Dodgers File for Bankruptcy Protection
Historic Franchise Hits Financial Low Point
Yesterday it hit national news that the Los Angeles Dodgers were filing for bankruptcy protection in a Delaware court. The franchise’s financial woes have been highly publicized and the team’s owner Frank McCourt has made a last ditch effort to keep control of the franchise and find a way to make payroll. The legal action would allow McCourt to obtain $150 million in financing if he were successful. McCourt will be arguing that the financial woes of the franchisee are the result of baseball commissioner, Bud Selig’s refusal of a T.V. deal that would have allowed the Dodgers to stay financially afloat. If Selig is successful the MLB would be taking control of the team
McCourt in Court
The Dodgers owner Frank McCourt is currently fighting four different legal battles. The original financial downturn of the Dodgers began with the divorce of McCourt and his ex-wife who continue to battle in court. McCourt is also in a legal dispute with his former law firm, and with the family of Bryan Stow, the Giants fan that was critically beaten in the parking lot of Dodger Stadium on opening day.