Posted: Jun 27, 2011 8:28 AM by Lauren Wilson & AP
LOS ANGELES (AP) - The Los Angeles Dodgers have filed for bankruptcy protection in a Delaware court.
Dodgers owner Frank McCourt cites Major League Baseball commissioner Bud Selig's interference with club operations and refusal to approve a Dodgers TV deal with Fox Sports as the cause for Monday's bankruptcy filing.
In a news release, the team says Chapter 11 bankruptcy protection will provide the Dodgers with a process to address its immediate financing requirements and obtain the capital necessary to ensure the baseball franchise's long-term financial stability.
He says the Dodgers have tried for almost a year to have Selig approve the Fox transaction, saying it would make the Dodgers one of the strongest capitalized franchises in Major League Baseball.