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.
- And That Happened: Monday’s scores and highlights 20
- MLB suspends Jonathan Papelbon seven games for incident during Sunday’s game 36
- VIDEO: Jacob deGrom begins game with eight straight strikeouts to tie MLB record 10
- Bud Selig says MLB and players union will meet this week about domestic abuse policy 8
- And That Happened: Sunday’s scores and highlights 67
- Cuban slugger Yasmani Tomas to command $100 million? 30
- Bruce and Brett Bochy make MLB history 33
- Settling the Score: Saturday’s results 17
- Chris Davis suspended 25 games for amphetamine use (92)
- A few thoughts about the discrimination lawsuit against the Mets (91)
- Giancarlo Stanton diagnosed with multiple facial fractures and dental damage (91)
- Bud Selig can’t remember the last domestic violence incident in Major League Baseball (87)
- A couple of initial thoughts on the Chris Davis suspension (83)