The Los Angeles Dodgers today asked the judge in their bankruptcy case to let them auction off their local TV rights for the 2014 season and beyond. The team said the sports rights market was “vibrant” now and they wanted to try to cut a deal “to avoid any risk of deterioration in value.” Prior to their bankruptcy filing, Major League Baseball Commissioner Bud Selig rejected owner Frank McCourt’s deal with Fox Sports’ Prime Ticket. That blocked a $385M upfront payment on the proposed deal, worth an estimated $3B. Fox
still has an exclusive negotiating period with the team set for Oct. 15-Nov. 30 of next year, but the Dodgers maintain the bankruptcy negates it. In its filing in Delaware federal court, the team asked that its 45-day negotiating term with Fox be moved up to this year, followed by 60 days of open bidding. Time Warner Cable, Dish Network and DirecTV might be bidders, the team’s filing said. Any deal would be subject to MLB’s approval. A hearing is set for Oct. 12.


SELL THE TEAM ALREADY YOU FAILURE.
Why on earth would a court punish Fox by taking away their contractual rights to exclusive negotiations on the TV rights for the Dodgers simply because the Dodgers files for bankruptcy? Fox hasn’t done anything wrong or violated the terms of their deal with the Dodgers,
I hope the bankruptcy court judge puts this idiotic request down immediately.
This is the essence of bankruptcy law. Contracts which may impede the debtor from maximizing value for the creditors are routinely set aside. In this case, McCourt is arguing that he can make his creditors whole by removing most of the conditions of the Fox deal and forcing the auction of the media rights.
Just because the McCourts are greedy idiots should hardly penalize either Fox or frankly, the Dodger team itself. Selig should allow rights to be sold, keep the team away from the McCourts (U both suck and I hope U never buy anything of significance again – keep ur stupid houses and jewels).
There is no person more hated in Los Angeles than Frank McCourt. The man is despicable and I feel that Bud Selig’s lack of action on the team ownership situation and going to leave Frank with the team.
The McCourts are only in it for themselves and the courts seriously need to order the team to be sold to the bidder that is actually going to maintain some serious stability with this franchise and the stadium and such. Problem is, will Professor Kelp, aka Selig, allow this to happen as I heard mcCourt bought things separate with the franchise, ballpark, parking lots, etc.
Just get rid of the McCourts once and for all and make this team feasible and relevant with an owner(s) that actually will give a damn, such as the O’Malleys or whomever else. Have people looked at Dodger Stadium attendance recently, especially against this Pirates series going on right now? PITIFUL!!!!
The reason the attendance is down is because the Dodgers were never really a playoff team this year, because of all the off the field antics. At the same time, two wrongs don’t make a right. McCort should’ve been fully vetted before he was allowed to buy the team in the first place, and it falls to the MLB now to live with that mistake.
There’s no good solution here.
I thank Buddha every day that John Henry outbid him for the Red Sox
Whether or not opinion views Mr. Mccourt as an idiot or not, he is entitled to all of the protections inherent within the provisions of the bankruptcy code. Corporations have utilized the court to restructure themselves, as well as their debt since the inception of the court. The fact that this particular petition concerns a sports team should have no bearing on whether or not the Mccourt’s are able to restructure the team as they see fit. The villain here is Bud Selig, who is actually violating the property rights of Mr. Mccourt for Selig’s own perceived interests under the rubric of commissioner of MLB.