The Deal
Monday, November 23, 
6:19 pm

This date in deal history: Dodgers sell Ebbets Field

  Share     E-Mail    Discussion    Print Story

Oct. 30, 1956: The Brooklyn Dodgers sell their home ballpark, Ebbets Field, to a real estate developer who plans to build a residential project on the site. Under the agreement, the team was allowed to play in the park until 1961, but officials opt to move the franchise to Los Angeles following the 1957 season after the city refuses to build a domed stadium on Atlantic Ave.

Continue reading below

Also on Dealscape

While the Dodgers have flourished in their new home, Brooklyn never recovered from the loss of its beloved Bums. For one thing, the borough was demoted to the level of Staten Island as the only two New York City jurisdictions without a major league sports franchise.

The shame is so deep that Brooklyn boosters are reduced to stealing an NBA team from New Jersey and installing it in as-yet unbuilt arena planned for the site the Dodgers once coveted. Such theft is nothing new for Brooklyn. For years, the borough has been stealing bits and pieces of trendy neighborhoods from Manhattan and assembling them into the massive amalgam of pretension now known as Park Slope. — Jeffrey Kanige





Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Morgan Stanley's Rosenthal on the nitty gritty details of the Smith Barney integration.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Loan-to-buy

Paulson's proposal to purchase an equity stake in Yellow Pages publisher Idearc is the second time in recent months an investor group has used its prepetition debt position to execute a bargain price 'exit LBO.'


Industry Insight

Managing your shareholder base

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.