köpa Precose på internet köpa Fincar i danmark vill köpa Emsam skaffa recept till Skelaxin köpa Glycomet i barcelona köpa generic Shuddha köpa Erythromycin säkert online kan man köpa Exelon receptfritt köpa Xenical apoteket pris på Protonix apoteket flytande Rocaltrol dosering generisk Lotensin sverige Benadryl säker leverans köpa Tulasi på teneriffa är det farligt att köpa Paxil på nätet köpa Xenical på postförskott Styplon med snabb leverans Ditropan 100 billig köpa Evista på nätet billigt Imdur op recept köpa Prednisolone sverige Imdur köpa köpa billiga Himcolin dosering Gasex k Zyvox dos urinvägsinfektion köpa Proventil flashback 2015 Detrol oral lösning dosering köpa Cabgolin i thailand köpa Fertomid i frankrike köpa Xenical postförskott skaffa recept Aleve för hög dos Malegra köpa Micronase i kroatien pris på Promethazine i sverige Erythromycin med snabb leverans viagra Ethionamide köpa köpa Sominex i england skaffa recept till Lithium lagligt att köpa Tulasi köpa Lopid online sverige Luvox dosering första gången Ginseng kapslar pris köpa Charboleps 400 mg köpa Ponstel online lagligt olagligt att köpa Entocort Evista dosering urinvägsinfektion Cephalexin dödlig dos Omnicef 100 billig lagligt beställa Atrovent köpa Zocor i phuket bästa stället att köpa Clomid på är det lagligt köpa Speman på nätet beställa Paroxetine england beställa hem Isoptin köpa Temovate online flashback köpa Biaxin rhodos köpa Ciplox duo skaffa recept till Levothroid kan man köpa Kamagra thailand pris Tretinoin apotek hjärtat köpa Singulair i estland köpa Tadapox över disk köpa Mestinon kräm vart kan jag köpa Roxithromycin hur få recept på Yasmin dosering Strattera till hund köpa Clindamycin på cypern beställa container Avapro köpa Menosan i italien kan man köpa Proscar på mallorca beställa blå Cymbalta eljo Desyrel uttag pris Tadapox sverige snabb leverans Compazine shampoo köpa Zyban vet dosering i vilka länder kan man köpa Aldara receptfritt apoteket Flagyl ER gel pris köpa Big Appeal på kanarieöarna är det olagligt att köpa Trazodone på nätet köpa Prilosec i kroatien försäljning av Metformin kan man köpa Detrol i tyskland beställa Viagra på nätet flashback beställa Calcium Carbonate på internet vart kan man köpa Buspar online lagligt att köpa Zofran beställa Benzac för kvinnor köpa Strattera flashback beställa Avalide till sverige köpa Atorlip-10 billig kan man köpa Benadryl i tyskland Vytorin lägre pris Zyloprim beställa container beställa Voveran utomlands flytande Prevacid dosering Aleve köpa sverige Diltiazem köpa jord köpa Actos snabbt köpa Mircette oral jelly Methotrexate strömbrytare pris Tretinoin uttag pris köpa Motrin på mallorca köpa Furosemide kroatien kan man köpa Stromectol i grekland Silvitra hur stor dos Luvox att köpa Lasix gel recept lagligt att beställa Ampicillin köpa Suhagra i apoteket Arava op recept Lamisil pris på apoteket kan man köpa Speman i prag köpa Minomycin butik vilka länder kan man köpa Doxazosin receptfritt kan man köpa Bactrim i tyskland jag vill köpa FML Forte vad är generisk Rogaine 2 beställa Cytotec till sverige skaffa recept Trial Erection packs FML Forte köpa Acivir köpa flashback Topamax dos migrän beställa Alavert från thailand köpa Zaditor gran canaria billig Phexin snabb leverans köpa Lotrisone i sverige Clindamycin pulver köpa olagligt att beställa Uroxatral köpa Slim Tea i danmark köpa Ayurslim utomlands vågar man köpa Purim på nätet Metoclopramide beställa container i vilka länder kan man köpa Ginseng receptfritt beställa Micronase pulver lagligt att köpa NPXL sänkt pris Altace snabb leverans av Trandate hyra container Septilin pris Zaditor online utan recept är det säkert att köpa Calcium Carbonate på nätet köpa billiga Clindamycin är det lagligt att köpa Antivert på nätet var köpa Coumadin på nätet hur ska man köpa Big Appeal pris Propranolol turkiet pris på Liv 52 sverige beställa Lipothin på nätet köpa Beconase AQ alanya Keftab vilken dos köpa eljo Zantac hur ska man köpa Dostinex köpa Lopressor säkert online vem vill köpa Urispas bra ställe o köpa Aricept köpa Levothroid utan recept köpa Indinavir för kvinnor köpa Singulair i tallinn bästa stället att köpa Nolvadex på pris på Zyrtec i turkiet Provera nervositet dos köpa Fosamax barcelona köpa billigt Aristocort Antabuse dosering vuxna Torsemide och träning dosering i vilka länder kan man köpa Procardia receptfritt eljo Purim dimmer pris var beställa Arava vart kan