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Los Angeles Dodgers File For Bankruptcy

The Los Angeles Dodgers filed for Chapter 11 bankruptcy protection in a Delaware court Monday, the latest setback this year for the baseball organization.

In the filing, the Dodgers cite MLB Commissioner Bud Selig‘s decision not to approve a multibillion-dollar TV deal with Fox last week. By filing for Chapter 11, Frank McCourt is allowed to use $150 million to finance the team, which means he could meet payroll at the end of this week.

“He’s [Bud Selig] turned his back on the Dodgers, treated us differently, and forced us to the point we find ourselves in today,” McCourt said in a statement. “I simply cannot allow the Commissioner to knowingly and intentionally be in a position to expose the Dodgers to financial risk any longer. It is my hope that the Chapter 11 process will create a fair and constructive environment to get done what we couldn’t achieve with the Commissioner directly.”

Thirteen of the creditors listed in bankruptcy filing are owed over $1 million, including Manny Ramirez ($21 million), Andruw Jones ($11 million) and current starter Hiroki Kuroda ($4.5 million).

 

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