Thursday, October 27, 2011

Dodgers for Sale?!?

First off, God bless L.A. Times writer Bill Shaikin! Shaikin is reporting today the Dodgers bankruptcy trial has been postponed to allow McCourt and MLB to negotiate a settlement which will include the sale of the team.   

Shaikin further reported:

"McCourt discussed a potential settlement with league officials Monday and Tuesday."

"The settlement talks hit a snag when the league declined to guarantee McCourt a specific return for selling the team.  The league, which already has loaned McCourt $150 million in bankruptcy financing, is not willing to subsidize his exit should the team sell for less than whatever figure he might ask MLB to guarantee."

"In court papers this week, attorneys for McCourt estimated the value of the Dodgers, their stadium and the surrounding land at "in excess of $1 billion." Forbes valued the assets at $800 million last March.  McCourt might need more than $1 billion just to break even after paying off debts, tax liabilities and his divorce settlement, based on interviews by The Times and an analysis of court records in California and Delaware.""The league is willing to work with McCourt on conducting an auction, according to a person familiar with the discussions."

Could this be the beginning of the end for McCourt? Is this the light of the end of the tunnel for the Dodger faithful?  I don't want to get too excited but it looks like McCourt may have finally realized he's better off selling the team and moving on.  We can only hope!

True to the Blue!

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