A look at what's on deck in the LA Dodgers ownership saga

Dodgers Creditors Meet in Bankruptcy Case

The team filed for bankruptcy in June after Major League Baseball refused to ok a television deal

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    NEWSLETTERS

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    August 2010: LA Dodgers owner Frank McCourt leaves Los Angeles County Superior Court.

    Creditors in the Dodgers bankruptcy case are meeting in Delaware to find out more about the team's financial situation. 

    Document: List of Dodgers Creditors

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    The team's creditors met Wednesday morning with the team's chief financial officer at the federal building in downtown Wilmington, Del. Peter Whilhelm said the team made no payments or loans to
     team owner Frank McCourt in the two years before the club's bankruptcy filing.

    Wilhelm also said McCourt  contributed $23.5 million to the team in the 90 days prior to the filing.

    The creditors will continue to gather information about the team's bankruptcy filing. A team representative is required to appear under federal law to answer the creditors' questions.

    The meeting comes a day after a group of Dodgers season-ticket holders asked for a say in bankruptcy court. The fans said in a filing that they -- much like the creditors owed money from the Dodgers -- have a stake in the case.

    A date was not set to hear whether they have standing.

    Also on Tuesday, a request from the team's souvenir vendor to expedite a decision on its contract with the Dodgers was denied by the judge. During that proceeding, attorneys for merchandiser FMI testified that the turnstile count this season at Dodger Stadium is projected to be 2.2 million to 2.3 million.

    That was compared to 1982, when the count was 3.6 million.

    The turnstile count is a more accurate number when determining how many people are actually in seats at a game. It refers to the number of tickets used as opposed to the number of tickets sold.

    The team filed for bankruptcy protection on June 27, blaming Major League Baseball for refusing a week earlier to approve a multibillion-dollar TV deal with Fox Sports that McCourt was counting on to keep the troubled franchise afloat and meet payroll deadlines at the end of June.

    Selig's rejection of the TV deal came after he took the extraordinary step in April of assuming control of the troubled franchise and appointing a monitor to oversee its day-to-day operations, saying he was concerned about the team's finances and how the Dodgers were being run. His decision also effectively nullified the McCourts' property-division settlement, which anticipated approval of the TV deal.

    That set up a July hearing at which the Dodgers and Major League Baseball squared off over a financing arrangement. The team wanted approval of a $150 million financing arrangement that MLB challenged with a financing offer of its own.

    The judge rejected the Los Angeles Dodgers' proposed financing plan, a decision that forced owner Frank McCourt to negotiate a financing plan with Major League Baseball.

    Related: No Quick Decision on Souvenir Vendor
     

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