The Kennedys Wanted to Buy the Dodgers and Put JFK in Charge
In the 12 years since Frank McCourt sold the Los Angeles Dodgers for a then-record $2.15 billion to Guggenheim Partners, the franchise has won two National League pennants and one World Series title, and it is currently one win away from returning to the World Series. But the Dodgers could have been part of a historical twist almost a decade before they left New York.
It was the summer of 1950, and Walter O’Malley, co-owner of the Brooklyn Dodgers, was flying home from Connecticut with Branch Rickey, who ran the team’s front office and was a part-owner. They had attended the funeral of Pfizer chairman John L. Smith. Together, O’Malley, Rickey, and Smith owned 75% of the Dodgers.
Before heading to the service, Rickey was at the Biltmore Hotel in New York City, getting breakfast with Joseph Kennedy, the former ambassador whose family would soon become synonymous with American politics. While the plane’s engines and propellers whirred over their conversation, Rickey told O’Malley that Kennedy had expressed interest in purchasing Rickey’s and Smith’s stock in the team for $1.3 million (roughly $17 million in today’s dollars). Additionally, Kennedy hoped to retain Rickey as general manager and insert his son John as team president.
Joseph P. Kennedy—who played baseball at Havard—was personally invested in the sport, more than any other Kennedy. His love of the game likely fueled at least part of his acquisition wish.
But David Nasaw, author of The Patriarch: The Remarkable Life and Turbulent Times of Joseph P. Kennedy, and an expert on JPK’s life, says Kennedy also saw a new way to grow his wealth, following his time in government, during which he helped change rules and regulations in a way that prevented him from continuing to make money the way he always had, including on stocks.
