Dodgers bankruptcy: Did judge hint at ruling favoring MLB?
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As U.S. Bankruptcy Judge Kevin Gross offered his closing remarks at the end of a 10-hour hearing Wednesday, he made clear his priority would be an economic one in determining whether Dodgers owner Frank McCourt can use his loan to fund the Dodgers through bankruptcy or must use one provided by Major League Baseball.
‘This is about dollars and cents,’ Gross said. ‘This is not a control issue.’
Gross said he hoped to issue his ruling Thursday. His comments appeared to speak toward the primary concern expressed by McCourt and his attorneys--that the Dodgers need not take a cheaper loan from MLB because the league is an adversary interested more in ousting McCourt than helping the team. No matter who provides the loan, Gross said, the use of the money would be subject to court oversight.
Thomas Lauria, an attorney for MLB, said he hoped the judge’s comments signaled a favorable ruling and said they confirmed what the league has said all along.
‘This (proposed MLB loan) agreement isn’t giving us any control,’ Lauria said outside court. ‘That’s their whole argument, that we’re sneakily getting control. All we’re trying to do is save ‘em a few bucks. I guess no good deed goes unpunished.’
Bruce Bennett, an attorney for McCourt, said he could not say what way Gross might be leaning but indicated the Dodgers could work with an MLB loan so long as it included modifications. In opening arguments, Lauria told Gross the league would make concessions to satisfy the Dodgers’ concerns about whether MLB could use the loan to accelerate an ownership change.
‘If he allows the MLB (loan), it would be a loan we could live with,’ Bennett said.
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-- Bill Shaikin in Wilmington, Del.