Whoa. Everyone’s least favorite troubled baseball team, the Los Angeles Dodgers, just filed for bankruptcy protection, as Deal Journal colleague Matt Futterman is reporting.
CLICK HERE to read the Dodgers bankruptcy court filing.
The best part of the filing is the list of people to whom the Dodgers owe money — including retired slugger Manny Ramirez. The Dodgers say they owe Ramirez $21 million. Matt Kemp, who is owed $216,944.Vin Scully, the beloved longtime baseball announcer, is owed about $153,000, according to the bankruptcy filing.
It's a huge development in the saga of the troubled team.
The bare bones document — we should have more in the next day or so — estimates the Dodgers assets at $500 million to $1 billion, and lists its estimated liabilities at $0 to $50,000. As Futterman is reporting, the Dodgers are filing for Chapter 11 bankruptcy protection to keep the team out of the hands of Major League Baseball.
http://blogs.wsj.com/deals/2011/06/27/read-the-los-angeles-dodgers-file-for-bankruptcy/
