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Dodgers' Proposed Financing Plan Strikes Out With Judge
In the throes of bankruptcy proceedings, the Los Angeles Dodgers have been delivered a big old strike out, as a Delaware judge rejects their proposed $150 million financing plan.
The decision was part of an eight-page document released by the judge following two days of hearings about the Dodgers' plan and Major League Baseball's plan.
Dodgers owner Frank McCourt rejected the MLB plan, and says he believes it is a mechanism for the MLB to take control of the team and corner them into selling. However, today's decision means it is likely the Dodgers will have to accept MLB's plan..
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Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive before year-end will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
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