The Big Blue Wrecking Crew

It begins...

http://hardballtalk.nbcsports.com/2011/06/27/the-dodgers-file-for-bankruptcy/

The pdf of the filing.

I love that it shows estimated assets of $500M to $1B box checked and under estimated liabilities they've checked the $0 to $50k box.  Yeah, right.

Also shows that LA Dodgers LLC, LA Holdco LLC, LA Real Estate Holding Company LLC, LA Real Estate LLC, Los Angeles Dodgers Holidng Company LLC are listed as pending affiliates and I would guess therefore included in the Chapter 11.  According to my trusty enterprise flowchart that looks like it would include the stadium, ticket manager and season ticket financing arms, but surprise surprise, not include Blue LandCo which is the land adjacent to the stadium.  I'm guessing that's the parking lots and other land he's hoping to still develop.

Shaiken says Frank has lined up #150 million in financing to stay in control diuring proceedings, and until a media deal is finalized.

http://latimesblogs.latimes.com/dodgers/

Man, Frank McCourt is such a weasel.

Vinsandlosses said:

http://hardballtalk.nbcsports.com/2011/06/27/the-dodgers-file-for-bankruptcy/

first link

Frank looks to be playing a game that could bite him on the ass.   His financing plan is nebulous, at best and if Fox sticks to their statement that they will not assist Frank in this endeavour it is much ado about nothing and could put the MLB in a touchy situation if the court orders the sale of the Dodgers.   Then, there is no way Mark Cuban can be excluded from the bidding and I have a feeling he may just be the highest bidder   There is a plus there, he has his own satellite channel, he is well funded and he has not said he won't bid.  

grabarkewitz said:

Vinsandlosses said:

http://hardballtalk.nbcsports.com/2011/06/27/the-dodgers-file-for-bankruptcy/

first link

Frank looks to be playing a game that could bite him on the ass.   His financing plan is nebulous, at best and if Fox sticks to their statement that they will not assist Frank in this endeavour it is much ado about nothing and could put the MLB in a touchy situation if the court orders the sale of the Dodgers.   Then, there is no way Mark Cuban can be excluded from the bidding and I have a feeling he may just be the highest bidder   There is a plus there, he has his own satellite channel, he is well funded and he has not said he won't bid.  

As for the DIP financing, that is iffy, at best.  Frank needs a "real" financing plan that is long range and not just to make this payroll.   Plus, I don't see the money guys letting Frank pay off his personal debts first as was his plan with the Fox monies.  I am very interested on the next move by the MLB.  I already think the courts will look at Frank's end run as nothing more than a man in quicksand grasping at a thin vine. 

Glad you're up early, grabs.  I wanted to see your take on this.

grabarkewitz said:

Vinsandlosses said:

http://hardballtalk.nbcsports.com/2011/06/27/the-dodgers-file-for-bankruptcy/

first link

Frank looks to be playing a game that could bite him on the ass.   His financing plan is nebulous, at best and if Fox sticks to their statement that they will not assist Frank in this endeavour it is much ado about nothing and could put the MLB in a touchy situation if the court orders the sale of the Dodgers.   Then, there is no way Mark Cuban can be excluded from the bidding and I have a feeling he may just be the highest bidder   There is a plus there, he has his own satellite channel, he is well funded and he has not said he won't bid.  

As for the DIP financing, that is iffy, at best.  Frank needs a "real" financing plan that is long range and not just to make this payroll.   Plus, I don't see the money guys letting Frank pay off his personal debts first as was his plan with the Fox monies.  I am very interested on the next move by the MLB.  I already think the courts will look at Frank's end run as nothing more than a man in quicksand grasping at a thin vine. 

I feel better reading your thoughts, I don't think I could handle Frank pulling this out of his anal orifice and keeping the team, talk about nuclear winter. Cockroaches of which I believe Frank is a sub-species of would survive but nothing else. The thought of him keeping the team would severely test my die-hardness and I don't want that.

jWerthfan said:

Shaiken says Frank has lined up #150 million in financing to stay in control diuring proceedings, and until a media deal is finalized.

http://latimesblogs.latimes.com/dodgers/

Wouldn't the MLB have to approve the loan if it's only for day to day operations of the team?

Throwdeuce said:

jWerthfan said:

Shaiken says Frank has lined up #150 million in financing to stay in control diuring proceedings, and until a media deal is finalized.

http://latimesblogs.latimes.com/dodgers/

Wouldn't the MLB have to approve the loan if it's only for day to day operations of the team?