man köpa Lasix köpa Shuddha usa Betapace strömbrytare pris kan man köpa Lisinopril i usa bästa pris Diclofenac beställa Alesse på nätet flashback dödlig dos av Ranitidine köpa eljo Lariam köpa Viramune tallinn var kan man köpa Precose beställa Zocor till sverige köpa blå Sinemet generisk Premarin sverige kan man köpa Dulcolax receptfritt i danmark Colchicine på nätet utan recept funkar generisk Anafranil köpa Periactin i estland generisk Dilantin i sverige köpa Cytotec säkert köpa Prilosec tallinn kan man köpa Avodart på ica köpa Cozaar online flashback köpa Forzest kroatien köpa Deltasone rhodos pris Shuddha turkiet Naltrexone dosering migrän bra ställe att köpa Claritin skaffa recept Sinequan Methotrexate dosering sömn är det lagligt att köpa Reglan på nätet hyra container Lariam pris pris Astelin sverige vart kan man köpa Lisinopril online köpa Accutane i ungern köpa Voltaren online lagligt vart kan man beställa Prednisone vart kan man köpa Prednisone våga köpa Lipitor på nätet vad är generisk Yasmin köpa Skelaxin sverige flashback köpa Zyprexa spanien köpa Pletal 100mg Himcocid dosering ångest Slim Tea liniment pris Antabuse strömbrytare pris vart ska man köpa Keppra pris Keflex på apoteket köpa Ditropan på apotek Top Avana hög dos beställa Pristiq lagligt Micronase vet dosering i vilka länder kan man köpa Cytotec receptfritt Big Appeal gel på recept kan man köpa Tamoxifen i thailand köpa Cyklokapron från sverige Bactroban oral jelly billig köpa Nexium på nätet olagligt eljo Phenergan bästa pris är det farligt att köpa Yasmin på nätet beställa Motrin inrikes köpa Cafergot oslo köpa Cefixime internet köpa Suhagra i barcelona var kan man köpa Aldara duo kan man köpa Metoclopramide på apoteket köpa Cipro på nätet flashback var beställa Nimotop säker sida att köpa Abilify köpa Triamcinolone stockholm skaffa recept till Differin köpa Toprol sverige 2012 vart kan jag köpa Tetracycline olagligt att beställa Chloromycetin på nätet Clonidine att köpa för hög dos Himplasia köpa Prazosin tyskland kan man köpa Zanaflex på apoteket i sverige Amitriptyline dos urinvägsinfektion beställa Rizact på nätet lagligt Furosemide plåster pris Sildalis dosering halsfluss var kan man köpa äkta Himcocid Colospa uttag pris köpa Arcoxia kroatien apoteket Valtrex gel pris köpa jord Xalatan Trazodone migrän dosering Lioresal dosering sömn Cystone hög dos kan man köpa Betnovate på teneriffa köpa Combivent 2013 kan man köpa Imitrex i grekland vad kostar Evecare med recept köpa Naprosyn i malmö Femara pfizer köpa Zofran dosering till katt Albendazole pris gatan skillnad mellan generisk Yasmin vart kan jag köpa Kemadrin köpa Rosuvastatin på gatan köpa Finpecia på postförskott Lipothin duo leverans eljo NPXL pris köpa Minomycin säkert online köpa Hyzaar patong köpa Plendil snabbt lagligt att beställa Mircette köpa Plaquenil i tyskland svårt att få recept på Minocin Evista säker leverans Styplon köpa online köpa Suprax i danmark köpa Ponstel i helsingborg beställa hem Hydrea hur köpa Betnovate bästa pris Augmentin var köper man Promethazine utan recept köpa Keflex i tallin köpa Clindamycin över disk försäljning av Celadrin rekommenderad dos Proscar Actoplus vägguttag pris vågar man köpa Duetact på nätet köpa Kamagra i stockholm köpa billiga Doxazosin Propranolol hög dos Tretinoin dos urinvägsinfektion beställa container Meclizine köpa Albendazole nätet köpa Seroquel Lariam pris på gatan köpa Big Appeal på nätet lagligt kan man köpa Actos receptfritt på apoteket köpa Roxithromycin turkiet köpa Cialis original köpa Entocort butik köpa Tricor i filippinerna jag vill köpa Levitra dödlig dos av Yasmin V-gel billig lägre pris på Proventil köpa Sinequan över disk hur får man Pyridium på recept kan man köpa Reglan i frankrike var köpa äkta Aleve köpa Betnovate på nätet köpa Hydrea i tallin fungerar generisk Sarafem Neurontin köpa jord köpa Endep för män köpa Big Appeal kina köpa Penegra i london generisk Cafergot sverige beställa Protonix till sverige köpa laglig Noroxin Urispas dosering sömn köpa Omnicef mot postförskott beställa Purim från thailand kan man beställa Trazodone köpa Chloramphenicol duo Finast strömställare pris eljo Celexa uttag pris Zofran duo leverans köpa Innopran 20mg hur beställa Imdur köpa Noroxin från turkiet köpa Arcoxia i bangkok dödlig dos av Nicotinell köpa Silvitra på apoteket köpa Motrin på nätet flashback Tricor dosering föredrag Liv 52 migrän dosering var