Setting the stage for what could be Frank McCourt’s last stand to retain the Los Angeles Dodgers next week, MLB informed Judge Kevin Gross that the owner of the club “looted” $189.16 million from the club. A statement by the Dodgers said that the “inflammatory allegations are not supported by the evidence” and that they “look forward to the opportunity to show the truth next week.”
The stakes have ramped up further as an attorney for Bryan Stow, the Giants fan who was beat so severely is was left in a coma, is represented as one of the creditors in the case. His attorney, who will be representing him at the hearing that is expected to last most of next week, said that Stow’s medical bills could reach $50 million.
The US Trustee overseeing the case also added two fans that represent season-ticket holders in the case. Both the fans, as well as FOX Sports have asked Judge Gross to deny the request to auction off the Dodgers media rights, something that Commissioner Selig and the league have said is “dead on arrival.” The auction is key to allowing McCourt the ability to retain the club.
Attorneys for McCourt say that Selig is treating McCourt differently and is doing nothing more than trying to push the beleaguered owner out so that the club can be sold out from underneath him. McCourt is under pressure on multiple fronts. While his former wife Jamie has given Frank sole control of ownership, their divorce settlement stipulates that he pay $130 million by the coming Spring in exchange.
The value of the Dodgers in a sale could be as high as $1.5 billion when accounting for Dodgers Stadium, land around the stadium, the club itself, and other assets tied to the club.
Analysis: Frank McCourt's Blood-Bath with Major League Baseball
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.. 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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