The more I read, the more it looks like Frank is hoping for a last minute stay.   It would appear that Frank is praying Fox has a change of heart and flies in the face of the MLB, who no longer needs Fox with Comcast, Time Warner and the rest of the big three being more than willing to make a play for the television rights.   As for the DIP financing, I hope Frank didn't wager the ranch on that happening, if the court refuses Frank's bankruptcy filing, it is much ado about nothing.   

I guess Frank never got the memo, but the deal with Fox is for $1.7 billion, not the $3 billion he claims.   It look like Frank is hoping for that support from the fan base that will never show.    My word, the man is an embarrassment to delusional people from here to Libya.   I can see Qaddafi saying that McCourt is one crazy motherf'er. 

arbfuldodger said:

grabarkewitz said:

Vinsandlosses said:

http://hardballtalk.nbcsports.com/2011/06/27/the-dodgers-file-for-bankruptcy/

first link

Frank looks to be playing a game that could bite him on the ass.   His financing plan is nebulous, at best and if Fox sticks to their statement that they will not assist Frank in this endeavour it is much ado about nothing and could put the MLB in a touchy situation if the court orders the sale of the Dodgers.   Then, there is no way Mark Cuban can be excluded from the bidding and I have a feeling he may just be the highest bidder   There is a plus there, he has his own satellite channel, he is well funded and he has not said he won't bid.  

As for the DIP financing, that is iffy, at best.  Frank needs a "real" financing plan that is long range and not just to make this payroll.   Plus, I don't see the money guys letting Frank pay off his personal debts first as was his plan with the Fox monies.  I am very interested on the next move by the MLB.  I already think the courts will look at Frank's end run as nothing more than a man in quicksand grasping at a thin vine. 

I feel better reading your thoughts, I don't think I could handle Frank pulling this out of his anal orifice and keeping the team, talk about nuclear winter. Cockroaches of which I believe Frank is a sub-species of would survive but nothing else. The thought of him keeping the team would severely test my die-hardness and I don't want that.

I'll take that one step further, arby: I love my Dodgers.  Love, love, love my Dodgers.  BUT, if this appendage somehow manages to pull it off and keep the team, I might very well switch to red and become an Angels fan.

How about Marquis Grissom on the list of creditors?  ow could he still be owed over $2 million?  Even poor Vinnie is on the list.  Someone please take out McCourt.

beefchopper said:

How about Marquis Grissom on the list of creditors?  ow could he still be owed over $2 million?  Even poor Vinnie is on the list.  Someone please take out McCourt.

They mentioned that one on KTLA morning news:  If you owe Vin Scully money, you're cooked.  The fans will turn on that (and/or Nancy Bea).

It'll be a hollow victory for Frank if he were to pull this out, he'll be the only one at Our Lady watching.

Has there ben any comments from jamie? since the dodgers aren't officially all franks does he need her approval to take the team into bankruptcy? I have to imagine she becomes a player in all this and choose a side

Yo, grabs!  A nasty little thought just occurred to me:

If I read the filing corretfully all of "divisions" are included except the parking lot.

grabarkewitz said:

If I read the filing corretfully all of "divisions" are included except the parking lot.

Right, but could a prospective court-ordered sale dictate that it all be sold to one buyer, or can this bag of dirt run rampant?

Since the parking lots are not included in the filing, in a court ordered sell would these be excluded?

Man, this is such a sad saga for my Blue.  

UCSB07 said:

Has there ben any comments from jamie? since the dodgers aren't officially all franks does he need her approval to take the team into bankruptcy? I have to imagine she becomes a player in all this and choose a side

Molly Knight tweeted this...

Source: Jamie McCourt "exasperated" by bankruptcy filing. Wants team
sold and this all to end so everyone can move on. More on Espn.com..

Frank should make like me and be out of the country right now. Of course this would happen when I'm being charged by the MB for data but oh is this worth it! If Molly's statement is true, frank very well could have filed a bogus bk filing. She could very well contest whether her signature is required directly with the BK court and have the whole filing booted.

The thing I can't get out of my mind is that MCcourt will be able to fight this so long, that Kemp and Etheir will leave as FA after the 2012 season because a new owner hasn't been able to be in place by then. OK maybe they'll be traded before that, but as long as Ned is the GM, what can be expected to come back in those deals?

I don't know enough about bankrupcy law. Can players who are creditors declare free agency? We owe Zach Lee $3.4 million. Can he also walk away as a free agent, and sign a bonus with another team? My head is spinning.

petro said:

UCSB07 said:

Has there ben any comments from jamie? since the dodgers aren't officially all franks does he need her approval to take the team into bankruptcy? I have to imagine she becomes a player in all this and choose a side

Molly Knight tweeted this...

