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San Angelo Colts file for bankruptcy protection against creditors

The San Angelo Colts (independent; United League Baseball) filed for Chapter 11 bankruptcy protection Tuesday, preventing a bank from foreclosing on the Foster Field mortgage. 1st Community Federal Credit Union had initiated foreclosure on Foster Field, with the team missing payments on a $384,000 mortgage. The ballpark was privately financed 14 years ago. From the […]

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Canseco signs with Rio Grande, misses first game

Just days after declaring bankruptcy, Jose Canseco signed a contract with the Rio Grande Valley WhiteWings (independent; North American League) — and promptly missed his scheduled debut. Canseco, who parted ways with the Worcester Tornadoes (independent; Can-Am League) earlier this season after just 20 games, was scheduled to make his WhiteWings 2012 debut Saturday night […]

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Jose Canseco files for bankruptcy

Jose Canseco, the flamboyant baseball star who started the season with the Worcester Tornadoes (independent; Can-Am League), has filed for Chapter 7 bankruptcy. Canseco filed yesterday in Las Vegas. The filing listed $20,850 in assets and $1.686 million in liabilities, including $506,000 owed to the IRS. Canseco, still listed on the Tornadoes roster as an inactive […]

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Kasten, Johnson group to buy Dodgers, Dodger Stadium for $2 billion

In a stunning financial transaction, an investment group led by Earvin Johnson and Stan Kasten, funded by Guggenheim Partners, have agreed to buy the Los Angeles Dodgers and Dodger Stadium for $2 billion. The deal was finalized just hours after Major League Baseball owners approved three potential buyers of the team and the storied ballpark. […]

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McCourt looted $189 million from Dodgers: MLB

Frank McCourt has raided Los Angeles Dodgers and Dodger Stadium financial coffers improperly to the tune of $189.16 million, according to MLB attorneys, in anticipation of bankruptcy-court proceedings next week. The battle lines are emerging in the Delaware bankruptcy proceedings: MLB attorneys say McCourt isn’t fit to run and own the team; Fox opposes McCourt’s […]

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