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Old 06-27-2011, 10:04 AM
 
Location: Piedmont, CA/São Paulo, Brazil
33,370 posts, read 56,961,922 times
Reputation: 16434

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Quote:
Frank McCourt, the team’s owner, blamed Selig for the decision to file for Chapter 11 protection.

“We brought the commissioner a media rights deal that would have solved the cash flow challenge I presented to him a year ago, when his leadership team called us a ‘model franchise,’ ” McCourt said in the statement. “Yet he’s turned his back on the Dodgers, treated us differently and forced us to the point we find ourselves in today.”

Since McCourt took over ownership of the team in 2004, the Dodgers have racked up more than $400 million in debt, and the team has been at the center of a contentious divorce between McCourt and his wife, Jamie, who claims that half of the team belongs to her.

The 17-year television deal with Fox was to have been part of a divorce settlement between the two, but Selig canceled the deal after he said it would have only served to enrich Frank McCourt and would place the team’s future in doubt.

http://www.nytimes.com/2011/06/28/sp...ankruptcy.html
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Old 06-27-2011, 10:29 AM
 
2,093 posts, read 4,044,470 times
Reputation: 1099
Quote:
Originally Posted by 18Montclair View Post
Frank McCourt gets no sympathy from me.

When he purchased the team in 2004, he wanted to use the team as his personal piggy bank to pay off non-baseball expenses. An ugly public divorce, extensive tax loopholes is what got the team into this mess today.
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Old 06-27-2011, 12:35 PM
 
Location: Bella Vista, Ark
74,900 posts, read 87,324,236 times
Reputation: 45465
I bet O'Mally is turning over in his grave and the entire family are sick with what has happened to their beloved Dodgers. What a difference a decade makes.

The Dodgers are the one thing about Ca I thought I would always be loyal to and love: Add to the bankruptcy problems I heard the other night, Mark Cuban might be looking at buying the team: that happens and any love I have for them is gone...

Nita
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Old 06-27-2011, 01:18 PM
 
Location: Outside of Los Angeles
1,252 posts, read 2,402,599 times
Reputation: 810
As if things were not already bad enough in LA with the economy and high taxes, this is another bad thing that's going to be added to the list. It is pretty sad when an entire baseball organization has to do the unthinkable and declare bankruptcy. I've heard of individuals and businesses doing this but a baseball team??

Last edited by AliveandWell; 06-27-2011 at 01:18 PM.. Reason: spelling error
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Old 06-27-2011, 03:32 PM
 
Location: Sacramento
13,820 posts, read 24,275,543 times
Reputation: 6350
Guess the Juan Uribe signing just tanked the club, wait until the escalation years kick in starting next season...
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Old 06-27-2011, 03:48 PM
 
Location: southwestern USA
1,824 posts, read 1,828,796 times
Reputation: 2413
The Dodgers are one of mlbs storied and sacred franchises. To have the chaos and disaster that now confronts them is a sad day for mlb, the city of los Angeles, and to some still faithful diehards in Brooklyn.

This situation has evolved into a comical sitcom, and mlb needs to resolve this soap opera before this mess detoriates even more than it has.

The fiscal chaos that is now the Dodgers is going to make a sale difficult. This franchise is now such a disaster that it is going to scare off a lot of potentail suitors.

I am not a Dodger fan, however I can certainly emphtasize with those people that are. The franchise owes around $ 70 million in contracts to waived players---including about $20m to Ramirez---yowser.
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Old 06-27-2011, 03:50 PM
 
Location: Silicon Valley, CA
11,875 posts, read 7,392,870 times
Reputation: 7277
Being a Giants' fan and therefore an arch foe of the Dodgers, even I am dismayed at the troubles and decline of the LA ballclub no thanks to the McCourts. Hopefully the stage is set for them to come back up again.
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Old 06-27-2011, 04:03 PM
 
Location: SF Bay Area
15,734 posts, read 26,279,588 times
Reputation: 9174
Quote:
Originally Posted by AliveandWell View Post
As if things were not already bad enough in LA with the economy and high taxes, this is another bad thing that's going to be added to the list. It is pretty sad when an entire baseball organization has to do the unthinkable and declare bankruptcy. I've heard of individuals and businesses doing this but a baseball team??
Texas Rangers did it last year.
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Old 06-27-2011, 04:41 PM
 
12,825 posts, read 20,821,255 times
Reputation: 10931
Time to move back to Brooklyn?
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Old 06-27-2011, 04:47 PM
 
11,715 posts, read 36,675,515 times
Reputation: 7522
Maybe Arte Moreno can pass the hat and buy them. At least he's a real baseball fan.
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