Dodger Disaster: LA Files For Bankruptcy
The Dodgers have announced the team has filed for bankruptcy protection. Team owner Frank McCourt says the move will help stabilize the finances of the team. Whether you believe him or not doesn’t really matter. Whether Frank McCourt can somehow remain the owner of the Dodgers doesn’t really matter. These things will sort themselves out, because Major League Baseball is a cartel, and cartel bosses like their other bosses to be competent.
The Dodgers are a financial disaster. From the Los Angeles Times:
Manny Ramirez is the Dodgers’ largest creditor, according to the bankruptcy filing. The Dodgers owe Ramirez $21 million, followed by Andruw Jones ($11 million), Hiroki Kuroda ($4.5 million), Rafael Furcal ($3.7 million) and the Chicago White Sox ($3.5 million, for Juan Pierre).
The list of creditors includes much of the current Dodgers roster, Hall of Fame broadcaster Vin Scully ($152,778), the city of Los Angeles ($240,563 in tax debt) and two players yet to play for the Dodgers (prospects Zach Lee at $3.4 million and Alexander Santana at $499,500).
The Dodgers owe Vin Scully money. That’s beyond absurd. And this situation is beyond repair, at least on Frank McCourt’s watch.
