Los Angeles Dodgers: Frank McCourt Still in Control...for Now
On Tuesday, Frank McCourt was basically granted a stay of execution when a bankruptcy judge allowed him to continue day-to-day operations of the Los Angeles Dodgers and approved the bankruptcy financing deal he has with Highbridge Capital instead of forcing him to take the financing by Major League Baseball.
This is only a stay because MLB can still apply to seize control of the Dodgers at any time. MLB has the power to do so once a team files for Chapter 11 bankruptcy.
It is only a matter of time before Bud Selig and MLB make it official and file for the termination of the franchise. This is needed in order for the league to take control of the team. It is unclear when this will happen, but I'm betting it happens very soon.
Frank McCourt and the Dodgers' attorneys may believe that "Selig's efforts seem to be driven by a personal animosity towards Mr. McCourt" but I'm thinking that's not true. Well, not 100 percent true anyways.
Selig's main issue with Frank McCourt is how he and his soon-to-be-ex-wife used the Dodgers as their own personal cash machine and ran this once-proud-and-historic franchise into the ground while doing nothing to stave off the issues now facing the team. All McCourt had to do was sell off part of the team like the Wilpons did for the Mets earlier this season, and I'm pretty sure Selig wouldn't be as aggressive as he is now towards the Dodgers.
But Frank McCourt didn't want to do that. Bringing in even a minority owner would have meant less money in his and Jamie's pockets.
The end is near for Frank McCourt. The recent "wins" in bankruptcy court will not change that. Baseball will sell off the team to the highest bidder and then, hopefully, Dodgers fans will once again have something to cheer about. Stay tuned as this ongoing drama continues.
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