köpa Liponexol billigt Naltrexone online utan recept är det olagligt att beställa Zithromax kan man köpa Kamagra i prag köpa Amantadine i frankrike kan man beställa Prandin dosering Malegra k Flomax recept sverige kan man köpa Finast på nätet pris på Aldara sverige kan man köpa Clonidine utan recept köpa generisk Prazosin i sverige var ska man köpa Allopurinol kan man köpa Big Appeal i frankrike beställa Detrol till sverige Biaxin utan recept spanien var kan man köpa Accutane snabb leverans av Atorlip-10 bästa stället att köpa Aldara var köper man Rosuvastatin utan recept köpa Zaditor på nätet säkert Suprax hög dos säkert ställe att köpa Lincocin kan man köpa Decadron på ica apoteket hjärtat Nasonex pris är det farligt att köpa Prinivil på nätet kan man köpa Glucovance på nätet är det olagligt att köpa Fosamax Lamictal dosering vuxen Zyban till katt dosering Himcocid plåster pris eljo Amoxil dimmer pris köpa Suhagra kroatien Abilify var köpa kan man köpa Zenegra receptfritt på apoteket behöver man recept för Norvasc var köpa Tretinoin på nätet köpa Eurax i grekland kan man köpa Atorlip-5 i grekland köpa Lotensin malmö billig Cefixime på nätet är det farligt att köpa Amitriptyline på nätet Elavil op recept bra ställe o köpa Amaryl Cholestoplex dos första gången beställa Vytorin till sverige Celebrex dosering till katt köpa Prinivil i vietnam köpa Zestoretic kina köpa Cystone mot postförskott hur ska man köpa Aristocort bästa pris Digoxin pris Zestoretic apotek hjärtat beställa Imuran flashback var kan man köpa Terramycin säkert flytande Zithromax dosering Differin lägre pris hur kan jag köpa Femcare Yougara gel på recept var beställa Sildalis beställa billig Cefixime billig Lariam sverige köpa Paroxetine i lettland var köper man Shatavari utan recept Rosuvastatin bästa pris Metformin till katt dosering generisk Fosamax snabb leverans Cefadroxil usa köpa Atarax pris apotek sverige köpa Coreg sverige 2012 Myambutol pris i sverige eljo Triamterene bästa pris behöver man recept för Imitrex Probalan dos första gången var kan man köpa Trileptal receptfritt Trental dos första gången köpa generisk Diltiazem kan man köpa Atorlip-5 thailand köpa Avodart rhodos köpa Trimox på gran canaria köpa Probalan i helsingborg vart kan jag köpa Pilex Keflex för kvinnor pris beställa Moduretic för kvinnor köpa Trial Erection packs tyskland köpa Buspar på rhodos billig Flagyl ER sverige Proventil i sverige utan recept köpa jord Cephalexin är det lagligt att köpa Seroquel på nätet är det olagligt att köpa Furosemide köpa äkta Differin på nätet köpa Amantadine 10 mg fungerar generisk Voveran Lisinopril dosering rampfeber köpa Arcoxia på internet vad är generisk Prevacid Phexin var köpa köpa Ditropan i tyskland köpa Prednisolone i estland Paxil köpa flashback Diflucan köpa online lägsta pris Silvitra Levlen snabbast leverans köpa Citalopram på nätet säkert köpa jord Plendil Shallaki hög dos kan man köpa Estrace i kroatien Skelaxin köpa vart kan man köpa Ophthacare var köpa Rogaine 5 billigt Naprosyn tabletter pris sverige Omnicef liniment pris köpa Shatavari kroatien köpa Erexor på faktura hyra container Astelin pris köpa Dutas köpenhamn apoteket Synthroid gel pris köpa äkta Danazol beställa blå Calcium Carbonate generisk Benicar biverkningar beställa hem Bestina köpa Lanoxin postförskott köpa Famvir sverige beställa container Tegretol beställa hem Tofranil köpa generisk Tulasi i sverige köpa Bonnispaz i riga köpa Premarin online lagligt köpa Aygestin inrikes Sarafem kapslar pris köpa Ditropan på apoteket Cyklokapron sverige snabb leverans vem vill köpa Calcium Carbonate Copegus pris sverige vill köpa Cystone snabb leverans av Duphalac Brahmi bra pris Actoplus köpa apoteket pasteta od Lozol recept Plavix oral jelly billig recept för Atarax lagligt att beställa Finax Nimotop nervositet dosering var köpa Xenical köpa Probalan på cypern köpa Medrol i butik köpa Ashwagandha i stockholm köpa Tenormin flashback 2015 rekommenderad dos Diovan beställa Tricor från thailand var köper man Betapace utan recept köpa Cardura på gatan Atorlip-10 kräm köpa köpa Cefixime på faktura kan man köpa Lopressor på teneriffa beställa billig Benemid behövs recept för Avodart köpa Cephalexin flashback lägsta pris på Pilex köpa riktig Estrace
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MLB Club Sales
News and information about the sale of all or part of any of the 30 Major League Baseball clubs.

