Monday, June 27, 2011

Bankruptcy Round Up

Here is a brief round up of bankruptcy related news:
  • Bill Shaikin passes along a list of creditors that primarily include ballplayers- Manny Ramirez being the largest creditor the Dodgers have.
  • Read the entire BK filing here, at the LA Times.
  • Sons of Steve Garvey has a run-down; including some tweets. One of which says Jamie McCourt just wants the team sold.
  • Here's the McCourt press release regarding todays' BK filing.
    "The Dodgers have delivered time and again since I became owner, and that's been good for baseball," McCourt said. "We turned the team around financially after years of annual losses before I purchased the team. We invested $150 million in the stadium. We've had excellent on-field performance, including playoff appearances four times in seven years. And we brought the Commissioner a media rights deal that would have solved the cash flow challenge I presented to him a year ago, when his leadership team called us a 'model franchise.' Yet he's turned his back on the Dodgers, treated us differently, and forced us to the point we find ourselves in today. I simply cannot allow the Commissioner to knowingly and intentionally be in a position to expose the Dodgers to financial risk any longer. It is my hope that the Chapter 11 process will create a fair and constructive environment to get done what we couldn't achieve with the Commissioner directly."
  • The best pic of the day belongs to DodgerDivorce, via twitter, a great reader submitted photo.

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