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Los Angeles Dodgers: Bankrupt


Mac the Knife

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Dodgers Bankruptcy Filing

Looks like McCourt's going to go away, but he figures he'll do better with a judge than with Bud Selig.

If I'm Selig, I immediately revoke the Dodgers franchise, award a new LA franchise and have them assume the Dodgers identity and record, and somehow arrange for them to play in Anaheim when the Angels are on the road. McCourt has run this team into the ground.

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Based on my reading of baseball's (potentially outdated) bylaws, he just gave Selig the power to seize his franchise.

I doubt Bud will do that, though - as much as I wish he was less temperate at times, he's a consensus-builder.

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Based on my reading of baseball's (potentially outdated) bylaws, he just gave Selig the power to seize his franchise.

I doubt Bud will do that, though - as much as I wish he was less temperate at times, he's a consensus-builder.

Yeah, he's empowered to do it, but history (Cubs, Rangers) has showed that he won't, sadly.

Thing of it is, even if he did take the franchise, the only way to really punish McCourt would be to move it - ostensibly to Anaheim - so the Dodgers wouldn't use Dodger Stadium. Otherwise, McCourt would own everything but the team itself, which kinda defeats the purpose.

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The Rangers bankruptcy was done with the full knowledge and approval of MLB, as a means of streamlining the sale. Pretty sure the Cubs' filing was as well. This is, I believe, the first time in decades (since the Seattle Pilots?) that a team has been put into bankruptcy without the advance permission of the Commissioner.

Selig has to seize more than just the team - he needs to (and I'm pretty sure will) get back all the assets McCourt bought from Fox.

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Selig has to seize more than just the team - he needs to (and I'm pretty sure will) get back all the assets McCourt bought from Fox.

Actually, he's not empowered to seize anything but the franchise. Also, MLB isn't listed as a creditor of the filing entities, so any claim they may have on anything but the franchise would be suspect. Optimally MLB would revoke the franchise and the court would force the McCourt's to sell the associated assets to MLB so they could run the team "Expos-style" until a new owner could be found.

Odds of that happening? Unlikely. This is likely to get very ugly, very quickly. Get some popcorn and a good seat up front!

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Selig has to seize more than just the team - he needs to (and I'm pretty sure will) get back all the assets McCourt bought from Fox.

Actually, he's not empowered to seize anything but the franchise. Also, MLB isn't listed as a creditor of the filing entities, so any claim they may have on anything but the franchise would be suspect. Optimally MLB would revoke the franchise and the court would force the McCourt's to sell the associated assets to MLB so they could run the team "Expos-style" until a new owner could be found.

Odds of that happening? Unlikely. This is likely to get very ugly, very quickly. Get some popcorn and a good seat up front!

If MLB makes they case that they will be most likely to secure payment to the creditors (assuming the Dodgers' debt), then it seems to me a bankruptcy court would be very likely to listen.

McCourt wants to get away with paying his debts at pennies on the dollar. If MLB offers dollars on the dollar, why wouldn't a court take that offer seriously?

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Based on my reading of baseball's (potentially outdated) bylaws, he just gave Selig the power to seize his franchise.

I doubt Bud will do that, though - as much as I wish he was less temperate at times, he's a consensus-builder.

He's a spineless stooge of the owners which makes him essentially useless since he's unable to make any important decisions... His dealing with the Oakland A's has made that readily apparent.

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It would be pretty surreal to have two teams at Angel Stadium while Dodger Stadium is vacant.

I haven't been up on this - why would they play at Angel Stadium?

Because McCourt owns Dodger Stadium as well. If MLB seizes the team they don't get the stadium with it... And I don't see the guy they just took the team from allowing them to play at his stadium.

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Not sure if this has been stated before, but they still owe Manny over 20 million. And they owe the White Sox 3.5 million. Here's the link

Manny may never see his money now. He's an unsecured creditor. He'll be one of the last people to get paid if ever. Sucks to be him (then again karma's a bitch)...

