revia perth australia suhagra fast usa online pharmacy uk tamoxifen skelaxin discounts codes baclofen on line pharmacy tamoxifen ebewe 20 mg side effects can you buy altace further discount order clonidine medication by mail cheapest metoclopramide in the uk cipro tablets crush cialis vs viagra forum comments daily cialis better than viagra buy generic aleve with bonus valtrex interactions other drugs buy sinemet 275 free viagra sample by mail secure hydrochlorothiazide uk brand name zyrtec uses medication what does sominex contain cheap allinclusive holidays for 2008 bystolic dosage maximum diovan hct manufacturer coupon cafergot india zyrtec australia hydroxyzine dosage best drugstore makeup remover wipes for acne prone skin ordering depakote canada compare prices kamagra oral jelly online sale of revatio pet meds online canada purchase cefixime how to get betapace drug zyrtec generic release date buy cheap dvds online australia bupropion generic cheap costs can you buy cytotec tablets alli wanted online review buying proventil blue oval pill vgr 100 where to buy liv 52 uk cozaar dosage 100mg arimidex vs nolvadex vs clomid lithium dose bipolar 2 anafranil in croatia pfizer zyvox assistance program eligible prevacid 40 mg pharmacy prednisone 1 mg price femara pct buy amazon thunder acai pure reviews best price for real benicar artane for purchase where to buy clomid online safely prescription asacol rx where to buy benzaclin online reviews on lopid buy beconase aq boots pharmacy clomid comprar aldactone prescription effects interactions zyban prices seroquel 100 mg tabletten what does coreg treat safe buy celadrin online jia yi jian ireland discontinued use of depo provera rosuvastatin noprescrition needed usa online pharmacy levoxyl price comparison buy retino a cream 0 05 no prescription planete pharmacie london why has orlistat been discontinued vente de nootropil au quebec inderal la 80 mg generic medrol online no prescription drugs pharmacy buy buy pulmicort hong kong generic flonase side effects high blood pressure low price exelon uk where to buy tetracycline for fish pharmacy what is the generic version of plavix alli capsules for sale acai berry diet now cleansing xenical buy cheap mebendazole side effects in children how to by roxithromycin online common side effects of sublingual nitroglycerin over the counter generic avapro cephalexin canada head office what does ampicillin do for acne star wars grand florida alliance generic detrol usa pharmacy nitrofurantoin mono mac 100mg caps used treat pain pills for back pain how to take orlistat lesofat purchase citalopram 20mg diovan ordering no prescription buy misoprostol online uk precio cymbalta 60 mg mexico safe cialis professional buy levitra pas cher italie florida zofran fastest mentax uk delivery actos with american express is it safe to order indinavir generic brand for zofran geriforte tablets himalaya what is the classification of rocaltrol cyklokapron sale where can i order roxithromycin what is the classification for atarax espn mayne event viagra fast roxithromycin delivery discount canadian pharmacy sominex india finpecia price rogaine 2 order canada mail order generic deltasone tetracycline for dogs uti can i get finax voveran by mail order aqua ban men protonix canadian medications without prescription aciphex pills sweat order cialis soft from india without prescription what happens when you take cialis and viagra together generic female viagra buy canada sildenafilo citrato tabletes billig xenical online kaufen cipralex side effects in men buy ginette-35 pills allegra feltz wedding pictures what is pulmicort nebulizer used for viagra professional online usa liposafe with no rx generic from albenza roxithromycin online pharmacy buy amoxil without a subscription side effects of trazodone weight gain viagra online uk cheapest cialis mail order generic confido glycomet purchase in canada no prescription common side effects of duloxetine buy duphalac hong kong mobic tablets 15mg side effects where can i get compazine pills price increase hoodia diamox with paypal payment buy norvasc astrailia information on plavix tablets evista uk boots alli boots ireland buy aciclovir tablets usa buy premarin online overnight maxalt for daily use canada can you order diakoff buyers of phenergan canada brand amoxil rx generic proscar vs propecia lincocin buy canada detrol without script clozaril doses what does levitra 20 mg do how much does generic seroquel cost at walmart buy zithromax 100mg online seroflo side effects uk amitriptyline hcl generic name buy blopress online at canada pharmacy buy eurax new zealand online is it safe to order cystone jim thorpe stats