Dodgers file Chapter 11

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John Q. Public
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Dodgers file Chapter 11

Post by John Q. Public » Mon Jun 27, 2011 6:24 am

Part of the press release, copied from the LA Times:
The Los Angeles Dodgers filed for protection under Chapter 11 of the U.S. Bankruptcy Code in order to protect the franchise financially and provide a path that will enable the Club to consummate a media transaction and capitalize the team. Dodger owner Frank McCourt cited Major League Baseball Commissioner Bud Selig’s refusal to approve the Fox transaction as the cause for the Chapter 11 filing.

“The Dodgers have delivered time and again since I became owner, and that’s been good for baseball,” McCourt said. “We turned the team around financially after years of annual losses before I purchased the team. We invested $150 million in the stadium. We’ve had excellent on-field performance, including playoff appearances four times in seven years. And we brought the Commissioner a media rights deal that would have solved the cash flow challenge I presented to him a year ago, when his leadership team called us a ‘model franchise.’ Yet he’s turned his back on the Dodgers, treated us differently, and forced us to the point we find ourselves in today. I simply cannot allow the Commissioner to knowingly and intentionally be in a position to expose the Dodgers to financial risk any longer. It is my hope that the Chapter 11 process will create a fair and constructive environment to get done what we couldn’t achieve with the Commissioner directly.”

The Los Angeles Dodgers have tried for almost a year to have Commissioner Bud Selig approve a transaction, which would assure that the Los Angeles Dodgers would be one of the strongest capitalized franchises in Major League Baseball, both now and for years to come. Indeed, for months, the Dodgers have sought approval from the Commissioner of a multibillion dollar media rights transaction negotiated between the Dodgers and FOX, which would immediately infuse hundreds of millions of dollars of capital into the Los Angeles Dodgers. The Commissioner’s office last week rejected the deal, despite having been made aware by the Dodgers since the spring of 2010 of the franchises’ cash projections and in turn liquidity needs for 2011.
Sounds like this could throw a large monkey wrench into the Commissioner's plans.
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Re: Dodgers file Chapter 11

Post by Buc Pride » Mon Jun 27, 2011 6:39 am

When will it end.....? This year appears to be lost.

I don't care who owns the team, just get us some damn help

....and slow down on the police presence at Chavez, it is really uncomfortable.
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Re: Dodgers file Chapter 11

Post by Ramon » Mon Jun 27, 2011 6:52 am

Buc Pride wrote:When will it end.....? This year appears to be lost.

I don't care who owns the team, just get us some damn help

....and slow down on the police presence at Chavez, it is really uncomfortable.
I was at the game on Saturday in my Angels gear w/my better half...It was a nice visit...No drama...Friendly fans...Just hope this nightmare ends soon for the real Dodger fans...
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Re: Dodgers file Chapter 11

Post by RPW » Mon Jun 27, 2011 7:48 am

Ramon wrote: I was at the game on Saturday in my Angels gear w/my better half...It was a nice visit...No drama...Friendly fans...Just hope this nightmare ends soon for the real Dodger fans...
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Re: Dodgers file Chapter 11

Post by Notorious » Mon Jun 27, 2011 8:01 am

I don't understand how this is topic of the day?

The Dodgers are irrelevant so who cares if they file for bankruptcy.
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Re: Dodgers file Chapter 11

Post by slowyoroll » Mon Jun 27, 2011 8:11 am

Notorious wrote:I don't understand how this is topic of the day?

The Dodgers are irrelevant so who cares if they file for bankruptcy.

lol...sorry Buc
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Re: Dodgers file Chapter 11

Post by Buc Pride » Mon Jun 27, 2011 8:12 am

Notorious wrote:I don't understand how this is topic of the day?

The Dodgers are irrelevant so who cares if they file for bankruptcy.

No
stop it
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Re: Dodgers file Chapter 11

Post by John Q. Public » Mon Jun 27, 2011 8:14 am

YANKEES BUY THE DODGERS!
Posted on Monday, June 27th, 2011
By Frank Lake

The Los Angeles Dodgers filed for bankruptcy today – and the NY Yankees quickly bought the team.

