Frank McCourt takes Dodgers into bankruptcy court
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
Photo: Frank McCourt outside his office at Dodger Stadium, April 29, 2011. Credit: Damian Dovarganes / Associated Press