Source: Jamie McCourt "exasperated" by bankruptcy filing. Wants team
sold and this all to end so everyone can move on. More on Espn.com..

Jamie is the likely "fly in the ointment" for Frank.

I HIGHLY doubt Jamie wants to see the end game of a bankruptcy to end up anywhere else but a sale.

If she pushes back against this proposed auction for a competitive sale of the T.V. deal, then my guess is the judge can just go forward with an auction of the team.

An open auction would ensure Jamie that she get the max amount of return on the sale of the Dodgers.

I believe Jamie's biggest reason to want to sell the team was because Frank's actions were devaluing the Dodgers. I think its safe to say that Frank putting the Dodgers into bankruptcy is not doing much to help the team and does not signal an improvement of the financial standing of the team.

On the contrary, it looks like a desperation move and only further erodes the reputation of the franchise.

Honestly, I'm thinking this BK filing is nothing more than a PR move or a last-ditch effort to push Bud over the edge. I mean, McCourt listed his "creditors" and ONLY showed former/current players? HAHAHAH. Come on, dude, we know there is about $500M+ in debt chasing you! Where are those "creditors"?

We're not going to lose Zach Lee ... everyone calm down.

Shaikin writes in the Dodgers blog, McCourt asks bankruptcy judge for 'competitive sale process' of Dodgers' television rights

http://latimesblogs.latimes.com/dodgers/2011/06/fox-selig-dodgers-frank-mccourt-bankruptcy.html

CNBC reports there are between 5,000 and 10,000 creditors, but I would assume that includes all the season ticket holders who've already bought their tickets.

So McCourt's big argument here is that the team would be fine if he could only lock up a new tv deal giving him a giant up front payment on such despite the fact that he has 2 and half years remaining on his current deal.  Obviously this is a brilliant plan and I can so no way this leads to long term problems down the road, oh wait.

Can we get an online petition started and sent to the court stating that all the fans signing will refuse to support the team financially should this weasel remain owner

bob007hh said:

So McCourt's big argument here is that the team would be fine if he could only lock up a new tv deal giving him a giant up front payment on such despite the fact that he has 2 and half years remaining on his current deal.  Obviously this is a brilliant plan and I can so no way this leads to long term problems down the road, oh wait.

Can we get an online petition started and sent to the court stating that all the fans signing will refuse to support the team financially should this weasel remain owner

Interesting comment on the ESPN site, one poster stated that Hot Lips is claiming her signature - her standing in this is in question - has been either forged or copied.  I haven't found anything saying it is so, but if Frank played that card, he goes directly to jail and does not collect $150 million. 

petro said:

Shaikin writes in the Dodgers blog, McCourt asks bankruptcy judge for 'competitive sale process' of Dodgers' television rights

http://latimesblogs.latimes.com/dodgers/2011/06/fox-selig-dodgers-frank-mccourt-bankruptcy.html

Sounds like Fox told Frank tough nuggets.  They will not be a party to this farce.   Where was this competitive sale process talk some three months ago?  It has been reported that Comcast and Time Warner were more than willing to top the Fox bid. 

grabarkewitz said:

petro said:

Shaikin writes in the Dodgers blog, McCourt asks bankruptcy judge for 'competitive sale process' of Dodgers' television rights

http://latimesblogs.latimes.com/dodgers/2011/06/fox-selig-dodgers-frank-mccourt-bankruptcy.html

Sounds like Fox told Frank tough nuggets.  They will not be a party to this farce.   Where was this competitive sale process talk some three months ago?  It has been reported that Comcast and Time Warner were more than willing to top the Fox bid. 

Oh I am sure Time Warner would love to add a Dodgers' TV deal to their Lakers' deal.

The problem I think is going to be with Jamie. I doubt she wants to see the Dodgers take on another $150 mill in debt via JP Morgan while mounting even more legal fees with bankruptcy proceedings while trying to wait out an auction process for the TV rights of the Dodgers.

Which brings up another question: how can an auction of TV rights happen when Fox should have exclusive rights of negotiation for some time still, right? Or is Frank hoping the court will throw out Fox's rights to exclusive negotiation?

grabarkewitz said:

petro said:

Shaikin writes in the Dodgers blog, McCourt asks bankruptcy judge for 'competitive sale process' of Dodgers' television rights

http://latimesblogs.latimes.com/dodgers/2011/06/fox-selig-dodgers-frank-mccourt-bankruptcy.html

Sounds like Fox told Frank tough nuggets.  They will not be a party to this farce.   Where was this competitive sale process talk some three months ago?  It has been reported that Comcast and Time Warner were more than willing to top the Fox bid. 

