THIS IS BREAKING NEWS....
The end could be coming, but if true, it could be a ways away. According to Bill Shaikin (via Twitter), Frank McCourt and Major League Baseball discussed a settlement by which McCourt would sell the Los Angeles Dodgers. According to Shaikin, the way the deal would be structured, āif Selig agrees to a settlement, McCourt agrees to sell. Terms might be negotiable, outcome would not beā a reference to McCourt no longer holding onto any Dodger assets. As in any negotiations, discussions of a settlement could fall apart at a momentās notice, but if true, it's the first sign that McCourt sees his ability to retain the Dodgers slipping away.
This morning, a bankruptcy judge postponed a critical hearing that would determine whether McCourt could force an auction sale of the Dodgers media rights until Nov 29. Both MLB, FOX Sports, and representatives of season ticket holders are opposed to the proposed action by McCourt. The Dodgers counter that Selig is treating McCourt differently than others in an attempt to force him to sell the club. The league has said that McCourt would only use the proceeds from the auction to pay off debt incurred as part of his divorce from former wife Jamie, while the current Dodger owner has said that the auction will allow the Dodgers to exit bankruptcy with extra revenues with which to spend on matters such as player payroll.
Analysts have projected that the Dodgers could be worth between $1 billion to $1.5 billion at sale.
Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey, and is a contributor to Forbes SportsMoney blog..Ā He is available as a freelance writer. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network (select his name in the dropdown provided).
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