Dodgers: Frank McCourt Getting Involved in Crypto; What Could Go Wrong?
Editor's Note: This article was initially published with the title "Frank McCourt Starts a Crypto Currency; What Could go Wrong?" which was inaccurate. McCourt is not starting a crypto currency, but rather, is one of the primary investors for the project. We apologize for publishing an article that included misinformation and that misrepresented the situation.
Frank McCourt has been known to have a diversified portfolio. As the former owner of the Dodgers, McCourt partitioned Dodgers franchise into a slew of different business entities. The most famous example of course is McCourt retaining co-ownership of half of the parking lots surrounding Dodger Stadium.
After being forced by Major League Baseball to sell the Dodgers for a cool $2.15B to the Guggenheim Group in 2012, McCourt has stayed busy. He now owns the French football club Olympique de Marseille, a member of the Ligue 1, the top level of professional football in the country. McCourt is also getting involved in crypto.
According to CoinDesk.com, McCourt, through his investment in the Project Liberty initiative, is one of the key investors in a new decentralized social networking protocol (DSNP) in partnership with Polkadot.
McCourt, and Pokladot's founder Gavin Wood, the co-founder of Ethereum, who's also prominent investor in the project, released a statement following the news:
“We are excited to work with Gavin and his colleagues to bring our shared vision of a healthier web into reality. Not only are they pioneering innovators, but our values are aligned for how the internet should be restructured in a way that empowers users, benefits society, and strengthens democracy." - Frank McCourt
McCourt's level of business acumen is debatable, to put it charitably. He did run the Dodgers franchise into the ground, but he also walked away with a ten-figure payout for a job well done. More recently, fans of Marseille rioted in response to how the slick Bostonian was running the club.
Honestly, this writer eagerly awaits updates of how the reviled former Dodgers owner's next business venture unfolds. There's sure to be some drama, because with Frank, there always is.
