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Closing Bell

Dodgers Filing Shows Team Wants To Hold Auction For TV Rights

The Dodgers' bankruptcy filing shows that the team plans to "hold a 'competitive sale process' to secure a new cable television contract within 180 days." The club's current contract with Fox extends though '13 and "forbids the team from negotiating with any other entity" before Nov. 30, 2012. Time Warner Cable's new Lakers channel "would be a likely bidder, which could force Fox to choose" between joining MLB in opposing an auction and "risking the loss of a valuable television property" (LATIMES.com, 6/27).

Meanwhile, Jamie McCourt's attorney, David Boies, today released a statement about the filing that reads in part, "Today's bankruptcy filing is disappointing and disturbing. ... The rule or ruin philosophy that appears to have motivated today's filing is bad for everyone who cares about, or has interest in, the Dodgers." Boies' statement also said the team's finances were "stable and improving" when McCourt served as CEO (LATIMES.com, 6/27).

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