Oh I am sure Time Warner would love to add a Dodgers' TV deal to their Lakers' deal.

The problem I think is going to be with Jamie. I doubt she wants to see the Dodgers take on another $150 mill in debt via JP Morgan while mounting even more legal fees with bankruptcy proceedings while trying to wait out an auction process for the TV rights of the Dodgers.

Which brings up another question: how can an auction of TV rights happen when Fox should have exclusive rights of negotiation for some time still, right? Or is Frank hoping the court will throw out Fox's rights to exclusive negotiation?

I think that's Frank's hope, that the Bankruptcy judge will toss out the agreement with Fox. Frank is asking an AWFUL lot here, and I seriously doubt he will be able to pull any of this off, especially without the approval of his wife OR the approval of MLB (who has the right to approve any media contract). It's last-ditch effort time and Frank is definitely swinging for the fences, but I hope it's just too late at this point.

Here's this article that basically says that first the Bankruptcy Judge has to OK his request, and indeed the MLB has to approve the 150M loan, which I just can't see happening:
http://sports.espn.go.com/mlb/columns/story?columnist=stark_jayson&id=6709087

Damn, Deuce, you beat me to it.   Stark actually weighs in with both side of the argument and Frank looks like he is on a fool's errand.    He will lose, that is for sure.   But he is using the last remaining asset he has, time.   Unfortunately, the MLB is not like Frank's other underfunded and mortal partners, they are scary rich and pretty much bulletproof.   Shortly, Frank will be taking a number when the Dodgers are sold and after the guvmint, banks, assorted lenders, his ex and other noted creditors get paid, Frank will get his ounce of flesh.   Don't spend in one place, Nimrod, you might want to eat tomorrow.  

DoppelgangBang said:

grabarkewitz said:

petro said:

Shaikin writes in the Dodgers blog, McCourt asks bankruptcy judge for 'competitive sale process' of Dodgers' television rights

http://latimesblogs.latimes.com/dodgers/2011/06/fox-selig-dodgers-frank-mccourt-bankruptcy.html

Sounds like Fox told Frank tough nuggets.  They will not be a party to this farce.   Where was this competitive sale process talk some three months ago?  It has been reported that Comcast and Time Warner were more than willing to top the Fox bid. 

Oh I am sure Time Warner would love to add a Dodgers' TV deal to their Lakers' deal.

The problem I think is going to be with Jamie. I doubt she wants to see the Dodgers take on another $150 mill in debt via JP Morgan while mounting even more legal fees with bankruptcy proceedings while trying to wait out an auction process for the TV rights of the Dodgers.

Which brings up another question: how can an auction of TV rights happen when Fox should have exclusive rights of negotiation for some time still, right? Or is Frank hoping the court will throw out Fox's rights to exclusive negotiation?

I think that's Frank's hope, that the Bankruptcy judge will toss out the agreement with Fox. Frank is asking an AWFUL lot here, and I seriously doubt he will be able to pull any of this off, especially without the approval of his wife OR the approval of MLB (who has the right to approve any media contract). It's last-ditch effort time and Frank is definitely swinging for the fences, but I hope it's just too late at this point.

...with a balsa-wood bat.   I have to wonder at what point Frank realizes that his only option is to take it like Tom Hicks and get out of the way of the train.   At least Hicks could see the guillotine blade coming down and flinch, I think Frank is hoping for a dull blade and only a grievous injury.   Lotsa luck, Stumpy.   Will be seeing you on the other side when you are pretty much roasting with the top notch villains like Hitler, Mussolini and "That Bitch". Kudos at reaching your goals, Nimrod. 

I hate this. I keep seeing media-hounds writing "this could take months or even years." Usually, when such statements are repeated in print, there's a lot of truth to them. And it would be ignorant to assume otherwise in this instance.

The saddest part about all this is I keep wanting to write, "I don't think I can take this if if lasts that long," and yet, I know that I WILL take it. Right up the tail pipe. For years. I'm that far gone in my Blue Fandom. I love my Dodgers, and even if I tried every God-forsaken angle to remove myself from caring about them, I know enough about me to know it can never be done.

