Reply #6: Frank McCourt is done for. Stick a fork in him.

[ellisonz]

DODGERS BANKRUPTCY
Trial postponement could lead to sale of Dodgers by Frank McCourt
The one-month postponement of the bankruptcy trial will allow McCourt and Major League Baseball to explore a possible settlement in which he sells the team, several people familiar with situation say.



Dodgers owner Frank McCourt may be exploring a settlement with Major League Baseball that would see him sell the team. (Jason Redmond / Associated Press / September 14, 2011)

By Bill Shaikin

October 26, 2011, 10:32 p.m.
The Dodgers' bankruptcy trial has been postponed for one month so Dodgers owner Frank McCourt and Major League Baseball can explore a possible settlement under which McCourt would agree to sell the team, multiple people familiar with the matter said Wednesday.

McCourt discussed a potential settlement with league officials Monday and Tuesday, said the people, none of whom were authorized to comment on the confidential talks. U.S. Bankruptcy Judge Kevin Gross announced the postponement in a one-sentence order on Wednesday, without citing a reason for the delay.

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However, the settlement talks hit a snag when the league declined to guarantee McCourt a specific return for selling the team, one of the people said. The league, which already has loaned McCourt $150 million in bankruptcy financing, is not willing to subsidize his exit should the team sell for less than whatever figure he might ask MLB to guarantee, the person said.

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McCourt might need more than $1 billion just to break even after paying off debts, tax liabilities and his divorce settlement, based on interviews by The Times and an analysis of court records in California and Delaware.

http://www.latimes.com/sports/la-sp-1027-dodgers-bankruptcy-20111027,0,2390406.story

Good Riddance to Frank and Jamie McForktongued!:mad: