Frank McCourt takes Dodgers into bankruptcy court
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The Dodgers filed for bankruptcy protection on Monday.
Owner Frank McCourt said he had lined up $150 million in interim financing so he could keep control of the team during the bankruptcy proceedings.
In a news release, the decision to file bankruptcy was described as a move to ‘protect the franchise financially and provide a path that will enable the club to consummate a media transaction and capitalize the team.’
See the complete statement on the Dodgers’ bankruptcy filing.
-- Bill Shaikin