Categorized | Mark Timmons

McCourt Wins Round One

There is no good news, just bad and badder news.

First the bad news... then the 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.

You can read all the information at ESPN/LosAngeles or The LA Times or a myriad of other places on the web.

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!

About Mark Timmons

When you see the invisible, you can do the impossible!

20 Responses to “McCourt Wins Round One”

  1. The Bunny Rabbit inside Broxton's Soul says:

    http://latimesblogs.latimes.com/dodgers/2011/06/mccourt-gets-his-money-for-now.html

    Update: Tim Brown at Yahoo, in a series of tweets, provides some more detail…

    MLB will move within days to have its monitors — Schieffer and Allen — re-installed at Dodger Stadium. Also, will request a trustee…

    Sources: MLB very happy with events today in Delaware. Most important thing to delete media rights auction. Figure out rest in 3 weeks.

    Short term, McCourt gets $60 million to run franchise thru July 20. MLB not unhappy that’s not its money.

  2. The Bunny Rabbit inside Broxton's Soul says:

    By the way, there was no ruling by the bankruptcy judge on this, if i read this correctly…. McCourt and MLB came to this understanding while the bankruptcy judge was deliberating. It just eliminates one more life-line Frank has in the immediate future. This might be done by the end of the summer

  3. Brooklyn Dodger says:

    I haven’t seen anything that says McCourt won anything. Looks to me as if he’s desperate to keep on buying time, and that MLB is just biding it’s time until all its ducks are in order.

    http://sports.espn.go.com/los-angeles/mlb/news/story?id=6712548

    Note the following from the article linked above:

    “The league says its proposal eliminates $4.5 million in fees, reduces the interest rate by 3 percent, does not require the Dodgers to encumber their assets, does not impose an artificial deadline to work out a TV deal, has fewer default triggers and complies with bankruptcy code.”

    It seems to me that managing an MLB takeover will be a lot easier without having to contend with a third party that encumbers the Dodgers assets. And it also removes from the equation an auction for media rights, leaving McCourt still without a long term media deal in place, which is what he really needs to save his ownership.

    Still lurking in the background are the Shieffer report, the contents of which, for now, are only known by MLB. And there is, of course, Jamie, who still has the potential to prevail in her contention that the Dodgers are community property.

    From my vantage point, until I read something more authoritative than a blog post, today’s actions just pushed the ball down the road for another three weeks.

  4. Brooklyn Dodger says:

    Wait!!!! Could this mean that Mark is violating his pledge to tell us what he really thinks, and is instead just stirring the pot again by playing Devil’s Advocate? I’m confused.

  5. Mark_Timmons says:

    McCourt won Round 1. Plain and simple. He got what he asked for. MLB launched an all-out attack on him, but finally agreed to wait on a July 20th hearing.

    I\’m not saying he won the war, but he won his own little battle today.

    • Badger says:

      He was allowed to secure ANOTHER LOAN man. How does that help him?

      There is an old saying – “when you find yourself in a hole, the first thing you have to do is stop digging.” Frank just keeps digging.

      Hey, it’s his own catafalque. Dig away Paco.

  6. Mark_Timmons says:

    I also think that anything can happen. Look, Bud has a bunch of old guys as his advisors – not that there is anything wrong with old guys as I become one, but sometimes youth is good too. I think Bud has too many old cronies around him and not some of the sharpest knives in the drawer.

  7. Mark_Timmons says:

    Let me explain this:

    MLB’s Mission today was to be the holder of the loan and prevent McCourt from obtaining outside financing, as well as keeping him from falling under the authority of the court.

    McCourt’s Mission was to get the court to accept his plan for a loan and the immediate operation of the team.

    Frank WON.

    MLB LOST!

    TODAY!

    No less – No more!

  8. Mark_Timmons says:

    McCourt also asked Tom Schieffer and John Allen to leave their front office and they did.

    MLB Officials “elated”? I doubt if anyone expected the Judge to rule on the TV contract today, so why should they be elated? That’s just spin…

  9. Mark_Timmons says:

    Now, I will tell you that today’s win doesn’t mean anything!

    MLB will be elated when they get him out.

  10. Badger says:

    “McCourt won Round 1. Plain and simple.”

    Ain’t nothin’ plain and simple about any of this.

    Lawyers hashing out what they think happened. Not really clear. Maybe a draw, maybe McCourt on points:

    http://www.dodgerdivorce.com/

    McSphincter is just protracting the inevitable. The more he drags this out, the more fans will boycott he and his mismanagement.

    He just doesn’t get it. Nobody wants him anymore. Not the fans, not MLB, not his wife, NOBODY. I wonder if his kids are embarrassed. They should be.

    Beat it Frank. You are done here.

  11. Mark_Timmons says:

    Frank won what he set out to win today.

    That\’s my only point.

    This may be a 15 round bout.

    He may win some more rounds.

    I am not saying he won the fight.

    I am not saying he will win the fight.

    I will say that the possibility exists.

    There have been bigger upsets:

    David vs. Goliath.

    I have been involved in a MAJOR upset….

    But I am sick – way sick – of it!

  12. Badger says:

    Yeah, ok. Frankie David borrowed more money to keep the Philistines at bay for another few weeks. Hallelujah for the “underdog”.

    Then what? How does he pay that money back? How does this man EVER get people back to the stadium? The fans have spoken. Frank McCourt is bankrupt. He is done. It’s just a question of how long he can tread water. Even cockroaches can stay afloat for a while.

    Round two coming up. The roach and all his roach suits will come out swinging again. The air will be foul with roachatudinal stench. He may even win that round and be able to borrow more money. But someday, hopefully sooner than later, all the notes will come due and foreclosure will happen. In the mean time, we got more embarrassment to endure.

    Sell the team Frankie Flatwallet, pay off Jamie, and the bugs in the suits, and row off into the sunset.

  13. Gonzo says:

    I don’t think that McNahNahNahNah DIDN’T get what he wanted in but agreed to what MLB offered him. Read between the lines and you’ll see that McBozo is lining himself up for a huge payday(he’ll keep a couple 100 mil) I can tell you who is going to buy the Dodgers at the asking price. MLB! Its a win win for MLB since they will be the sole owner and be able to SELECT the new owner because when the court orders the team sold it will be up to McClown and to piss off the owners he’ll sell to Mark Cuban or someone that is not accepted in the hallowed good ol’ boys club. You heard it here.

  14. Badger says:

    Most of you have no doubt read this but it bears re-reading:

    “The light went on when all the disclosures came out. That was a turning point for us,” Roth said. “When we were able to look behind the curtain and see how he was really running the team, that changed everything.”

    http://www.latimes.com/sports/la-sp-plaschke-dodgers-20110629,0,7928723.column

    Why does ANYBODY continue to show up for this?

    I see your point Gonzo, but I think MLB will just take over for a while, then sell to the next shill they want in place. They have the final say in who owns a team. Nobody can just sell to whoever they want.

  15. Mark_Timmons says:

    Gonzo, I had never thought about MLB buying the Dodgers, but I guess it\’s possible. I am just not sure they could line up the financing because many clubs are hurting right now. Several owners would have to pledge some big assets to do that. It\’s possible, but not likely I think.

    My point about the win yesterday – and it was a win – probably temporary was that Frank was able to keep control (temporarily). However, the next round (which could be this week) could be a loss to him if the court decides his financing is too steep and accepts MLB\’s proposal.

    The court is the Wild Card here. Anything, and I do mean ANYTHING can happen in Court.

    Stay tuned!

  16. Badger says:

    I think everyone else weighing in on this has called the first round a draw. But, I think we are splitting hairs on that issue.

    You are right, ANYTHING can happen in court. Those who have been through the process know our courts are not about justice (McCourt getting kicked out on his ass) they are about process. Sometimes process favors influence. Let’s face it, you put gold on one side of the scale and pewter on the other, gold wins every time. It IS the American way.

    Having said that, I just don’t see any gold in McBroke’s pockets. It would appear his circle of influence has shrunk to nearly invisible levels. NOBODY wants this guy around anymore.

    As Mark has pointed out so many many times in here, money doesn’t necessarily buy championships. What it buys (for everybody but the Cubs) is the ability to compete and field a team that fills the seats. This is good for ALL of baseball. The Yankees are the prime example of this. They are good for ALL of baseball, and yet they don’t win the Championship every year.

    It is my opinion that a West Coast version of the Yankees would be good for ALL of baseball. I think Bud knows this, I think everybody knows this. The problem of course is lies in ego. If the Dodgers can sign Sabathia, Fielder, David Wright and Jose Reyes – and they could with Cuban as owner – how would that effect the Padres and Pirates of the NL? Jealousy in that circle of influence is a powerful enemy of a guy like Mark Cuban. The Los Angeles Dodgers, owning their own stadium and television network, and putting 3.5 million b.i.s. every year, should be able to sign anybody the freakin’ want to sign. Getting an irresponsible underfunded owner like Frank McCourt in there was a purposeful act done by the small minded commissioner and equally small minded collection of stubborn jealous NL owners. It has backfired on them.

    What is their next move?

  17. Mark_Timmons says:

    Well said Badger!

    The only ones who call it a draw are ones whose only agenda is to out McCourt.

    Frank wanted the Court to let him get money.

    MLB wanted to block his getting the money.

    Frank got the money.

    Frank won Round One. It’s only a battle – not the war. In the grand scheme of things, it may mean nothing.

  18. Corey says:

    I’ve got to go 100% with Badger on this one….and Mcdork only got about 40% of the money he was looking for, with no tv rights auction deal, don’t see it as a win for him either..maybe very short term win, but certainly nothing you could call a victory for long-term

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