Over objections from Major League Baseball, U.S. Bankruptcy Court Judge Kevin Gross approved the sale of the Los Angeles Dodgers, Dodger Stadium and other assets to Guggenheim Baseball Management for $2.15 billion. The objections to the sale rose from inconsistencies between the sales agreement and MLB rules, according to MLB attorney Thomas Lauria, who added that […]
Tag Archives | bankruptcy court
MLB to bankruptcy judge: Force McCourt to sell Dodgers, or we’ll do it later
In a bankruptcy-court filing, Major League Baseball has asked the Delaware judge overseeing matters to force Frank McCourt to sell the Los Angeles Dodgers and related assets — or else MLB will seize the team post-bankruptcy. “Mr. McCourt cannot hide the Dodgers in bankruptcy forever,” the filing read. The Los Angeles Times reported on the […]
MLB: McCourt not acting in best interests of Dodgers
Frank McCourt is pushing for bankruptcy court to approve an onerous hedge-fund financing plan instead of a lower-interest loan from Major League Baseball because he’d personally be on the hook for fees, according to papers filed yesterday. The battle between McCourt and Major league Baseball is getting intense and nasty, as the pair are fighting […]
Bankruptcy court denies Dodgers document request — for now
Delaware bankruptcy Judge Kevin Gross denied a request by Los Angeles Dodgers attorneys to have Major League Baseball produce a wide-ranging set of documents designed to show Bud Selig treated Frank McCourt differently than other MLB owners. Not a complete surprise. The Los Angeles Dodgers are seeing bankruptcy protection and have arranged $150 million in […]
Creditors raise more objections to Rangers sale; judge to hear new arguments today
U.S. Bankruptcy Judge D. Michael Lynn heard more objections from creditors regarding the sale of the Texas Rangers to Chuck Greenberg and Nolan Ryan; meanwhile, potential bidders seek more time to arrange financing. The courtroom drama regarding the sale of the Texas Rangers continues, as U.S. Bankruptcy Judge D. Michael Lynn heard more objections from […]
Another lawsuit complicates Rangers sale, auction
The bankruptcy involving Tom Hicks and the Texas Rangers is getting more complication, as J.P. Morgan Chase filed suit late Friday, alleging that Hicks improperly transferred the lease to Rangers Ballpark in Arlington from a collateralized status to the team, limiting the amount the bank could recover in a bankruptcy action. The bankruptcy involving Tom […]