Jun 28, 2011, 4:30 PM EST
The initial hearing in the Dodgers’ bankruptcy took place this afternoon. Just adjourned in fact. The biggest takeaway: Major League Baseball has, for the time being at least, agreed to let Frank McCourt run the team with this interim financing deal.
That agreement seems like the only option at the moment, inasmuch as the judge would not rule on Major League Baseball’s alternative financing plan today, probably because he just saw the thing for the first time this morning. There will be a hearing on July 20th, however, in which MLB’s financing plan is scrutinized.
So for now, nothing changes in Dodgers land. Frank controls the team — though MLB still has oversight via the controller it installed a couple of months ago — and all operations are continuing to run up Frank McCourt’s debt.
Dig in folks. This is gonna be protracted.
- Matt Kemp remains “in play” for the Red Sox 21
- Robinson Cano “didn’t want to play” for Joe Girardi 71
- Report: Yankees have agreed to a three-year deal with Carlos Beltran 120
- Mike Napoli agrees to two-year, $32 million deal with Red Sox 36
- Curtis Granderson leaves Yankees for Mets (and $60 million) 68
- Robinson Cano agrees to $240 million deal with Mariners (260)
- Yankees agree to seven-year, $153M contract with free agent outfielder Jacoby Ellsbury (160)
- Report: Mariners willing to offer Robinson Cano a 10-year, $240 million deal (143)
- Report: Yankees have agreed to a three-year deal with Carlos Beltran (120)
- When will the Yankees regret the Jacoby Ellsbury contract? (102)