Monday, October 24, 2011

Dodger Creditors Endorse Sale

Probably the most important stakeholder in the entire Dodger bankruptcy imbroglio has just declared to the judge, "sell the team!" The beginning of the end is at hand. Via Steve Dilbeck at LA Times.
The official creditors' committee asked U.S. Bankruptcy Judge Kevin Gross to deny the Dodgers their proposed television rights auction, arguing that the prospect of a lawsuit from Fox Sports and opposition from Major League Baseball could jeopardize the money available to repay creditors.

"The committee cannot gamble the 100% recoveries of its constituents on such a risky proposition," lawyers for the committee wrote in a court filing.

Instead, the committee said, "A prompt sale of the team is the most prudent course of action."

(Hat Tip: 6-4-2)

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