Make us your home page

Get the quickest, smartest news, analysis and photos from the Bucs game emailed to you shortly after the final whistle.

(View our Privacy Policy)

Judge tells Dodgers to seek loan with MLB

DOVER, Del. — A Delaware judge on Friday rejected the Dodgers' proposed $150 million bankruptcy financing plan, directing the team to instead negotiate a loan deal with Major League Baseball.

Judge Kevin Gross said the team failed to show that the terms of its secured financing with hedge fund Highbridge Capital were fair, given the more favorable financial terms in MLB's unsecured loan offer.

The Dodgers previously rejected MLB's offer and had refused to negotiate with the league, arguing that its financing proposal was simply an attempt by commissioner Bud Selig to take control and force a sale.

While acknowledging an "underlying feud" between Selig and Dodgers owner Frank McCourt, Gross said he based his decision on debtor-in-possession financing on the narrowest grounds possible and leaving arguments over the team's management for later.

Bruce Bennett, an attorney for the Dodgers, said he had spoken with McCourt, and that the owner was satisfied.

"He was pleased that the financing will not have any impact on the Dodgers' reorganization strategy," Bennett said.

The Dodgers already have asked MLB for a draft credit agreement reflecting the judge's requirements, said Bennett, adding that the loan agreement could be wrapped up next week.

Giants fan update: Bryan Stow, the Giants fan who was beaten at Dodger Stadium at the season opener and suffered brain damage, opened and closed his eyes on command, moved his right hand and mouthed his last name, according to a message posted on the family's website. Stow, 42, had surgery Monday for fluid buildup in his head that caused a seizure. Doctors have kept him under heavy sedation.

Meanwhile, authorities now believe Louie Sanchez, 29, and Marvin Norwood, 30, were responsible for the attack. They were charged with assault and mayhem and remained in custody in lieu of $500,000 bail. Both have violent criminal histories, according to court records. A third person, Dorene Sanchez, also was arrested on suspicion of being an accessory after the fact to a felony, police records show. Sanchez, 31, is the sister of Louie Sanchez. She is out on bail.

Dykstra case: Former Mets and Phillies OF Lenny Dykstra, 48, was ordered to stand trial in Los Angeles on car theft and drug possession charges. He will go to trial on 25 counts, and if he is convicted, Dykstra faces up to 12 years in prison. He remains in jail, and also faces federal bankruptcy fraud charges.

Brewers: All-Star LF Ryan Braun did not start in order to rest his lingering left calf strain. Mark Kotsay started instead.

Giants: C Buster Posey had the screws removed from his surgically repaired left ankle but is still weeks away from putting weight on it. He tore three ligaments in his ankle and fractured a bone in his lower left leg in a collision at the plate with Florida's Scott Cousins on May 25.

Phillies: Former closer Brad Lidge (elbow, shoulder) was activated and reliever Danys Baez was designated for assignment.

Rangers: All-Star 3B Adrian Beltre left Friday's game after straining his left hamstring running from first to third on a single. He will have an MRI exam today. … Manager Ron Washington said he was fined for criticizing umpire Angel Hernandez this month. Washington said the fine "wasn't nice" and wouldn't say how much it was. … RHP Brandon Webb, 32, will have rotator cuff surgery again, a setback for the 2006 NL Cy Young Award winner.

Reds: 3B Scott Rolen (strained left shoulder) was put on the disabled list, while RHP Jose Arredondo (strained right forearm) was activated from the DL.

Red Sox: LHP Jon Lester (strained back muscle) is slated to come off the DL and pitch Monday. RHP Clay Buchholz, out since mid June with a back strain, is still feeling discomfort and has only thrown on flat ground.

Judge tells Dodgers to seek loan with MLB 07/22/11 [Last modified: Friday, July 22, 2011 10:50pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Yellow cards stall Rowdies offense in tie with St. Louis


    ST. PETERSBURG — It's not the result they wanted, but it certainly could have been worse. Neill Collins' 87th-minute header off a corner kick was the reward the Rowdies settled for Saturday night during a 1-1 draw with St. Louis before an announced 6,068 at Al Lang Stadium.

  2. Calvary Christian routs Pensacola Catholic to win state baseball title


    FORT MYERS — Calvary Christian left no doubt as to which baseball team in Class 4A was the best in Florida this season. The Warriors defeated Pensacola Catholic 11-1 in six innings Saturday night at Hammond Stadium to claim the school's first state championship in any team sport. It also solidified a 30-0 season. …

    Matheu Nelson celebrates after scoring on a wild pitch during the first inning, when Calvary Christian took a 6-0 lead.
  3. Numerous lapses add up to frustrating Rays loss to Twins

    The Heater

    MINNEAPOLIS — While the Rays made some good defensive plays, threw a couple of big pitches when they needed to and got a few, and just a few, key hits, there were some obvious things they did wrong that led to them losing Saturday's game to the Twins 5-3:

    Rays reliever Tommy Hunter says the Twins’ tiebreaking homer came on a pitch that was “close to where I wanted it.”
  4. Rays journal: Steven Souza Jr. laughing right along after comical dive

    The Heater

    MINNEAPOLIS — Souza being Souza.

    That seemed to be the best way to describe the entertaining — and comically bad — dive Rays RF Steven Souza Jr. attempted in Friday's game, and the good humor he showed in handling the fallout, including a standing ovation his next at-bat from the …

  5. Marc Topkin's takeaways from Saturday's Rays-Twins game

    The Heater

    RHP Jake Odorizzi had to battle without his best stuff again, which is becoming a more common occurrence, leading to long at-bats — including 13 pitches to Kennys Vargas in the fifth — and running up his pitch count to 118 without finishing the sixth.