Something Else That The State of California Is Well Known For Accepting Mediocrity While Trying To Assuage Us With Their Greatness & Narcissism .

Something Else That The State of California Is Well Known For Accepting Mediocrity While Trying To Assuage Us With Their Greatness & Narcissism .

Well not unlike the state legislature of California that faces such acute financial problems we now have the Los Angeles Dodgers facing woes of its very own. Now it’s a fact that Los Angeles Dodgers will now officially file for bankruptcy . I was repeatedly told by patrons within this medium that bankruptcy would and could never happen . If that’s the case then explain to me how it is that in the last twenty four months the following teams in Major League Baseball each had to file for bankruptcy . In the cases of the Chicago Cubs and Texas Rangers Chapter 11 ( Bankruptcy Protection & Reorganization) was seemingly the only way out from financial mismanagement by their then owners . Now with that in mind it shouldn’t come as a surprise to anyone that now two of the games most storied ballclubs are effectively in the same boat. And as acute as the situation now appears to be with the Los Angeles Dodgers , it could very well be far more grave for the New York Mets and their situation. The club is defendant in a civil suit alongside principal owners Saul Katz and Fred Wilpon as part of the fallout from the Bernard Madoff Ponzi scheme scandal . Much of what we know concerning the Dodgers has been the mismanagement and the very fact that MLB hierarchy simply suborned much of the absurdity that has taken place ever since Frank McCourt assumed control of this team with his purchase of the organization from Fox Inc whose parent company is News Corporation .

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Slideshow for your perusal .

From my own standpoint this should be a fucking wake up call for the idiots who carry on as if they’re in the know when it comes to the economics of the game but instead they’d rather talk about the shit like the future of the game and the young prospects there . That’s like trying to search for the leprechaun’s pot of gold in the hope that at the end of the day things will be great . Let’s get real here the owners as we know them to be are not that business minded in spite of their apparent wealth and alleged entrepreneurial acumen . And not to be left out of this all has to be those asinine general managers within the game . Baseball has and will always continue to shoot itself in both feet because its hierarchy simply isn’t bright or astute enough to either do or know what is actually appropriately the right thing to do !

Once MLB Commissioner Bud Selig saw fit to bring in former diplomat C Thomas Schieffer to oversee the day to day running of this team we all knew that the Dodgers and Frank McCourt had reached the point of no return . But if anyone with the slightest bit of common sense could see that the writing was on the wall and the sense of foreboding for the organization. And while this was all going on what might be even more contemptible was the fact that GM Ned Colletti , COO Geoff Wharton , CFO Peter Wilhelm , CRO Michael Young and Tommy Lasorda simply chose to remain silent . Which begs the question what is it with the damn stupidity that obviously had to be taking place within the front office of the Los Angeles Dodgers ? . From my own standpoint this is something that is long overdue and had to happen for baseball and the fans to finally sit up and take note ! Are some of the so called intellectual fans out there and those who claim to be insiders are simply that naive ? I’ve no doubt that the so called analysts at Fox and ESPN will now try to regale us with what they see as a painful episode , all the while these very same ingrates undoubtedly chose to ignore this story once it came to the public forefront .

Over the coming days and weeks I’ve no doubt that this all well be thoroughly discussed and written about all with a view to seeking a reason why this had to happen to one of the most storied teams in all of baseball . Well when you have a sport that shows no transparency on any level whatsoever what the fucking hell would you expect ? It’s not as if the league hierarchy itself during Selig’s tenure has ever been known to be completely open with regard to its business practices much less has a propensity for actually telling the truth on any level.

It is extremely sad to see a once great ballclub simply fall from grace and then think that Frank McCourt and the Dodgers’ hierarchy are solely to blame because much of what we know to have factually happen has been due to the inaction of the hierarchy of the game. It’s all too little too late for the organization , even with the Dodgers having now filed for bankruptcy protection . It will now be extremely difficult for the team’s creditors to actully recoup monies owed given the debt amassed by Frank McCourt which if we are to believe could very well exceed in excess of $600 million and that’s simply a conservative estimate as neither the ballclub or the league hierarchy have chosen to be completely transparent and the mere fact that Selig now wants to be seen as a knight riding into the rescue when nothing could actually be further from the truth . Instead this has more to do with the league wanting to give its image a raise in its already diminished and tarnished profile . And here was I thinking that the league handled the ” steroid issue” with about as much deftness as a blind man playing hopscotch in the midst of a minefield ! There has been more blowblack and utter cluster fucks dug up here than can actually be found in a whore’s closet !

Courtesy of The all St Journal

Baseball Blasts Dodgers Bankruptcy Loan

By Patrick Fitzgerald and Marie Beaudette

Major League Baseball on Tuesday moved to intervene in the Los Angeles Dodgers bankruptcy case, blasting owner Frank McCourt and claiming it has a “cheaper, no strings-attached solution” to the team’s financial woes.

The office of baseball Commissioner Bud Selig, who has been sparring for months with embattled Dodgers owner Mr. McCourt, said in court papers filed Tuesday that acting in the best interests of baseball, the league will provide the Dodgers with a “less expensive and otherwise superior” bankruptcy loan.

Mr. McCourt placed the Dodgers into Chapter 11 protection on Monday in U.S. Bankruptcy Court in Wilmington, Del., in a last-ditch bid to avoid having the team seized by the league.

The league says Mr. McCourt has “siphoned off well over $100 million” of the Dodgers’ revenue and has driven the team to a “liquidity crisis so severe that, absent extraordinary measures, the club would be unable to make its payroll.”

The team turned to a hedge fund manager owned by J.P. Morgan Chase & Co., which is providing a $150 million in so-called debtor-in-possession, or DIP, financing for what the league says is an “excessive” fee.

Major League Baseball blasted Mr. McCourt, saying he has placed his own financial interests over that of the club. While the Dodgers say they conducted an extensive search for financing, MLB says Mr. McCourt never approached the league, “an obvious source of a DIP loan,” according to court papers. A McCourt spokeswoman declined to comment.

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So what now for the Dodgers and how does the hierarchy deal with this all ? In seeing the Los Angeles declare bankrupcty it now leads to Frank McCourt will either sell the team or perhaps seek a cash infusion . Creditors will no doubt be very weary of the situation and given the fact that should MLB have to fully intervene then teams around the league will be on the hook as they hierarchy seeks to pay off many of the Dodgers’ creditors monies owed . Amongst those still owed monies by the ballclub are ex players Ted Lilly , Manny Ramirez and Andruw Jones are said to be owed in excess of $24 million as well as broadcaster Vin Scully some $150,000 . This now begs the question, if McCourt is still able to meet payroll for the month of June then what of the ensuing months and where indeed will those funds actually be coming from ? We know that the $3 billlion deal that McCourt had been counting on as part of a negotiated tv contract deal with the local Fox affiliate left a great deal to be desired as much of those funds were due to pay down debt inucrred by McCourt and associated business interests .

Seemingly , when I’ve asked how it is that Frank McCourt was simply allowed to violate league rules in using the ballclub as collateral in multiple business deals repeatedly . But yet somehow the league hierarchy under Bud Selig has simply kept silent on this issue . If anything this all now leaves this ballclub in a complete mess and there’s no way in hell that any potential free agent would seek to even show an interest in the Dodgers . Given the financial uncertainty of this team, who the hell would want to be playing in the hellhole of Los Angeles with the current regime in place ? What might be even more worrying is where this now leaves the future of the coaching staff under Don Mattingly and the potential free agents with the Dodgers at present ? This once proud franchise has no one but to blame but itself but I would also say that due diligence was certainly not used by Bud Selig and the owners when they gave their approval in the sale of the Dodgers to Frank McCourt. The owner came into the organization with a great deal of baggage that if anything should have been a precursor of the mess that would become a part of the Los Angeles Dodgers’ current debacle . Multiple litigant problems many of which McCourt was a plaintiff and some where he was a defendant but if anything the league hierarchy should have been fully cognizant of those issues .