With Questions Lingering, Vote to Approve Sale of Astros to Jim Crane Delayed PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Monday, 15 August 2011 14:36

UPDATED: Added league statement


The scheduled vote to approve the sale of the Houston Astros from Dayton McLane to Jim Crane has been delayed, according to a report by Richard Justice of the Houston Chronicle and confirmed by league sources to BizofBaseball.com. The vote is being delayed to conduct further due-diligence – even after doing so for 3 months prior – on Crane. According to the league, the feeling is that currently there is not sufficient support to conduct a vote of the league’s 29 other owners to approve Crane. It is not known whether there is enough concern to prevent Crane from being approved in the sale, period, even after further due-diligence is conducted.

The league released a statement reading, “The standard due diligence that must be completed before any transaction of this magnitude can close remains ongoing. Because that procedure is continuing, it is not expected that the proposed sale of the Astros will go to the approval process at this week’s owners meetings. Major League Baseball will continue to work as expeditiously as possible to complete the process.”

The league would not say whether Crane’s company, Eagle Global Logistics prior dealings with Equal Employment Opportunity Commissioner in 1997, or war profiteering during the Iraq War continues to play a part. After stories surfaced here on BizofBaseball.com, Forbes, and the New York Times, it was reported that Crane diversified his ownership group with more minorities. Former Houston Rocket great Clyde Drexler has been rumored to be part of Crane’s group.

SEE Why Jim Crane Could Become Baseball’s Most Controversial Owner

Sources did say that the financial structure of the deal between Crane and Drayton McLane was “not something to focus on.” Crane’s deal would be leveraged and put the club in violation of the league’s debt service rules, but unlike Dodgers owner Frank McCourt, who had a leveraged purchase, Crane has a considerable amount of liquid capital at his disposal.

As early as two weeks ago, sources to The Biz of Baseball felt confident that a vote to approve Crane would take place.

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Maury BrownMaury 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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Dodger Losses Projected to be $27M for This Year, Down $42M Since 2009 PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Saturday, 13 August 2011 11:38

Based on final financial numbers submitted to Major League Baseball last year, the Los Angeles Dodgers are on pace to lose $27 million, according to league executives. The losses this season could be worse, should declines continue through the second half of August and through September.

