Jun 28, 2011, 8:25 AM EDT
Today is only Day Two in what will likely be a lengthy set of legal proceedings for the Dodgers, but it’s a pretty big day. Why? It’s the day of the initial hearing in the bankruptcy case and it’s the day on which the judge could very well decide if Frank McCourt is going to be able to continue to run the Dodgers while they’re in Chapter 11.
As we mentioned yesterday, Frank McCourt has secured a loan — a terrible one, but a loan nonetheless — of $150 million to keep the team operating during bankruptcy. That has to be approved by the judge, however, and according to multiple reports out there, Major League Baseball is expected to offer an alternative financing solution. One that, one presumes, will not cost the Dodgers 10% a year in interest with a $4.5 million nuisance fee like McCourt’s plan. At the same time, baseball’s plan will likely come with the proviso that McCourt be kicked to the curb and the team be sold to the highest bidder.
The devil is in the details and we don’t know any details to MLB’s alternative financing plan so, no, it’s not certain that the judge would prefer baseball’s plan to McCourt’s. But he could. If he does, it will likely mark the beginning of the end for him. If he lets Frank take his $150 million loan, it will likely be a much longer road ahead. At least for those of us who want to see Frank McCourt removed from power.
- Monday’s White Sox/Orioles game postponed due to ongoing protests and violence in Baltimore 0
- Cardinals confirm Adam Wainwright is done for season with torn Achilles 5
- Source: Josh Hamilton rejected a trade to a National League team because he wanted to go back to Texas 24
- Deal done: Josh Hamilton traded to the Texas Rangers for cash considerations 29
- Pitchers batting is dumb and the DH should be universal 349
- And That Happened: Sunday’s scores and highlights 88
- Alex Rodriguez hits 659th career home run, now one shy of tying Willie Mays 60
- Max Scherzer doubtful for next start due to thumb injury 5
- Pitchers batting is dumb and the DH should be universal (349)
- Comment of the Day: do not underestimate the seriousness of the anti-DH crowd (183)
- The early leaders in MLB’s “Franchise Four” thing have been announced (166)
- The Royals and White Sox had a benches-clearing fracas, five players ejected (161)
- Protesters converge on Oriole Park at Camden Yards (149)