I’m not so sure what the rest of the season holds for the Los Angeles Dodgers and at the same time what are the poor and disenfranchised fans to think about this mess ? I’m sure as such that they are no doubt being very vocal and vehemently against Frank McCourt still being in control as the owner of this team . Furthermore , I can’t help but wonder what the future now holds for the players not only on the team but also for the prospects and farm system of the organization as a whole ! Baseball has simply been a mess not solely because of the financial ramifications that has befallen the teams in large part but also because of the idiocy shown by the league hierarchy and the intransigence of the MLBPA .

I’ve long maintained that Bud Selig has been a poor commissioner for baseball and about as out of touch as to the acute problems that the sport now faces ! It’s no use living in the past without having learned nothing from those events and herein lies another of the many problems that the game faces , it is that nothing at all has been learned by the owners the union (MLBPA ) or the league hierarchy itself as they merely seek to carry on business as usual . If there are any potential suitors for the Los Angeles Dodgers it will be very interesting to see what sort of value is placed on the organization and whether or not that suitor would indeed be willing to pay the price being asked as to the potential value of this team .

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Picture gallery for your perusal .

What thoughts if any do you have concerning the plight of the Los Angeles Dodgers ? And where would you apportion blame for much of the fallout for this monumental financial disaster that has now encircled the ballclub ? Simply chime with a thought on this topic and anything else you feel pertinent to the subject matter broached in this piece .

Alan aka tophatal …….. https://tophatal.wordpress.com

Picture and slide show for your perusal .

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(1) Los Angeles Dodgers’ Trent Oeltjen smiles at some Dodgers fans late in the baseball game against the Minnesota Twins Monday, June 27, 2011 in Minneapolis. Oeltien was 4-for-4 with two singles, a triple and a home run in the Dodgers’ 15-0 win. AP Photo/Jim Mone …..

(2) MINNEAPOLIS, MN – JUNE 27: Tony Gwynn (10) of the Los Angeles Dodgers singles against the Minnesota Twins in the first inning on June 27, 2011 at Target Field in Minneapolis, Minnesota. The Dodgers defeated the Twins 15-0. Photo by Hannah Foslien/Getty Images …….

(3) Alexi Casilla (12) of the Minnesota Twins is out at home as A.J. Ellis (17) of the Los Angeles Dodgers defends home plate in the sixth inning on June 27, 2011 at Target Field in Minneapolis, Minnesota. The Dodgers defeated the Twins 15-0. Photo by Hannah Foslien/Getty Images …………

(4) MINNEAPOLIS, MN – JUNE 27: Ned Colletti, General Manager of the Los Angeles Dodgers watches batting practice before the game against the Minnesota Twins on June 27, 2011 at Target Field in Minneapolis, Minnesota. Photo by Hannah Foslien/Getty Images ……

(5) LOS ANGELES, CA – FILE: Los Angeles Dodgers owner Frank McCourt speaks at a news conference at Dodger Stadium prior to a game between the St. Louis Cardinals and Los Angeles Dodgers on April 14, 2011 in Los Angeles, California. It was reported that the Dodgers have filed for bankruptcy protection in a Delaware court June 27, 2011. Photo by Kevork Djansezian/Getty Images ……

(6) Bud Selig commissioner of MLB , whose tenure as the game’s highest ranking official has been steeped in a great deal of controversy . In the last twenty four months three major league teams have had to file for bankruptcy protection under the commissioner’s watch but he and the league hierarchy have done little to try and rein in the financial mismanagement that now seems rampant not just amongst the teams but also at MLB’s headquarters . AP Photo / Carl Nash …….

(7) Dodgers’ manager Don Mattingly (L) and general manager Ned Colletti of the Los Angeles Dodgers attend a press conference announcing that Mattingly will manage the Dodgers in 2011 after Joe Torre retires at Dodger Stadium on September 17, 2010 in Los Angeles, California. Getty Images North America / Lisa Blumenfeld ….
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