LOS ANGELES, CA - FILE: (L-R) MLB Commissioner Bud Selig (L) talks with Los Angeles Dodgers owner Frank McCourt before Game Three of the National League Division Series between the New York Mets and the Dodgers on October 7, 2006 at Dodger Stadium in Los Angeles, California. Commissioner Bud Selig announced April 20, 2011 that the MLB will take control of the Los Angeles Dodgers, who have been beleaguered by financial problems since divorce proceedings began between McCourt and his wife, former Dodgers chief executive Jamie McCourt. (Photo by Stephen Dunn/Getty Images)
Bill Shaikin's latest at the LA Times blog (h/t to Hardball Talk) has some quotes from MLB's latest filing in the Los Angeles Dodgers bankruptcy case. The juicy part:
"Having siphoned off well over $100 million of club revenues and obviously unable to distinguish between his personal interests and those of the club, Frank McCourt has driven the Dodgers into a liquidity crisis so severe that, absent extraordinary measures, the club would be unable to make its payroll," the filing read. "Mr. McCourt attempted to use that looming disaster to leverage (MLB) into approving the sale of the club's broadcast rights to pay current expenses and to permit millions more to be misappropriated for personal use."
Oh, snap! McCourt just got served!
Seriously, though, what I have to wonder is what McCourt's endgame is here. Let's say he succeeds, through the bankruptcy courts, at getting his deal approved and keeping Bud Selig and MLB at bay.
Then what?
He's a pariah within the game. He'll still have an over-leveraged franchise with its future income stream truncated because of the nature of the Fox Sports deal. No one is going to want to deal with him. The goodwill of his franchise will be devastated.
I just can't help but wonder...what does McCourt see as his ideal outcome with all this?
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