Dodgers just filed for bankruptcy.

[lisu]

Dodgers file for bankruptcy protection

Does that void all of the contracts they signed with players?

 

[Bob Loblaw]

Ugh.

 

[hockeyfights]

Re: Dodgers file for bankruptcy protection

Normally, the employees are in line to get paid after the secured creditors. Employees will be paid before the vendors or other unsecured creditors.

 

[lisu]

I think we posted at the same time!

 

[Jastermereel]

Re: Dodgers file for bankruptcy protection

I'll bet Manny Ramirez is having a coronary right about now.

 

[lisu]

Re: Dodgers file for bankruptcy protection

I'll bet Manny Ramirez is having a coronary right about now.

Haha, that's exactly who I was thinking of when I posted earlier!

 

[hoopster3977]

Will the Dodgers and MLB have to "finally" open their books? Due to the Anti-Trust exemption that MLB enjoys, they really don't have to. Does bankruptcy change this?

 

[hockeyfights]

Re: Dodgers file for bankruptcy protection

The current players still get paid post-petition because they're not ceasing operations, but yeah the Manny liabilities could be a pre-petition deal and they may try to pay as little of that as possible by pushing that down the list of unsecured creditors. We'll know for sure once they file their schedule summaries with their petition to the court.

 

[TNP777]

sickening

 

[hockeyfights]

Will the Dodgers and MLB have to "finally" open their books? Due to the Anti-Trust exemption that MLB enjoys, they really don't have to. Does bankruptcy change this?

I'm not sure how that's going to work. The bankruptcies I've worked in the past do require you to file monthly operating reports with the court. The reports show your P&L statement, balance sheet, cash flow schedule, etc. I'm not sure whether the anti-trust exemption still applies because creditors have the right to access this data. Will be interesting though. Maybe Manny will be forced to come out of retirement? :lol:

 

[sheetskout]

The difficult thing here is going to be coming up with a reason to somehow blame this on Obama.

 

[mburgin]

The difficult thing here is going to be coming up with a reason to somehow blame this on Obama.

but you know that everything is George Bush's fault right? even things going on now are all his fault. lol

 

[Jaypers]

Wonder what this means for their draft picks.

 

[bricewaynebisel]

Wonder what this means for their draft picks.

Even longer to sign, as the TIB is going to have to approve any and all spending I'd suppose.

 

[sheetskout]

The difficult thing here is going to be coming up with a reason to somehow blame this on Obama.

but you know that everything is George Bush's fault right? even things going on now are all his fault. lol

(Not to derail this thread, but they still kind of are.....)

 

[sheetskout]

Manny Ramirez named largest creditor in the Dodgers' Bankruptcy Filing.

http://www.marketwatch.com/story/los-an ... iteid=bnbh

 

[alabamalongsnake]

Will the Dodgers and MLB have to "finally" open their books? Due to the Anti-Trust exemption that MLB enjoys, they really don't have to. Does bankruptcy change this?

I'm not sure how that's going to work. The bankruptcies I've worked in the past do require you to file monthly operating reports with the court. The reports show your P&L statement, balance sheet, cash flow schedule, etc. I'm not sure whether the anti-trust exemption still applies because creditors have the right to access this data. Will be interesting though. Maybe Manny will be forced to come out of retirement? :lol:

Yeah depends how far they get in this work-out/reorganization and that's all it is. The Dodgers are not filing bankruptcy in the traditional sense meaning they sell of the assets and close shop. This is just a ploy by McCourt to try and stay relevant.

I would like to see the petition. I'll get on PACER later if I have a chance and check it out. Ultimately the Dodgers get sold to someone or an ownership team that baseball and Selig approve.

 

[sheetskout]

Wonder what this means for their draft picks.

I wonder what's going thru Zack Lee's head right now. He may have been the last, large over-slot signing for quite a while

 

[bricewaynebisel]

Will the Dodgers and MLB have to "finally" open their books? Due to the Anti-Trust exemption that MLB enjoys, they really don't have to. Does bankruptcy change this?

I'm not sure how that's going to work. The bankruptcies I've worked in the past do require you to file monthly operating reports with the court. The reports show your P&L statement, balance sheet, cash flow schedule, etc. I'm not sure whether the anti-trust exemption still applies because creditors have the right to access this data. Will be interesting though. Maybe Manny will be forced to come out of retirement? :lol:

Yeah depends how far they get in this work-out/reorganization and that's all it is. The Dodgers are not filing bankruptcy in the traditional sense meaning they sell of the assets and close shop. This is just a ploy by McCourt to try and stay relevant.

I would like to see the petition. I'll get on PACER later if I have a chance and check it out. Ultimately the Dodgers get sold to someone or an ownership team that baseball and Selig approve.

The creditor matrix would be a run read on this one.

 

[Big Mac McGwire]

Bud Selig needs to stop being a baby and let this guy buy any team.

He spends Money, Treats his players good and he will build the ball club up.



Dogder fans...........

place WS Trophy here....