Los Angeles Bankruptcy Blog

UPDATE 6:49 AM: Wall Street Journal has a short story up.

The gist of it:

Mr. McCourt filed for bankruptcy protection under Chapter 11 in Delaware in a last ditch effort to save his team from being seized by Major League Baseball, which took over day-to-day operations of the Los Angeles club in April amid concerns over team finances and security at Dodger Stadium.

Seems to be a drastic move to stop Bud Selig and MLB from grabbing the team.

ORIGINAL POST

It’s reported this morning (hat tip: Rick Klein and Jake Tapper) that the Los Angeles Dodgers have filed for bankruptcy protection in Delaware.

Does this mean the Dodgers are going out of business?

Likely, no. It just means they’re reorganizing the same way General Motors and Chrysler did, coming out leaner and meaner.

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