The losses are tied to the decline in attendance. Ticket sales, parking revenue, concessions, and other related revenues are all attributed to the decline. Television revenues will remain flat compared to last year. Frank McCourt is seeking to auction off future television rights through a Delaware bankruptcy court. The action is being requested through the courts as MLB rejected an extension from Dodgers with FOX. That deal would have seen $385 million in up-front payments, but the league scoffed at the deal as just $235 million would have gone to the Dodgers. The rest of the balance would have gone to McCourt to pay for legal bills associated to his divorce from former wife, Jamie.

Also, Bill Shaikin of the LA Times is reporting today that based on court documents that Dodgers are likely to lose $42 million since 2009. The year prior, Manny Ramirez, a huge marketing draw, arrived in the second half of the season. The team went on to win the NL West and NLCS that season and in 2009.

Other information from the court documents filed Friday, according to Shaikin:

  • The Dodgers owe severance payments of $1.025 million to former executive vice president Charles Steinberg and $254,800 to former president Dennis Mannion.
  • The Dodgers paid $324,546 last April to Kroll, the consulting firm that employs former Los Angeles Police Department Chief William Bratton. In the wake of the Bryan Stow beating, the Dodgers retained Bratton to lead a Kroll team to develop a long-term "security blueprint" for Dodger Stadium and the surrounding parking lots.
  • The Dodgers Dream Foundation, a club charity, was penalized $4,080 by the Internal Revenue Service. The Dodgers have reimbursed $361,432 to the charity to resolve an investigation by the state attorney general.
  • The Dodgers spent $5,630 on "Boston Red Sox tickets for McCourt family and guests." The filing does not specify the games for which tickets were purchased, but the payment was made in June 2010, a month in which the Dodgers played the Red Sox in Fenway Park.

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Maury BrownMaury 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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Vote to Approve Jim Crane as New Owner of Astros Likely Part of Upcoming Owners Meetings PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Tuesday, 02 August 2011 08:39

Barring an unforeseen hitch, MLB’s owners will be discussing and putting to vote the sale of the Houston Astros to Jim Crane as part of the upcoming quarterly MLB owners meetings set for August 17-18, according to league sources.

The sale has been held up as the league has addressed the bankruptcy of the Los Angeles Dodgers and looked further into Crane’s background (see Why Jim Crane Could Become Baseball’s Most Controversial Owner) and the financial structure of the $680 million deal which will put Crane in violation of MLB’s debt service rule.

The sale transfer must be approved by 75 percent of the league’s thirty owners. Rarely do votes take place unless Commissioner Selig is aware of their positive outcome.


Maury BrownMaury 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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Dodgers Bankruptcy Hearing Reveals McCourt Putting Club in Deeper Debt PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Wednesday, 20 July 2011 14:02

A hearing in a Delaware bankruptcy courtroom today will seek to determine whether a hedge fund or Major League Baseball will fund all or part of the remaining balance of $150 million in debtor in possession (DIP) financing for the Dodgers as it weaves through the process.

As the hearing has unfolds before Judge Kevin Gross, some details are emerging:

  • Frank McCourt refinanced a $67 million loan for Blue Land Co. an entity McCourt has created, and pays $14 million in year in rent to – ostensibly moving money from one hand to the other. Initially, Sovereign Bank declined the refinance, but later agreed to at higher fees and interest.
  • McCourt’s lawyer has argued that the difference between the loan from hedge fund Highbridge and the one MLB is offering, is really $6.5 million, not $15 million as the league has said, when other bookkeeping is factored in.
  • McCourt’s lawyer said that the league is ill-equipped to handle a loan of the size needed for DIP financing, yet in a deposition, Exec. VP of Administration for MLB, John McHale, Jr. said the league had $400 million in Central Fund money with which to work from, more than enough to satisfy the DIP funding.
  • On cross-examination, Jeff Ingram, the Dodgers Vice-Chairman admits that Highbridge has never provided DIP financing to anyone in the past.
  • Ingram also admits that the loan from MLB would actually be $14 million cheaper than the one from Highbridge.
  • The Dodgers are still holding firm that they believe that money aside, the true endgame by MLB is to take control of the club, and that they would rather use Highbridge DIP financing than MLB’s as they believe it will offer more control by the league as a threat to remove McCourt.
  • If the loan from MLB is approved, McCourt is personally on the hook for $5.25 million. If the loan goes to Highbridge, just the fees and interest would apply.

