Wednesday, July 20, 2011

DEVELOPING: Dodgers Bankruptcy Hearing Underway


The Los Angeles Dodgers' proposed $150 million bankruptcy financing plan is now being debated in a Delaware court.

The Dodgers' list of creditors withdrew their initial objection to the team's ideas of getting their money from a hedge fund at a ridiculous interest rate... something like 20-percent to start, but after MLB squawked, it was tweaked.

Major League Baseball and Commissioner Bud Selig still object to the plan.

The Dodgers say the league's offer is simply an attempt to take control of the team. A Dodger attorney told the judge Thursday that he will explain to the court why the team should not be forced to do "a deal with the devil."

Phil Shuman goes over the particulars...

Dodgers Bankruptcy Hearing Underway:

The HQ thinks that once the Dodgers screw things up once and for all, they'll use the "best interest of baseball" clause to pull it out from under him.

As well they should...

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