According to a release issued by the team on Monday morning, the Dodgers filed for bankruptcy. Hal Steinbrenner, owner of the New York Yankees, immediately announced that the New York Yankees would purchase the ballclub.

“The Yankees organization always wanted to have a west coast presence – and now we have it,” said Hal Steinbrenner. The Los Angeles Dodgers will be known as the Los Angeles Yankees starting in 2012.

Hal Steinbrenner is happy with his decision.

“It’s an unconventional decision to say the least,” say longtime Yankeees sportscaster, Michael Kay, “but the Yankees want to expand their brand and to have a team in the American League and one in the National League is fantastic.”

Steinbrenner is dreaming of a Yankees-Yankees World Series.

http://weeklyworldnews.com/sports/35021 ... e-dodgers/
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Re: Dodgers file Chapter 11

Post by MDDad » Mon Jun 27, 2011 8:47 am

Buc Pride wrote:When will it end.....? This year appears to be lost.

I don't care who owns the team, just get us some damn help

....and slow down on the police presence at Chavez, it is really uncomfortable.
Sorry, Buc, but I'm an Angels fan.

I hope the TV deal falls through, Jamie gets half the team, and Frank sells half of his half to Donald Sterling.

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Re: Dodgers file Chapter 11

Post by slowyoroll » Mon Jun 27, 2011 8:55 am

MDDad wrote:
Sorry, Buc, but I'm an Angels fan.

I hope the TV deal falls through, Jamie gets half the team, and Frank sells half of his half to Donald Sterling.
:ROFL: Damn that's cold..
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Re: Dodgers file Chapter 11

Post by Buc Pride » Mon Jun 27, 2011 9:24 am

MDDad wrote:
Sorry, Buc, but I'm an Angels fan.

I hope the TV deal falls through, Jamie gets half the team, and Frank sells half of his half to Donald Sterling.

At least the Dodgers have an excuse(s) for being bad

I'm not seeing anything from your LA Angels of Orange County to make me think they will make a run. Not this year. Arte seems content on being a second tier team in the AL.
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Re: Dodgers file Chapter 11

Post by Captain Insano » Mon Jun 27, 2011 9:50 am

More legal maneuvers, which just buys McCourt more time. He'll eventually lose, but will put the Dodgers through hell in the interim.

The Dodgers are a franchise, and as such, are under the franchise rules of MLB. Under those rules, McCourt loses the franchise by declaring bankruptcy. However, bankruptcy law trumps MLB rules, so more lawyers get rich arguing over who owns what, and who did what to whom. For years.

Get ready for a long slog, Dodger fans. Frank McCourt truly believes he can win this thing. Amazing.

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Re: Dodgers file Chapter 11

Post by Ramon » Mon Jun 27, 2011 10:47 am

Buc Pride wrote:

At least the Dodgers have an excuse(s) for being bad

I'm not seeing anything from your LA Angels of Orange County to make me think they will make a run. Not this year. Arte seems content on being a second tier team in the AL.
We're not bad...We're a Free Agent or two away from being amazing...Kendry is on the mend...We have a great farm system...I work with the Dodger organization...Things are bad...Friends of mine are worried about making Mortgage next month...Jaime is worried about getting her $10K a month hairdresser to work on her crow's nest hair...MLB should have approved the TV deal...the McCourt's would have been gone sooner than later...This sucks for baseball in So. Cal. :2cents:
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Re: Dodgers file Chapter 11

Post by MDDad » Mon Jun 27, 2011 11:04 am

Ramon wrote:We're not bad...We're a Free Agent or two away from being amazing...Kendry is on the mend...We have a great farm system.
I disagree. Buc's right. The Angels are not a free agent or two away from amazing. Even if they were, Tony Reagins is in way over his head as a general manager. He can't sign a major free agent, and he gets bamboozled in trades. Yes, Kendry is on the mend. He has been for over a year, and he will be for another year. We don't have a great farm system -- we have an average one.