football norvasc online buying comprar zebeta en argentina tadalafil generic reviews cialis junk mail bentyl 40mg levitra brand for sale where to buy rumalaya forte amaryl women buy us online pharmacy no prescription arjuna what is viagra jelly made of tamsulosin cap 0.4mg side effects nexium mexico no prescription all types menosan pills what is the generic name for diltiazem suhagra uk pharmacy what is zovirax ointment used for 100mg neurontin for anxiety lopressor iv push low dose naltrexone uk nhs buying serpina order abilify 30 mg generic organic pharmacy furosemide canadian source top 10 online toradol sites allegra d dosage children best online pharmacy generic digoxin pavitra rishta desi tashan written update cymbalta 30 mg tablet celebrex dose arthritis acai beeren online bestellen amaryl 1/1000 what is amlodipine besylate 10mg used for cheap cialis viagra tell viagra genuine seroflo price kytril for sale philippines what is aciclovir tablets 200mg buying eldepryl in manchester flovent where to get where can i buy tofranil alli weight control pills www.assessrx.com lamictal sale just nolva for pct nolvadex new zealand is there a generic for zyvox best place buy viagra online uk forum order buy discount advair diskus get elimite toronto over the counter diflucan in the uk where can you buy acai berry juice nor haykakan filmer online low price procardia uk purchase desyrel on line in usa discount buspar otc best deal on cialis canadian pill canadian drug laws penalties v-gel online coupon code prostate pills avodart what is prednisolone pills used for what will lipitor generic cost ceftin generico online online pharmacy rocaltrol where can i buy eltroxin prominent coumadin ridge lamisil without rx buy prazosin bulk cardura tablets for sale amitriptyline dosage insomnia recall on lipitor in canada depakote pills buy rosuvastatin side effects weight gain buy genuine hoodia uk buy terramycin dogs online cheap genuine zyprexa online pantoprazole 20 mg 40 mg how much does korean red ginseng cost do over the counter erectile dysfunction pills work elimite cost without insurance online prescriptions thailand side effects of zantac baby sleeping pills without doctors prescription does promethazine pills get you high buy advair diskus tablets canada strattera 25 mg street price zoloft pharmacy zyban online australia purchase isoptin online nexium coupons and discounts where can i get kamagra oral jelly pills rumalaya where can i buy it air max 1 leopard size 4 delivery plendil without paypal non prescription minomycin buy generic ceftin cheap nexium user reviews is mail order valtrex safe buy voltaren emulgel australia brand aceon for sale spring valley antioxidant support acai reviews how long for singulair to get out of system generic uroxatral medication hyzaar wanted online review there generic bentyl buy diamox in ireland generic snovitra super power us carbozyne sale india online buy lotrisone without buy alesse 21 online canadian pharmacy sex power tablet in india buy propecia hong kong cost of prevacid for infants buy paxil no prescription fast delivery is the uk law on drugs right zanaflex generic for side effects of taking metformin for pcos effexor xr generic release date buy prozac caplets online usa apcalis sx uses medication what drug category is famvir retin a micro 0 1 gel prec,o online cialis reviews buy revatio pills in the canada insulin resistance symptoms in children what does of doxycycline to cure chlamydia is it illegal to order generic benfotiamine buy pain pills online forum viagra without prescriptions in usa where to buy inderal drugs online nexium discount coupons australia what is parietal lobe do the online drugstore propecia buy brand viagra online in usa nike air max 1 black leopard ebay brafix coupon code how to take levlen pills what does seroquel look like where can i get retino-a cream 0,05 cipla india pharmaceutical azulfidine uses medication tenormin prix en pharmacie en france does alli at boots work phone in order for methotrexate medrol prescription information generic nitroglycerin for sale on line erectile dysfunction drugs xm radio ad can calcium carbonate cause weight gain which is best viagra cialis or levitra can buy viagra jelly online discover ireland gb cheapest levitra online uk diflucan 10 mg ml what is ashwagandha used for get adalat toronto buy januvia australia sinemet brands india buy xenical quick where to buy yagara in canada safely buy doxycycline online no prescription usa zanaflex buy mexico minomycin pills sweat buy menosan online overnight buy cheap kamagra online uk purchase hydrochlorothiazide online no prescription celebrex 100 mg pret what is topamax good for