Follow @EricFisherSBJ, @BillShaikin, and @Boomskie on Twitter for a running account of the hearing as it plays out.

The hearing is continuing. Updates as they become available.

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Maury BrownMaury 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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New York Times Sells $117 million Stake in Boston Red Sox PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Friday, 01 July 2011 15:32

The Red SoxThe New York Times has sold off a considerable share of Fenway Sports Group, the venture company that owns the Boston Red Sox, for $117 million to three separate undisclosed buyers, according to the Boston Globe.

According to the report, the Times Co. sold off 390 units, according to a filing with securities regulators, and has reduced its stake to 7.3 percent of Fenway Sports Group.

The Times purchased a 17 percent stake in the then New England Sports Ventures for $75 million in 2002. According to filings, the Times Co. will get a pre-tax gain of approximately $64 million in the deal.

The Times officially put the 17 percent stake in the club for sale in Dec. of 2009.

Fenway Sports Group includes English Premier League club Liverpool FC; approx. 80 percent of regional sports network NESN; and 50 percent of Roush Fenway Racing.


Maury BrownMaury 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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Los Angeles Dodgers Payroll Checks Bounce PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Thursday, 30 June 2011 21:42

The sad state of affairs under the Frank McCourt ownership continues, as celebrity website TMZ is reporting that at least one Dodger employee had their $497.54 payroll check bounce. The report, replete with an image of the check in question, shows Frank McCourt’s signature on the line.

With McCourt filing Chapter 11 bankruptcy protection, and a judge allowing McCourt to use an initial debtor in possession financing amount of $60 million, the club said told the employees that new checks have been reissued and will not bounce. Of course, who knows whether they picked up any overdraft fees that may have hit the poor souls’ bank accounts.

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Maury BrownMaury 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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Selig on Dodgers Chapter 11: "Action taken today by Mr. McCourt does nothing but inflict further harm to this historic franchise" PDF Print E-mail
MLB Club Sales
Written by Maury Brown   
Monday, 27 June 2011 16:03

DodgersCommissioner Selig issued the following statement today regarding the Los Angeles Dodgers filing for Chapter 11 Bankruptcy:

“The Commissioner’s Office has spent the better part of one year working with Mr. McCourt and his representatives on the financial situation of the Los Angeles Dodgers, which was caused by Mr. McCourt’s excessive debt and his diversion of club assets for his own personal needs. We have consistently communicated to Mr. McCourt that any potential solution to his problems that contemplates mortgaging the future of the Dodgers franchise to the long-term detriment of the club, its loyal fans and the game of Baseball would not be acceptable.

“My goal from the outset has been to ensure that the Dodgers are being operated properly now and will be guided appropriately in the future for their millions of fans. To date, the ideas and proposals that I have been asked to consider have not been consistent with the best interests of Baseball. The action taken today by Mr. McCourt does nothing but inflict further harm to this historic franchise.”

Source: Major League Baseball

Maury Brown will be on ESPN 710 in Los Angeles at 2:15pm PT to talk the latest on the Dodgers

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Los Angeles Dodgers File for Chapter 11 Bankruptcy Protection PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Monday, 27 June 2011 08:39

THIS IS BREAKING NEWS…

After months of being able to cobble together payroll for the Los Angeles Dodgers, Frank McCourt’s well has run dry. Unable to meet end-of-month payroll, and MLB on the verge of seizing the club, McCourt has filed for voluntary Chapter 11 bankruptcy protection.

The filing was done in response to Major League Baseball rejecting a multi-billion dollar television contract extension with FOX. The league rejected the deal that had $385 million in up-front money in the deal as over $170 million of it was going to be designated to legal fees and settlement of Frank McCourt's divorce from his estranged wife, Jamie.

The document (READ IT HERE), shows that the Dodgers are worth between $500,000 to $1 billion with liabilities only shown to be between $0 and $50,000.

Of the 40 unsecured creditors of the Dodgers listed, 28 are players.

The top 5 players shown to be owed compensation are:

  • Manny Ramirez: $20,992,086
  • Andruw Jones: $11,075,000
  • Hiroke Kuroda: $4,483,516
  • Rafeal Furcal: $3,752,275
  • Ted Lily: $3,423,077

It’s not just players that are showed to be creditors of the Dodgers. The White Sox are owed $3.5 million, Levy Restaurants are shown to be owed $588,322 in “trade debt”, Continental Airlines ($339,403 in trade debt), Bank of America is owed $316,243 in credit card debt, and in one of more embarrassing matters, Vin Scully is showed to be owed $152,778.

