Despite some objections by Fox Sports and the MLB, sources say that a bankruptcy judge is likely to approve the sale of the Dodgers as early as Friday.
Fox and the MLB expressed some minor concerns about the sale of the Dodgers on Tuesday, but these objections won’t hinder the sale.
Frank McCourt, the team’s outgoing owner, agreed last month to sell the team to Guggenheim Baseball Management for $2.15 billion, but the MLB was frustrated by the lack of details about the sale and also wanted the court to order the team to pay $8 million in legal fees.
Fox also objected to a lack of information about the impending sale which would allow the channel to ascertain whether they can retain their broadcast rights. Fox wants written confirmation that Time Warner Cable is not an affiliate of the group purchasing the team. And also want be sure the buyers don’t have any formal or informal agreements with Time Warner Cable or other media outlets that would infringe on their rights.
Bankruptcies are complicated, as the Dodgers case demonstrates, which emphasizes the point that the entity filing for debt protection should hire an accomplished bankruptcy attorney.
When a business or individual can no longer meet their debt obligations, a bankruptcy lawyer can evaluate their finances and determine which filing meets their client’s needs. With the help of a bankruptcy attorney the indebted business or individual will be able to return to financial solvency.