haldol tablets dose generic for advair diskus 1000 50 buy ashwagandha no prescription trazodone no prrescription lariam without prescription where can i get claritin where to buy nolvadex forum estrace medication women nymphomax canada overnight delivery i pill estrace website how to by robaxin online kamagra made in india office sales cialis preise vantin online pay paypal speman 40 mg dose side effects of hyzaar medication nootropil ships from india clarithromycin side effects nhs what is the drug precose does aldactone cause weight loss costco pharmacy imuran price discount canadian pharmacy liposafe insulin resistance symptoms dark skin i pill danazol website how to use nitroglycerin transdermal patches calan canadian pharmacy bactrim tablets for children revatio sale cialis prescription glyset online cheap cephalexin keflex side effects cheap septilin uk safe buy trimox online cytotec cheap india pharmacy ordering medications online without prescriptions lynoral coupon code on line drugs online pharmacy uk unisom where coumadin initial voveran results forum how to use fucidin cytotec dose missed abortion order speman cheap prilosec nexium lawsuit where to buy revatio with mastercard florinef without prescription miami prednisone withdrawal in dogs symptoms methotrexate online in usa septilin for sale philippines comprar caverta original en madrid prednisone from mims compare prices hytrin buy brahmi online cheap buy tricor 10 cytoxan tablets purchase on line using cialis and viagra together buy lederle minocin how much is emsam tablets female viagra effects had where to spend honor points alliance cataclysm lithium shortage 2011 what does allegra d twelve hour look like buy retino-a cream 0,05 online pharmacy accutane results how long generic zithromax z pak goes you buy shuddha guggulu canadian buy speman 40 free coupon for glycomet common side effects of cozaar order viagra online with amex where purchase apcalis sx weather vigra norway discount canadian pharmacy serophene wellbutrin buy online uk ordering ralista allegra d canada pharmacy where to buy water pills in toronto generic didronel to buy flovent in uk voltaren retard 75 mg bijsluiter cheap propecia uk can i order cephalexin no prescription in the usa online without buy cheap aricept order alphagan online no prescription with a echeck combivent drugs feldene medication for dogs ginseng pills for energy can buy viagra singapore lista de nombres de pastillas para la ereccion pharmacy 365 kamagra canadian pharmacy cheap amoxil meloxicam tabletas 15 mg dosis how to take eldepryl how to order ginseng wellbutrin canada overnight delivery trazodone online canadian prevacid 30 mg over the counter price carbozyne order canada what color is levitra pill can you buy diclofenac over the counter fluoxetine 40 mg capsules a107 vente cialis montreal exelon medication parkinson;s what does depakote do for migraines order skelaxin pill generic capoten switzerland indocin generic 2013 drugs actonel drug oversea get zithromax no prescription how much is augmentin without insurance bystolic purchase buy fluconazole tablets ordering nizoral mexico viagra sample pack buy betapace with visa nizoral antifungal drug us online pharmacy no prescription lisinopril buy celexa overseas culturismo italiano andrea nuccitelli zyprexa cost omnicef online australia liv 52 cheap uk buy inderal 20 danazol mg tablet pyridium australia pharmacy prozac nation quotes hemingway biaxin in italia advanced recreational trimix course luvox max dose zanaflex side effects weight gain where can i buy hoodia over the counter best generic coumadin review the chepest zithromax kamagra acai sales co uk viagra over counter london cheap genuine erexor online side effects of amitriptyline hcl 50 mg duphalac online how to by tricor online cabergoline effects men walmart prescriptions no insurance how to by baclofen online metoclopramide canada acquistare lipothin in italia generic prograf in usa vpxl online order how much will levothroid cost best pharmacy to order eurax where to transplant amaryllis outdoor how much is generic valtrex med cab valtrex research grade sominex order cytotec overnight how long will it take for pyridium to work zithromax antibiotic without prescription mastercard n antibiotics to buy online canada ginseng visage cytotec overseas get slim acai reviews canadian online pharmacy for cialis soft buy atorlip-5 in singapore tofranil for sale philippines brand coreg buy famvir pharmacy omnicef for men in usa premarin mg buy alli birth control online australia crestor.com minocycline wanted online review
Home Lance Gurewitz What’s happening to the Dodgers? Understanding and looking forward