What Moreno and Reagins have allowed to happen to the Angels offense and bench in the last two or three years is close to criminal. The offense is the worst since the early 70's, when Nolan Ryan and Frank Tanana had to throw shutouts just to get a tie. The Angels have the 4th highest payroll in major league baseball, but a third of it is going to Gary Matthews Jr., Scott Kazmir and Vernon Wells. Moreno and Reagins owe their fans a hell of a lot more than the group they've put together this year.

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Re: Dodgers file Chapter 11

Post by Ramon » Mon Jun 27, 2011 11:26 am

MDDad wrote:
I disagree. Buc's right. The Angels are not a free agent or two away from amazing. Even if they were, Tony Reagins is in way over his head as a general manager. He can't sign a major free agent, and he gets bamboozled in trades. Yes, Kendry is on the mend. He has been for over a year, and he will be for another year. We don't have a great farm system -- we have an average one.

What Moreno and Reagins have allowed to happen to the Angels offense and bench in the last two or three years is close to criminal. The offense is the worst since the early 70's, when Nolan Ryan and Frank Tanana had to throw shutouts just to get a tie. The Angels have the 4th highest payroll in major league baseball, but a third of it is going to Gary Matthews Jr., Scott Kazmir and Vernon Wells. Moreno and Reagins owe their fans a hell of a lot more than the group they've put together this year.
I will agree that Reagins couldn't find his azz with two hands a map & a flashlight...But we as Angel fans have very high standards...I like our team...Although I'm not a fan of Kazmir & Wells...Thank god Kazmir is gone...I just wish we could go out and pick up some more firepower...
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Re: Dodgers file Chapter 11

Post by Troglodyte » Mon Jun 27, 2011 12:15 pm

John Q. Public wrote:YANKEES BUY THE DODGERS!
Posted on Monday, June 27th, 2011
By Frank Lake

The Los Angeles Dodgers filed for bankruptcy today – and the NY Yankees quickly bought the team.
Trying to start a rumor, Johnny??? There's no mention of this anywhere on the news, and it would be a bigger story than Bloger*** getting found guilty. Plenty of that.
The Yankees probably would want to buy the Dodgers, if only to get even with them for the 195* World Series stomping they gave them.. :ROFL:
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Re: Dodgers file Chapter 11

Post by slowyoroll » Mon Jun 27, 2011 12:20 pm

Troglodyte wrote: Trying to start a rumor, Johnny??? There's no mention of this anywhere on the news, and it would be a bigger story than Bloger*** getting found guilty. Plenty of that.
The Yankees probably would want to buy the Dodgers, if only to get even with them for the 195* World Series stomping they gave them.. :ROFL:
Just heard this on ESPN when I went home for lunch...If they are sold through BR court they don't have any say on who buys the team..Meaning it could be someone like Mark Cuban and they don't want that to happen
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Re: Dodgers file Chapter 11

Post by Wiley » Mon Jun 27, 2011 1:45 pm

slowyoroll wrote:
Just heard this on ESPN when I went home for lunch...If they are sold through BR court they don't have any say on who buys the team..Meaning it could be someone like Mark Cuban and they don't want that to happen
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Re: Dodgers file Chapter 11

Post by THe Nug » Mon Jun 27, 2011 3:13 pm

Troglodyte wrote: Trying to start a rumor, Johnny??? There's no mention of this anywhere on the news, and it would be a bigger story than Bloger*** getting found guilty. Plenty of that.
The Yankees probably would want to buy the Dodgers, if only to get even with them for the 195* World Series stomping they gave them.. :ROFL:
And in this week in things sailing over your head...

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Re: Dodgers file Chapter 11

Post by Red » Tue Jun 28, 2011 6:15 am

You want irony, I'll give you irony. Either that idiot Frank goes back to Boston or he stays in LA working for the Dodgers collecting money for parking.

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