Showing posts with label Bankruptcy. Show all posts
Showing posts with label Bankruptcy. Show all posts

Saturday, July 16, 2011

The outgoings far exceed the incomings for F. McCourt

Frank McCourt has told the court that he can no longer afford to support Jamie McCourt's extravagant lifestyle, as reported by Steve Dilbeck. Frank claims he paid Jamie $7.76 million over the past year to cover temporary spousal support and maintenance on their seven homes...but that can't continue on his current income.

Note to Frank: there has never been a time when you could afford Jamie's lifestyle.

At any rate, he does make a pretty valid point. If we were to rephrase his request to the court in more casual terms it would sound something like this: "Hey Judge, tell my money-hungry sow of an ex-wife that the party's over. She needs to sell a house or two or three. I can barely afford the room service rate for caviar in my modest Montage suite."

Frank and Jamie are both responsible for the dire financial mess the Dodgers organization is in. Who can say if one is more responsible than the other. That said, for sheer laughs read this quote by one of Jamie's representatives: "It's inexplicable that Frank has single-handedly destroyed the value of the Dodgers in the nearly two years since Jamie was last involved with the team."

The sad part of it all is that Frank can wave all this misery away — the exorbitant cost of litigation, the usurious loan fees, Jamie's divorce lawyers chewing away at his heels, Bud Selig thwarting his every effort to keep the team, the uniform contempt of an entire city, etc. — with a magic wand if he just sold the damn team. But in the face of good judgment, he insists on continuing the war.

Thursday, June 30, 2011

Dodgers News & Notes

  • How is it that baseball didn't expect Frank McCourt to file Chapter 11? Bud Selig made an egregious blunder when he allowed Fox to sell the Dodgers to McCourt. He might have added to it when he shied away from staging a hostile takeover. But this would have gone strictly against precedent for a league known for sticking to the old ways of doing things, even at a time when one of it's most glorious franchises edges near financial collapse. Full story here.
  • Steve Dilbeck ponders why McCourt continues to employ Steve Garvey while the latter assembles a group to purchase the Dodgers? It's a a mystery that "rates slightly behind Charlie Sheen taking steroids for a baseball movie." Full story here.
  • The other potential suitor is a Dodger Stadium fixture too. Unlike Garv, he pays a small ransom to be be there. With an impressive list of credentials that includes a coaching stint with the San Fernando Orioles, you better believe Dennis Gilbert warrants serious consideration. Full story here. 

Wednesday, June 29, 2011

Frankrupt!

Frank McCourt doesn't need you...he doesn't need anything! Except this ashtray, this paddle game and this remote control...

Wednesday, May 18, 2011

On eBay you can bid on Dodger tickets, Dodger gear, and pretty soon the Dodgers

Forbes is reporting that if Frank McCourt can't come up with $6 million to $9 million to fund payroll, the team will be sold in an auction. If this picture offers any clues, he's going to have a hell of a time getting there.

Dodger Stadium on Clayton Kershaw Bobblehead night. Photo is courtesy of 6-4-2 — an Angels/Dodgers double play blog via ChadMoriyama on Twitter.