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 818 guests online

Atom RSS

What’s happening to the Dodgers? Understanding and looking forward PDF Print E-mail
User Rating: / 36
PoorBest 
Lance Gurewitz Article Archive
Written by Lance Gurewitz   
Friday, 29 July 2011 08:16

DodgersThe legal war for the Los Angeles Dodgers has officially begun. When the Dodgers filed for bankruptcy on June 27, sparks flew between the public faces of the two sides—Dodgers owner Frank McCourt and MLB Commissioner Bud Selig. McCourt accused Selig of “knowingly and intentionally … [exposing] the Dodgers to financial risk” while Selig declared that the bankruptcy filing “does nothing but inflict further harm to this historic franchise.” How can one make sense of these and the other accusations flying back and forth? Here’s a primer on the past, present, and future of the litigation.

The Background – Proceedings to Date

The Dodgers need money. Unable to meet payroll on June 30, the Dodgers filed for bankruptcy to prevent Major League Baseball from seizing the team. To maintain control of the Dodgers, McCourt must take out a $150-million loan that will let him pay the team’s creditors and submit a business plan that shows how he will maintain the team’s financial stability. McCourt wanted to finance that debt with a loan from hedge fund Highbridge Capital Management instead of the one MLB offered.

The dispute over the Dodger’s financing was the subject of last week’s hearing, which The Biz of Baseball’s Maury Brown detailed here. The two biggest takeaways from those proceedings were that U.S. Bankruptcy Judge Kevin Gross is focusing only on the Dodgers’ finances, not their controlling interest, and that the Dodgers must negotiate a loan with MLB, not Highbridge.

Now, McCourt has eight court dates over the next six months to obtain the court’s approval of a plan to reorganize the Dodgers. The first of those hearings will take place on August 16.

What happens now? – August through December

By all accounts, the key to Frank McCourt bringing the Dodgers out of bankruptcy is his attempt to auction off the Dodgers’ future cable television rights. Currently, Fox Sports West is under contract through 2013 and maintains exclusive negotiating rights through 2012. The Dodgers sought to extend that deal, and the two sides agreed in principle to a 17-year extension worth $3 billion by McCourt’s valuation. However, MLB valued the deal only at $1.6 billion, a startling undersell, leading Bud Selig to reject it by the power of the MLB Constitution, which all team owners must ratify. Selig then reprimanded McCourt for sacrificing a wealth of long-term revenue in order to secure an immediate $385 million payment that would have kept the team out of bankruptcy and in McCourt’s control.

Now McCourt must argue that he can legally auction off the television rights to the highest bidder. There is a sequential set of points that he would have to legally prove to achieve this. First, McCourt would have to show that the only way he can make the money to pay the creditors is by selling the TV rights. Then, he would have to show that the exclusive negotiating rights belonging to Fox are null and void due to the Dodgers’ bankruptcy. This would allow McCourt to sell the television rights to the highest bidder, meaning he would have to attract cable giants like Time Warner Cable, DirecTV, and Viacom to compete with Fox. Finally, McCourt would have to actually execute the sale, which MLB would likely still oppose since the deal would favor short-term over long-term benefit. The question at that point would be whether bankruptcy law supersedes the MLB Constitution.

The Future – 2012 and Beyond

The scenario detailed above can best be described as a longshot. There seems to be little reason to believe that bankruptcy law would override either the Fox contract or the MLB Constitution, let alone both. In the event that it does happen, though, McCourt would be able to successfully take the team out of bankruptcy with significant long-term cost.

Even in that case, though, Frank McCourt will not maintain control of the Dodgers for much longer. If he manages to bring the team out of bankruptcy court, he will still have to spar with Jamie McCourt in divorce court. The result of that case is highly predictable. In California, which is known as a community property state, all jointly owned property must be split 50/50 in the event of a divorce. Since the Dodgers cannot be split in half, Frank would have to sell the team and give half of the money from the sale to Jamie, bringing new ownership to the L.A. franchise.

In the more likely scenario, however, McCourt’s attempt to sell the television rights will fail. In that event, since Major League Baseball is financing the Dodgers, the league will have the opportunity to use its own business plan to bring the team out of bankruptcy. This would entail selling the Dodgers, paying off the creditors, and returning the remaining money from the sale to the McCourts. This would be a faster road to a new Dodgers owner, but regardless, time appears to be running out for Frank McCourt.

Even when the Dodgers are sold, though, Frank’s legal war may continue. As this Dodgers organization chart shows, McCourt has created a company—Dodgers Tickets LLC—that sells the tickets but is not a part of the Los Angeles Dodgers. Similarly, McCourt also controls the land surrounding Dodger Stadium separately from the actual team, so he would retain control of it even after a sale of the Dodgers. MLB and the Dodgers’ new ownership will need to engage in some degree of further litigation to resolve these conflicts and prevent McCourt from unduly controlling any part of the Dodgers.

It is no secret that Frank McCourt will cling to convoluted litigation for as long as he can. At the end of the day, though, he will almost certainly be forced out one way or another—either by MLB in bankruptcy court or by Jamie in divorce court. The basic framework of the next several months is now in place. It is now just a matter of time until the lawyers determine which procedure will give the Dodgers franchise a fresh start and a chance to restore its former glory.


Lance Gurewitz is an undergraduate at The Wharton School of the University of Pennsylvania, Class of 2014. He has served as a sales/marketing intern at ESPN 760 AM Radio and as a residential team adviser for the inaugural Wharton Sports Business Academy, a summer program designed to introduce high school students to the business of sports. His primary interest lies in the critical analysis of athletes and their contributions to winning team sports, particularly baseball.

Follow The Biz of Baseball on TwitterTwitter

FacebookFollow the Business of Sports Network on Facebook

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?