Friday, October 28, 2011

Clearly, MLB Does Not Know Frank McCourt's Track Record Very Well

The bankruptcy trial that would help determine the fate of the Dodgers and finally bring clarity to this ownership circus nightmare...has been postponed for another month. And this is supposed to be so the McCourt can explore a possible settlement.

Settle? Does Frank McCourt ever settle? I mean, there's that $130M settlement to ex-wife Jamie, but it seems to me Frank is pretty comfortable in the courtroom environment. That said, hope never dies:

The Dodgers' bankruptcy trial has been postponed for one month so Dodgers owner Frank McCourt and Major League Baseball can explore a possible settlement under which McCourt would agree to sell the team, multiple people familiar with the matter said Wednesday.

McCourt discussed a potential settlement with league officials Monday and Tuesday, said the people, none of whom were authorized to comment on the confidential talks. U.S. Bankruptcy Judge Kevin Gross announced the postponement in a one-sentence order on Wednesday, without citing a reason for the delay.

The four-day trial had been set to start Monday. Gross postponed the trial to Nov. 29.

Neither the Dodgers nor the league would comment Wednesday, according to their respective spokesmen.

However, the settlement talks hit a snag when the league declined to guarantee McCourt a specific return for selling the team, one of the people said. The league, which already has loaned McCourt $150 million in bankruptcy financing, is not willing to subsidize his exit should the team sell for less than whatever figure he might ask MLB to guarantee, the person said.

In court papers this week, attorneys for McCourt estimated the value of the Dodgers, their stadium and the surrounding land at "in excess of $1 billion." Forbes valued the assets at $800 million last March.

Considering that $200M delta could mean the difference between ownership of five versus ten houses, you know that Frank is going to fight tooth and nail to scrap those pennies together. Well, what's another month between...very angry people?

1 comments:

Dusty Baker said...

Just saw this re: Stow case:

An attorney for the Dodgers clarified comments in which he said Bryan Stow may be held partly responsible for the beating that left him in a coma.

Jerome Jackson told The Times his statements were purely in reference to how a civil jury might break down responsibility for the beating during the Dodgers' home opener in March. He cited a magazine article that said Stow had alcohol in his system when he was admitted to the hospital.

"As Sports Illustrated noted, Bryan Stow was admitted with 0.176 blood alcohol level and that is something that will be considered at trial," he said.

Jackson said the Stow family has sued 16 entities but not the two men accused of beating the paramedic. The Dodgers have sued the suspects.

Stow, a father of two, was walking through the Dodger Stadium parking lot with two friends after the Dodgers' opening-day victory over the Giants in March when he was attacked. Louie Sanchez, 29, and Marvin Norwood, 30, have been charged in connection with the attack.

Jackson initially talked about the case to ESPN on Thursday, saying: "I've been doing these cases for 23 years and I have never seen one yet which it didn't take at least two people to tango."

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Dude was at 0.176? Hammered! Doesn't make one eligible for a beatdown by any stretch, so don't get me wrong, but it does paint a picture that many of us envisioned when we first heard of the incident.