All of the Dodger shell companies are listed in the filing. They are, Los Angeles Dodgers Holding Company, LA Holdco LLC, LA Partners LLC, The McCourt-Broderick Limited Partnership, and the McCourt Company, Inc.

The Dodgers will mark the third club in five years to be placed into bankruptcy. Recently the Texas Rangers and Chicago Cubs also placed themselves into voluntary bankruptcy protection.


SPECIAL BUSINESS OF SPORTS NETWORK REPORTS:
The Labor Battle in the NFL. See BizOfFootball.com for details

Welcome to the 2011 Business of Sports Network Autism Challenge


Maury BrownMaury 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, as well as a contributor to FanGraphs and Forbes SportsMoney. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

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Mark Cuban Interested in Purchasing the "Mess" that is the Dodgers PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Wednesday, 22 June 2011 00:00

Mark CubanMark Cuban said on TMZ today that he has an interest in purchasing the Dodgers, but said, the clubs "such a mess," and really isn’t worth the investment.

Cuban said that if the club came up for sale that, "If they're fixable and the deal is right, then I'm very interested."

The key is “fixable” and “deal is right”.

Cuban may spend money, but it isn’t done foolishly. In fact, Cuban was keenly aware of the value that he saw the Texas Rangers were worth, and conceded to the group led by Chuck Greenberg and Nolan Ryan when they bid over that figure last year when the club was up for auction.

In other words, Cuban isn’t likely interested to take on an endeavor dripping with massive debt. He also isn’t likely to be interested unless the whole enchilada – Dodgers, Dodger Stadium, parking revenues, and land around the ballpark – are in the mix. With the way Frank McCourt broke off assets of the Dodgers, even if the league wrests control of the Dodgers away from McCourt, he could fight to retain the other pieces. For Cuban (and likely any other investor worth their salt), that won’t make for “deal is right.”

Still, Cuban’s stock has certainly risen after the Mavericks won the NBA Championship. As one MLB club exec said to me, “He showed a whole lot of class throughout the Game 6 celebration.”


SPECIAL BUSINESS OF SPORTS NETWORK REPORTS:
The Labor Battle in the NFL. See BizOfFootball.com for details

Welcome to the 2011 Business of Sports Network Autism Challenge


Maury BrownMaury 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, as well as a contributor to FanGraphs and Forbes SportsMoney. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

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MLB Rejects FOX Deal for Dodgers, McCourt Threatens Legal Actions PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Monday, 20 June 2011 19:46

It came as no surprise today that Commissioner Selig rejected the proposed FOX television contract extension with the Dodgers. The deal, which had $385 million in up-front money as part of a $3 billion deal, was tied to a divorce settlement between Frank and Jamie McCourt.

Commissioner Selig released a statement, saying:

“Pursuant to my authority as Commissioner, I have informed Los Angeles Dodgers owner Frank McCourt today in a detailed letter that I cannot approve the club’s proposed transaction with FOX. This decision was reached after a full and careful consideration of the terms of the proposed transaction and the club’s current circumstances. It is my conclusion that this proposed transaction with FOX would not be in the best interests of the Los Angeles Dodgers franchise, the game of Baseball and the millions of loyal fans of this historic club.

“Mr. McCourt has been provided with an expansive analysis of my reasons for rejecting this proposed transaction. Critically, the transaction is structured to facilitate the further diversion of Dodgers assets for the personal needs of Mr. McCourt. Given the magnitude of the transaction, such a diversion of assets would have the effect of mortgaging the future of the franchise to the long-term detriment of the club and its fans.

“As I have said before, we owe it to the legion of loyal Dodger fans to ensure that this club is being operated properly now and will be guided appropriately in the future. This transaction would not accomplish these goals.”

In a sign that Frank McCourt will most assuredly be suing MLB in order to allow the deal to go through, the Dodgers released a statement through McCourt’s lawyer, Steve Susman of the law firm Susman Godfrey:

“We are extremely disappointed with the Commissioner’s rejection of the proposed FOX transaction which would inject $235 million into the Los Angeles Dodgers.  As Commissioner Selig well knows, this transaction would make the Dodgers financially secure for the long term and one of the best capitalized teams in Major League Baseball.

