Dodgers File For Bankruptcy: Door Is Opened For MLB to Take Control
Somewhat anticipated, yet still shocking, the Dodgers have officially filed for bankruptcy. This move affords Frank McCourt and the Dodgers some flexibility to remain in business but it also opens the door for Selig and MLB to step in and take control or force a sale. McCourt has blamed the Dodgers' finacial woes on Selig for not allowing him to negotiate a lucrative $3 billion television deal with Fox. MLB has remained quiet but it seems that an ulterior motive all along has been to remove the beleaguered owner and his maligned reputation of his authority. So strangely, both parties have a vested interest in going to court.
I think that the thought here is that once in bankruptcy court, it's anyone guess who emerges as the winner. The MLB has deeper pockets and a much louder voice but if McCourt can prove coercion on the part of MLB in not letting him negotiate a deal, then maybe the court has some sympathy on the little man.
In short, it's on.
Our friends at LA Dodger Talk (check the blog roll for their link) should give you a good idea for what the people in LA are saying here. They have also compiled a list of who the Dodgers owe money to, a list which includes Manny Ramirez (owed $21 million), Andruw Jones (owed $11 million) and Marquis Grissom (owed $2.7 million). I guess that's what bad contracts can do. Do us a favor and check out their site.
I think that the thought here is that once in bankruptcy court, it's anyone guess who emerges as the winner. The MLB has deeper pockets and a much louder voice but if McCourt can prove coercion on the part of MLB in not letting him negotiate a deal, then maybe the court has some sympathy on the little man.
In short, it's on.
Our friends at LA Dodger Talk (check the blog roll for their link) should give you a good idea for what the people in LA are saying here. They have also compiled a list of who the Dodgers owe money to, a list which includes Manny Ramirez (owed $21 million), Andruw Jones (owed $11 million) and Marquis Grissom (owed $2.7 million). I guess that's what bad contracts can do. Do us a favor and check out their site.
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