approximately $1.4 billion. 
Golisano will face some headwinds in his bid for the Dodgers as there is a growing campaign to ensure the next owner is an Angeleno. Golisano has never been to Dodgers Stadium and is a self-professed lifelong Yankees fan. Responding to criticism that he was too frugal as the owner of the Sabres, Golisano responded “there is no direct relationship between how much you spend and how much you win.”

This news will surprise Buffalo fans and media. Just a few days ago, Buffalo News reporter Mike Harrington laughed at the notion of Golisano bidding for the Dodgers:

harringtontweet.pngGiven the high profile nature of the Dodgers franchise and Golisano’s outsider status, he’s a long shot to land the team. But he’s getting his bid in first which may matter. If he succeeds in buying the Dodgers, we can go ahead and cross him name off the list of potential bidders for the Bills.

About the author  ⁄ NeilGarvey

7 comments
suburban_hillbilly
suburban_hillbilly

FYI - I made the above comment referring to some random comments that appear to have been deleted.

townline
townline

I'm not the biggest Golisano fan, and I certainly think that he left the sabres with an unnecessary bitter attitude...

But people really forget how much he did for the franchise. Brought it out of bankruptcy. Coming out of the lockout - we had the cheapest ticket prices that have been seen since the early 90s. Introduced variable pricing which kept tickets for most games affordable, while making sure to maximize the revenue from games like toronto. Made huge changes to the game experience: HD Scoreboard, the huge video projections on the ice (I know there is more). Under him and Quinn - the Sabres came up with the idea for the Winter Classic and hosted the inaugural game. Started the Blue & Gold club. Family oriented amenities like the Sabretooth house.

There's even more than that. But its all on top of bringing Buffalo two of the most exciting seasons of hockey that I've ever been a part of.

People say he was cheap, but he spent a ton of money on the product and his instruction to Darcy Regier was to not lose money. Not to make money, but to make sure that the organization wasn't losing. And for the most part, their salaries were always fairly close to the cap. Personally - I had no problem with this. I want the Sabres to be financially successful in Buffalo - I don't want to ever have the discussion of them leaving again. How can you blame the owner for wanting financial stability? I think we're a little spoiled now with Pegula - but not everyone, has $4billion in LIQUID assets. Golisano was worth billions, but its all in the company that he owns, he doesn't have a $2billion bank account just ready to go.

So yeah - the guy made out well in the end selling the franchise. Good for him, he brought them out of bankruptcy, invested a great deal into the organization and was the reason that the franchise's value had risen so significantly.

irishkwh
irishkwh

He wants to do the same thing he did with the Sabres. Buy, Hold for a few years and sell and make 80 million.

He's an A**hole!

LI2Northpark
LI2Northpark

Why would Bills fans be shocked? Golisano has said in the past that he may be interested in owning another team. As for Bills fans and Dodgers fans being equal, they are not even close. Dodgers fans show up, talk on their cells for five innings then leave. Look at one of their crowds late in a tight game and you will see at least a third of the crowd gone. It's always been that way.

Chris
Chris

It would be a step into the big leagues. He can't afford it alone. You would have to be a multi billionaire to own the Dodgers. Lots o liquid cash...

MLB wouldn't allow someone to run the Dodgers on the cheap. The team is too historic and they need that market back in the playoffs.

longgone
longgone

I doubt Tom would go all in on his own. I could see him putting up $500M for the team and getting a group of investors who would pony up the difference.

Why would someone back him you ask? Well he has a proven record of buying low, spending little and making much. Would MLB care about this? No. All they want is an owner who is not a train wreck. Would the fans in LA care? Yes but that does not matter. Dodger fans are like Bills fans...they show up no matter how bad the product is.

If a group does not come from LA...I could see Tom buying the Dodgers...cutting the payroll to the bottom 25% of MLB...ride the storm out 4-8 years and selling for another handsome profit.

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