“For  weeks Major League Baseball  has consistently made public pronouncements asserting that Jamie McCourt’s agreement of the Fox transaction also was  needed; that the Court adjudicating the McCourt divorce grant its approval of the transaction; and the Dodger organization provide all data requested by Major League Baseball to satisfy the so-called investigation ordered by  Commissioner Selig last April – the latter also being the excuse he gave at that time  for delaying his approval of the proposed FOX transaction.

“All the requirements for the Commissioner to approve the FOX transaction were put in place by last Friday: Frank and Jamie McCourt entered into an agreement based on the proposed transaction; the Court ordered, among other things, that the FOX transaction is “in the best interest of the Los Angeles Dodgers and should be consummated immediately;”and all information requested by Major League Baseball under its so-called investigation has been provided by the Dodgers.

“Commissioner Selig’s letter of rejection is not only a disappointment, but worse, is potentially destructive to the Los Angeles Dodgers, and Major League Baseball.  Accordingly, we plan to explore vigorously our options and remedies with respect to Commissioner Selig’s rejection of the proposed FOX transaction and our commitment to protect the long-term best interests of the Los Angeles Dodgers.”

The reason for the rejection lies within the Susman response: just $235 million of the $385 million in money fronted would go to the Dodgers. As highlighted in the proposed divorce settlement between Jamie and Frank McCourt reached last Friday that was contingent on the approval of the FOX extension.

In reading the settlement terms, out of that infusion of cash in the rejected FOX extension , each party would have received $5 million in attorneys’ fees and costs… each party would have received $5 million to use has he or she desires. From there, the approx. $235 million would have gone to the Dodgers, but the caveat was that it would have included repayment back to Frank to advance the Dodgers in 2011, a sum that was not to exceed $23.5 million. An additional $80 million was to be used to pay down indebtedness, and the remaining amount of approx. $50 million would be put into an account subject to McCourt’s orders.

As we wrote last week (see Divorce Settlement Shows Frank McCourt is Rearranging Deckchairs on the Titanic with the Dodgers):

Frank, you’re on the edge. The only thing saving you from losing the Dodgers is the FOX deal. There seems little reason for the league to approve it. It’s clearly needed to deal with a personal matter, not improve attendance at the ballpark or the team on the field.

Frank, you’re rearranging deckchairs on the Titanic now to meet payroll each month. There’s little hope MLB will be willing to let you do so with the FOX television extension.

That was then, and here we are now. On August 4, unless McCourt were to somehow wrangle the TV deal away from MLB, Judge Scott Gordon will likely order the Dodgers sold and the proceeds split between Frank and Jamie. Before then, it’s also likely Frank will be unable to make payroll (although he has somehow been able to reach payroll each of the last 2 months by taking cash advances on sponsorship deals. Eventually, McCourt will be bled dry, and MLB will seize the club.

As far as the chances of Frank winning in court by suing Commissioner Selig, consider this portion from MLB’s Constitution (bolding, author):

The Major League Clubs recognize that it is in the best interests of Baseball that all actions taken by the Commissioner under the authority of this Constitution, including, without limitation, Article II and this Article VI, be accepted and complied with by the Clubs, and that the Clubs not otherwise engage in any form of litigation between or among themselves or with any Major League Baseball entity, but resolve their differences pursuant to the provisions of this Constitution. In furtherance thereof, the Clubs (on their own behalf and including, without limitation, on behalf of their owners, officers, directors and employees) severally agree to be finally and unappealably bound by actions of the Commissioner and all other actions, decisions or interpretations taken or reached pursuant to the provisions of this Constitution and severally waive such right of recourse to the courts as would otherwise have existed in their favor.

To add to the passage in the ML Constitution there's this: Tom Hicks had a TV extension with FOX rejected by the league when the Rangers were falling into bankruptcy. The position of the league was the same: using money to improve the ballpark, or pour into player payroll is acceptable. Allowing money to come in via an extension to deal with personal issues of debt, is not. Frank McCourt, you aren't the first to be told no.


SPECIAL BUSINESS OF SPORTS NETWORK REPORTS:
The Labor Battle in the NFL. See BizOfFootball.com for details

Welcome to the 2011 Business of Sports Network Autism Challenge


Maury BrownMaury 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, as well as a contributor to FanGraphs and Forbes SportsMoney. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

Follow Maury Brown on Twitter Twitter

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