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.
- 2015 MLB Trade Deadline Tracker 5
- Giants to acquire Mike Leake from Reds 14
- Astros acquire Carlos Gomez and Mike Fiers from Brewers 40
- Pirates bolster bullpen, pick up Joakim Soria from Tigers 11
- The extraordinarily odd, 13-player Dodgers-Marlins-Braves trade is done 62
- Blue Jays acquire David Price from the Tigers 111
- Both the Phillies and the Rangers did well in the Cole Hamels trade 72
- Rangers land ace left-hander Cole Hamels from Phillies 106
- The MLBPA is considering withholding cooperation with ESPN, Fox over Colin Cowherd’s comments (157)
- The Cubs are in discussions with the Phillies on Cole Hamels (146)
- Major League Baseball rips Colin Cowherd in an official statement (123)
- Blue Jays acquire David Price from the Tigers (111)
- Rangers land ace left-hander Cole Hamels from Phillies (106)