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Tuesday, October 25, 2011

Dodgers (Read: Frank) Ask For More Time

Some very good news buried in this fairly short Times story by Bill Shaikin on the Dodgers asking for an extension to the deadline to file a bankruptcy plan (to April 25):
Major League Baseball has asked Gross to terminate the Dodgers' exclusivity so the league can propose a reorganization plan of its own — that is, to get the team sold this winter. Gross wrote last month that he intended "a prompt disposition of the key issues" so that the Dodgers could "utilize the approaching off season to prepare for the 2012 season."
That does not sound like the judge favors an extension.

Shaikin's Twitter feed this morning is full of what appears to be an interesting story about today's hearing. In the meantime, he's got another piece up about how MLB calculated Frank "looting" $189M from the Dodgers. Bryan Stow's family are now listed as creditors of the team.

Gross has ruled that Dodger Stadium security is a valid issue in the bankruptcy proceedings, as he determines the condition of the Dodgers. Stow's attorney, Thomas Girardi, has said his client's medical bills could exceed $50 million.
It takes a special kind of self-absorbed arrogance to make this comment:
"[Selig] set about fabricating the public misimpression that security at Dodger Stadium was somehow inadequate," the Dodgers' filing read. "This is, by far, the most unforgivable action taken by the commissioner during this entire saga, and has caused enorrmous and irreparable harm to the Dodgers, Mr. McCourt and the game of baseball."
And, OMG, this:
The Dodgers also charge Selig with bad faith in declaring he would reject any television contract proposed by McCourt. The league claims any deal would necessarily require McCourt to divert some team revenue for personal use, including a $130-million divorce settlement.

That claim, the Dodgers said, is "simply make believe."

So Frank tells Jamie's attorney she gets $130M in the settlement, while the only possible way to get that money is by selling TV rights he is not entitled to auction until after the 2012 season is finished. Insane.

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Comments:
Glad to see that Stow's family hired Girardi. I'm not a fan of the man, and his legal paperwork borders on incompetent, but juries stumble all over themselves to throw piles of money at the guy (and more specifically, to his clients).
 

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