A Delaware bankruptcy judge held that the Los Angeles Dodgers owner Frank McCourt must negotiate with MLB over the terms of a loan, citing the more favorable terms of the deal. McCourt had arranged $150 million in Debtor-in-Possession (DIP) financing from a JP Morgan hedge fund, Highbridge Capital, under some pretty onerous terms — 10+% interest, […]
Tag Archives | mlb
Rangers to make changes at ballpark in response to tragedy
Despite meeting code, the Texas Rangers will make changes to Rangers Ballpark in Arlington, including raising of the height of all rails in front of seating areas to the highest standard in the country. The current minimum code for railings at the end of a walkway is 42 inches. In front of fixed seats, the […]
St. Pete mayor: There’s nothing wrong with the Trop
The simmering debate over the worthiness of Tropicana Field as the home of the Tampa Bay Rays continues, as broadcaster John Kruk and manager Joe Maddon all take shots at the place, with St. Pete Mayor Bill Foster declaring it fit for MLB. The latest incidents: a bank of lights went out Monday night, causing […]
Remembering Winter Haven’s spring-training heritage
Though it’s unlikely spring training will ever return to Winter Haven in central Florida, the city can look back on a several MLB teams training in the city. Here’s a look at the history of spring training in Winter Haven. The News Chief laid out the history of spring baseball in Winter Haven, which began […]
Consultant: Ballpark safety needs to be reevaluated
In the wake of Shannon Stone’s tragic fall at Rangers Ballpark in Arlington and a nearly disastrous fall last night during the All-Star Home Run Derby, a safety consultant is calling for higher railings at ballparks across the country. There’s no uniform building code for ballparks; team determine things like railing heights in conjunction with […]
Sheriff Joe calls off chain gang at the All-Star Game
No surprise Sheriff Joe would be elbowing his way into the spotlight during the All-Star Game, but it sounds like cooler heads prevailed over the craziness as Arpaio scrapped plans to have a chain gang picking up trash outside Chase Field Tuesday night. Arpaio, for the uninitiated, is the controversial Maricopa County sheriff whose law-enforcement […]
Dodgers: Selig was unfair toward team ownership
In a signal that Frank McCourt’s lawyers are planning on playing hardball during bankruptcy proceedings, they’re asking Major League Baseball to hand over a raft of documents about how Commissioner Bud Selig has treated other teams during troubled financial times — information MLB lawyers will surely fight to keep private. McCourt’s attorneys are obviously attempting […]
Improbable pair to appear at Monday Thunder game
If you asked us to come up with a highly unlikely pairing of celebrities to appear at a Minor League Baseball game, there’s no way we’d come up with Elizabeth Gilbert and Harold Reynolds, who will be at Waterfront Park, the home of the Trenton Thunder (Class AA; Eastern League), Monday night. It’s not surprising […]
McCourts reach tentative divorce agreement, allowing Frank to keep Dodgers — maybe
Frank and Jamie McCourt reached a tentative divorce agreement that would potentially allow Frank to retain control of the Los Angeles Dodgers, but with one huge condition: in order to fund a settlement, MLB Commissioner Bud Selig must approve a controversial long-term sale of TV broadcast rights to Fox Sports. The settlement, announced this morning, […]
Einhorn negotiating for chunk of Mets
David Einhorn, a high-profile Wall Street investor who seeks to find value in underperforming corporations, is negotiating to buy a non-controlling stake in the New York Mets. Einhorn is a big baseball fan, growing up in Milwaukee and playing ball as a kid. He’s made his mark in the financial world as a hedge-fund manager, […]
Gloves are off for McCourt: Selig has no right in seizing Dodgers
Frank McCourt came out swinging today in the ongoing Los Angeles Dodgers ownership drama, saying at a New York City press conference that MLB had no business rejecting a lucrative naming-rights deal with Fox and appointing Tom Schieffer to monitor the team’s operations. McCourt met today with Major League Baseball officials and presented them with […]
Schieffer new Dodgers monitor
Talk about a potential culture clash: MLB Commissioner Bud Selig appointed J. Thomas Schieffer, a former Texas Rangers president and a Lone Star State guy through and through, to oversee the floundering finances of the Los Angeles Dodgers as the team gets its house in order. Schieffer, currently an attorney specializing in oil and gas […]
McCourt response to Selig: Strong words, no lawsuit
So far the only response from Los Angeles Dodgers owner Frank McCourt to the takeover of his team by MLB has been some strong words coming from a subordinate — but no lawsuit yet, despite some reporting to the contrary by iffy media outlets. New Dodgers hire Steve Soboroff, a Los Angeles political insider installed […]