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Not sure if this has been stated before, but they still owe Manny over 20 million. And they owe the White Sox 3.5 million. Here's the link

Manny may never see his money now. He's an unsecured creditor. He'll be one of the last people to get paid if ever. Sucks to be him (then again karma's a bitch)...

Yeah true, I also heard that they owe Vin Scully like 250 grand. How did they forget about him?

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Selig has to seize more than just the team - he needs to (and I'm pretty sure will) get back all the assets McCourt bought from Fox.

Actually, he's not empowered to seize anything but the franchise. Also, MLB isn't listed as a creditor of the filing entities, so any claim they may have on anything but the franchise would be suspect. Optimally MLB would revoke the franchise and the court would force the McCourt's to sell the associated assets to MLB so they could run the team "Expos-style" until a new owner could be found.

Odds of that happening? Unlikely. This is likely to get very ugly, very quickly. Get some popcorn and a good seat up front!

If MLB makes they case that they will be most likely to secure payment to the creditors (assuming the Dodgers' debt), then it seems to me a bankruptcy court would be very likely to listen.

McCourt wants to get away with paying his debts at pennies on the dollar. If MLB offers dollars on the dollar, why wouldn't a court take that offer seriously?

You're confusing Chapter 11 bankruptcy with other chapters. What they filed for is a restructuring of their existing debt, not a forgiveness of it. They'll still be on the hook for a large majority (if not all) of the debt when they're done.

But what's liable to happen: one or more would-be owners are going to step forward offering to take over the Dodger assets and assume its debts in exchange for MLB rubber-stamping its ownership... at which point the court will determine which is more feasible to get the creditors their maximum return: approving a debt restructuring plan, or selling the assets.

My guess will be selling off the assets, at which point the judge could do one of two things:

(1) Package the assets together and sell them to the highest bidder, which is most likely; or

(2) Sell off the assets piece by piece. This would maximize dollars, but cost anyone trying to buy the whole lot a fortune.

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Gotta love the creditors list. Holy :censored: They owe Vin Scully money? Shame on them... AND they owe Marquis Grissom? :lol:

I wouldn't read too much into it. Teams defer salaries all the team. They will also get paid no matter what.

This situation is only going to get uglier as it goes forward though and I think it will ultimately end when Frank McCourt and his wife go to prison for tax evasion. Until that happens he is just going to keep filing lawsuit after lawsuit for control of the team, although its going to be very hard to prove that Bud Selig somehow has it in for him as he is saying when its been shown in court documents that he and his wife took out hundreds of millions of dollars from the team for personal use.

Thing is though he has nothing to lose. If he does nothing he'll wind up declaing personal bankruptcy.

Sad part is had they not gotten divorced they would have probably gotten away with it, but the divorce messed everything up.

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Just find Big Fat Paulie and have McCourt and his wife rubbed out :P

All things considered probably not a bad idea. I honestly think the world we be a better place without them.

People like that to me are the scum of the earth. What do they do? They sit back and make their money by owning things, but not actually producing anything, nor do they put their money to facilitating production that would not otherwise exist. And to top it off they leetch off of anything that actually does produce something in order to maintain their lifestyle.

Then they got the balls to deny they did anything wrong when they are caught redhanded. You kind of have to stand in awe of the things the McCourts have done on a day to day basis over the past few years and then to still claim that its somebody's else's fault the Dodgers are in the kind of shape they are in. Most of us when confronted with evidence that we did something wrong would probably just admit it right there and hope for mercy, but not Frank McCourt. He tries spinning the tables. Not only did I not do anything wrong, but how dare you even accuse me of doing something wrong.

You konw who behaves like that? Psychopaths.

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Just find Big Fat Paulie and have McCourt and his wife rubbed out :P

All things considered probably not a bad idea. I honestly think the world we be a better place without them.

Yeah, killing them is a great idea. That would solve everything. :rolleyes:

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