Now that McCourt has the Dodgers he must work to restore fans' trust.

AT around the same time the storied Chicago Cub and Boston Red Sox franchises flirted briefly with on-field greatness, another legendary baseball brand, the Los Angeles Dodgers, began undergoing an ownership change that many hope will enable the team to return to greatness.

News Corp. has agreed to sell the Dodgers and related assets to Boston real estate developer Frank McCourt for $430 million. Given Major League Baseball's familiarity with McCourt, who previously expressed an interest in the Anaheim Angels and Red Sox, approval of the transaction appears likely.

On a stand-alone basis, the Dodgers may have lost tens of millions of dollars annually, but News Corp.'s ownership was an unqualified financial success.

When the media company successfully established an extraordinarily powerful and profitable regional cable sports beachhead, Fox Sports West, the strategic importance associated with owning the team no longer existed. Realizing it had accomplished its programming mission, News Corp., which bought the team from the O'Malley family 1998, put the franchise up for sale.

Now, McCourt will have to succeed at several important initiatives.

First, he must be viewed as a fan friendly owner--that he has the legendary franchise's best interests at heart. Taking a page from Arturo Moreno's playbook would be wise. Moreno, who purchased the Angels from Walt Disney Co. in May, has frequently been seen glad-handing fans at Edison Field as he walks the stadium before and during ballgames.

Next, McCourt must find a way to monetize an antiquated stadium without sacrificing the venue's inherent charm. At 41 years of age, Dodger Stadium is growing closer to obsolescence since it lacks the revenue generating amenities sought by ownership. Does he further renovate this aging icon, and risk the possibility of throwing good money after bad? Does he raze it knowing that, in the process, he will alienate nanny Dodger purists? Perhaps he attempts to establish the business and political coalition necessary to build a new stadium downtown? Whichever the course, this may very well be McCourt's biggest quandary.

By all means, though, McCourt must walk before he runs. Many have tried to master the region's sports landscape only to find that doing so proves more challenging than solving a Rubik's cube--with your eyes shut. Should he fail to account for Southern California and its loyal Dodger fan base, the franchise may leave many wondering, "Where have you gone Peter O'Malley?"

David M. Carter, Principal of the Sports Business Group, is co-author of "On the Bull: What You Can Learn About Business From America's Sports Leaders."