Frank, you are BY FAR the most abhored fat cat weasel I've ever invested in. The best thing that could ever happen to you would be to lose it all and find another reason for living besides the all mighty dollar. Money has betrayed you, and you are now her slave. Due to your ignorance, and your whoring after her, she will now leave you poor, blind, and pitiful. You're a sad case, and you've taken the proud name of the Dodgers and her fans with you.

Spiritually, I pray something beautiful results from this mess you've created for yourself. But in the natural, just step away from my Dodgers and disappear. Now.

Hey Frank,

BluePastorKyle said:

I hate this. I keep seeing media-hounds writing "this could take months or even years." Usually, when such statements are repeated in print, there's a lot of truth to them. And it would be ignorant to assume otherwise in this instance.

The saddest part about all this is I keep wanting to write, "I don't think I can take this if if lasts that long," and yet, I know that I WILL take it. Right up the tail pipe. For years. I'm that far gone in my Blue Fandom. I love my Dodgers, and even if I tried every God-forsaken angle to remove myself from caring about them, I know enough about me to know it can never be done.

Frank, you are BY FAR the most abhored fat cat weasel I've ever invested in. The best thing that could ever happen to you would be to lose it all and find another reason for living besides the all mighty dollar. Money has betrayed you, and you are now her slave. Due to your ignorance, and your whoring after her, she will now leave you poor, blind, and pitiful. You're a sad case, and you've taken the proud name of the Dodgers and her fans with you.

Spiritually, I pray something beautiful results from this mess you've created for yourself. But in the natural, just step away from my Dodgers and disappear. Now.

Kyle, that was it in a nutshell.   All of us are invested in this team, but it is becoming a festering pocket of pus named Frank McCourt.   I do not think there is a cure for this son of a cockroach, but we have to hope that, in his own ignorance, he pushes too far and falls off of the cliff in poverty and despair. 

minndodger said:

Hey Frank,

Jesus loves you but everyone else thinks you are are putz.

Will Rogers hates Frank McCourt. 

grabarkewitz said:

minndodger said:

Hey Frank,

Jesus loves you but everyone else thinks you are are putz.

Will Rogers hates Frank McCourt. 

Mother Teresa once gave him the finger.

minndodger said:

grabarkewitz said:

minndodger said:

Hey Frank,

Jesus loves you but everyone else thinks you are are putz.

Will Rogers hates Frank McCourt. 

Mother Teresa once gave him the finger.

YES!  I THINK WE HAVE A WINNER!

minndodger said:

Hey Frank,

Jesus loves you but everyone else thinks you are are putz.

Saw that bumper sticker a few months ago - love it!!!

grabarkewitz said:

BluePastorKyle said:

I hate this. I keep seeing media-hounds writing "this could take months or even years." Usually, when such statements are repeated in print, there's a lot of truth to them. And it would be ignorant to assume otherwise in this instance.

The saddest part about all this is I keep wanting to write, "I don't think I can take this if if lasts that long," and yet, I know that I WILL take it. Right up the tail pipe. For years. I'm that far gone in my Blue Fandom. I love my Dodgers, and even if I tried every God-forsaken angle to remove myself from caring about them, I know enough about me to know it can never be done.

Frank, you are BY FAR the most abhored fat cat weasel I've ever invested in. The best thing that could ever happen to you would be to lose it all and find another reason for living besides the all mighty dollar. Money has betrayed you, and you are now her slave. Due to your ignorance, and your whoring after her, she will now leave you poor, blind, and pitiful. You're a sad case, and you've taken the proud name of the Dodgers and her fans with you.

Spiritually, I pray something beautiful results from this mess you've created for yourself. But in the natural, just step away from my Dodgers and disappear. Now.

Kyle, that was it in a nutshell.   All of us are invested in this team, but it is becoming a festering pocket of pus named Frank McCourt.   I do not think there is a cure for this son of a cockroach, but we have to hope that, in his own ignorance, he pushes too far and falls off of the cliff in poverty and despair. 

And while I understand that he'll get his "pound of flesh," he has shown that he has no idea what to do with money once he thinks he has it. He spends other people's money on things for himself. But just like China will require from America's gov't some day soon, the piper has come calling for him. I can't imagine that pound of flesh will result in anything lasting, except to perhaps pay off debts we haven't even heard about yet.

You just know he is going to write a "tell book" on how he was wronged.  Frankie will write the book because he loves the spotlight and he thinks he will be able to make a buck. 

Ghandi loaned 5 bucks to Frank once. when he failed to repay Ghandi showed remarkable aim and dropkicked McCourt in the nads.

Donald Sterling loves McCourt. Keeps him under the radar.