This Doylestown bankruptcy lawyer, originally from Los Angeles, offers the following reason to celebrate: the fog that has been swirling around Chavez Ravine lately (that of Dodgers owner Frank McCourt filing for Chapter 11 bankruptcy protection...on the heels of his divorce, which highlighted lavish lifestyles, being leveraged to the hilt, nepotism, and affairs) might be clearing. The real estate mogul from Boston who somehow bamboozled Bud Selig into supporting the McCourt purchase of the famed franchise has agreed to auction the team, with oversight from the bankruptcy court.
King Law Center, a Doylestown bankruptcy lawyer continues:...
Former Dodger owner Peter O'Malley has expressed interest in forming an investment group to re-purchase the team and re-install himself as chief executive. Dallas Mavericks owner, Mark Cuban, inquired about buying the Dodgers in the past and again has expressed renewed interest, but the price of over one billion dollars might allegedly cool his interest. The investment group led by former Dodger first baseman Steve Garvey and "Bulldog" pitcher Orel Hershiser might have the best chance of buying the squad as they have been putting together their group for some time and could come well-prepared with the right bid for baseball, especially in light of the fact that the group is led by well-respected former major leaguers.
As always, where Chapter 11 is concerned, the court will have oversight into the auction. Money alone may not matter. Consider, for instance, the auction for the Red Sox was won by current owner John Henry despite being outbid for the team by the now New York Mets owner James Dolan. So, baseball, as a private club of sorts, will have approval procedures in place which exist independent of the money. But the bankruptcy court will not ultimately approve the Dodgers sale unless the money proffered in the auction satisfies the court, on behalf of the creditors.
In a time when the NBA players (NBPA) and NBA owners cannot agree how to split billions of dollars -- which came on the heels of another labor issue in the NFL where billionaire owners fought millionaire players -- yet unemployment hovers around 10% nationally, talk of billion dollar luxury purchases falls flat to this sports-loving Doylestown bankruptcy lawyer. The issues are certainly interesting but relating to these people is no longer possible.
This Doylestown Chapter 7 lawyer understands that, to some extent, the NBA owners spent too much and put themselves in this hole, but how much is too much, players? Most of you did not graduate from college, play a game for a living, can get paid alternately with endorsement deals, and half of multi-billion dollar basketball related income (BRI) is not enough? And if, indeed, the owners did spend too much on their basketball operations and player salaries, then how can anyone have sympathy for you, either?
The Dodgers were a mess, echoing the life of their ownership. Sports should be an outlet for the average folks. The players, maybe not heroes, used to at least be likable. The King Law Center is dedicated to helping people who are neither billionaires nor millionaires, because, in fact, it can and does get a lot worse. Real issues and real worries interfere in the lives of us average folks. If you are having trouble paying your bills, consider bankruptcy as an alternative. Contact King Law Center and ask questions. Just find out what filing for Chapter 7 or Chapter 13 can do for you. Much like the Dodgers and their fans, a fresh start might just be on the horizon for you.
