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Dodgers Bankrupt

June 27, 2011 By: Katchop Category: MLB

The Los Angeles Dodgers have filed for bankruptcy in Delaware.

The Los Angeles Dodgers have filed Chapter 11.

The Los Angeles Dodgers have filed Chapter 11.

From The Huffington Post

The Los Angeles Dodgers filed for bankruptcy protection in a Delaware court Monday, blaming Major League Baseball for refusing to approve a multibillion-dollar TV deal that owner Frank McCourt was counting on to keep the troubled team afloat.

The Chapter 11 financing permits the Dodgers to use $150 million for daily operations and buys time for the team to seek a media deal and ensure the team’s long-term financial stability, the Dodgers said in a news release. A judge would need to approve use of the money and a hearing is set for Tuesday.

“There will be no disruption to the Dodgers day-to-day business, the baseball team, or to the Dodger fans,” the statement said.

Original Photo Boston.com

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