There is no good news, just bad and badder news.
MLB was poised for this – I am sure they had planned for McCourt filing bankruptcy and even had their briefs and motions in opposition ready for weeks.
I am sure that Frank’s attorneys have told him he would have a better chance of prevailing in Federal Court where he could more easily mount Constitutional challenges to MLB’s takeover attempts, but without the money he had to settle for Bankruptcy Court where the Constitutional issues are not generally a factor.
At any rate, Frank’s team prevailed and the Judge authorized them to proceed under bankruptcy protection.
All I can say is that this is a 15-Round Heavyweight Fight and Round One goes to McCourt . There are so many possible outcomes that it makes my head hurt!
I have warned you for almost two years that he’s not going away… at least not soon and not easily, as far as I can see.
Mark Cuban is a pipe dream. If Bud let the under-capitalized Ricketts Family buy the Cubs, he shows he doesn’t want a guy like Mark Cuban as an owner.
Still, if a Judge ordered the Dodgers sold, Mark Cuban could end up buying them. The problem is that the Dodgers are valued at about a Billion Dollars and guys like Mark Cuban buy undervalued assets – they don’t buy premium-priced assets and I believe there is some dumba$$ who will pay a billion dollars for the team, but have no clue how to run it.
It’s all bad news!