The Los Angeles Dodgers filed for Chapter 11 Bankruptcy protection today. MLB Commissioner recently rejected a $3 billion deal with Fox that may have helped pull the club out of its $630 million in debt. The Commissioner did not approve the deal, saying it was self-serving for the Dodger’s owner and not in the best interest of the Dodgers or its fans. Some of the unsecured creditors are actually former players, including Manny Ramirez whom they owe nearly $21 million. According to Forbes, the Dodgers franchise is MLB’s third most valuable franchise, worth an estimated $800 million.
Even though the team insists that the bankruptcy will in no way affect the salaries and benefits of their players, it is hard to imagine that this won’t get in their heads and in some way affect their play. It certainly can’t help as they find themselves struggling with a winning percentage of .443 and 9.5 games behind the leading team in the NL West. By the way, who is that leading team?