Home Safer Law Blog Dodgers Chapter 11 Bankruptcy

Free Initial Consultation
Call Today
PHONE
(619) 794-0460
EMAIL
Lawrence@saferlaw.com
ADDRESS
3180 University Ave
Suite 250
San Diego, CA, 92104
USA
SKYPE
Add Us Now on Skype!
lawrence.saferlaw
GOOGLE TALK

Dodgers Chapter 11 Bankruptcy

The Los Angeles Dodgers today filed a motion in Deleware bankruptcy court to adjourn a hearing on the termination motion of MLB currently set for October 12 to terminate the baseball team’s control of its reorganization (see below).

In MLB’s termination motion baseball commissioner Bud Selig has stated he would not approve of a new local television deal for the Dodgers and that the court should terminate the team’s rights to file a plan of reorganization and the Dodgers should be sold. In response, the Dodgers filing is meant to give owner Frank McCourt the ability to get a new local television deal that would enable him to pay down debt.

In the document, the Dodgers claim that they are entitled to discovery to determine whether Selig has failed to exercise good faith in refusng to consent to any transaction to license the team’s broadcasting rights and that several of the reasons Selig has pointed out in court that justify MLB’s actions against the Dodgers, such as the team’s $500 million of debt, were approved by Selig.