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SBD/October 24, 2011/Franchises
Published October 24, 2011
PLEADING THEIR CASE: An ad hoc group of Dodgers season-ticket holders made a final plea late Friday for official recognition in the club's bankruptcy case. The club and its creditors have both steadfastly opposed the designation, which would give the season-ticket holders a greater voice in the reorganization plan, and obligate the Dodgers to pay their legal fees. A hearing on the matter is slated for tomorrow. The Dodgers have argued that since all games were played and obligations to season-ticket holders were honored, there is no need to have them recognized as an official committee. But the season-ticket holders argued that financial impairment is not bankruptcy code threshold for forming official committees. "When the [Dodgers] have asserted that declining ticket sales are one of the very reasons that these cases must move expeditiously to resolution demonstrates the Official Committee's lack of commitment to representation of the season ticket holders' concerns in these cases," the filing reads in part (Eric Fisher, SportsBusiness Journal).
TO-DO LIST: In Philadelphia, Kate Fagan offers up two areas that new 76ers ownership should address. The group can “drag the team's in-game experience into 2012,” as the show inside the Wells Fargo Center “has been stale for years.” In addition, the group can move the team’s practice facility as it is “11 miles from the Wells Fargo Center in South Philly.” Fagan: “Some NBA teams' facilities might be more inconvenient, but none come to mind” (PHILADELPHA INQUIRER, 10/23).
SET FOR A LOSS: In London, Nick Harris noted EPL club Manchester City will “soon publish their annual accounts for the 2010-11 season and are expected to post the biggest one-year loss in English football history.” The club's losses in the '09-10 season “were a record” US$193M. In comparison, Manchester United has “just posted results for 2010-11 that showed a record income” US$528.6M for the ‘10-11 season and “record operating profits” of US$176.93M (DAILYMAIL.co.uk, 10/22).