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LA Dodgers File For Bankruptcy
by Larry Leo
June 27, 20110 Comments
The LA Dodgers have filed for bankruptcy protection in a Delaware court this morning, putting the blame on the MLB for not approving a multibillion-dollar TV deal that team owner Frank McCourt was counting on to keep the team afloat. The Chapter 11 financing allows the team to use $150 million for daily operations, giving them time to find a long-term media deal that will ensure long-term financial stability. The Dodgers released a statement saying...
quote:
"There will be no disruption to the Dodgers day-to-day business, the baseball team, or to the Dodger fans"
Filed Under: MLB
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