Dodgers sue Fox in Bankruptcy court for blocking tv sale.

Discussion in 'Los Angeles DODGERS' started by TuborgP, Nov 16, 2011.

  1. TuborgP

    TuborgP DSP Legend

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    Breaking news details will follow. My gnawing stomach is now full blown.
     
  2. doyerfan

    doyerfan MODERATOR Staff Member Moderator

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    The Dodgers sued Fox Sports on Tuesday, alleging the television company is trying to "interfere with the sale of the Dodgers and their assets in bankruptcy."​

    The suit was filed in U.S. Bankruptcy Court in Delaware, where Fox has a suit pending against the Dodgers for alleged breach of contract.​

    That court also is overseeing the proposed sale of the team, but the sale agreement between Dodgers owner Frank McCourt and Major League Baseball has yet to be filed with the court. The creditors' committee expressed concern Monday that the delay could jeopardize the goal of selling the Dodgers by Opening Day 2012, a goal that could be further jeopardized by the dueling lawsuits.​

    In an effort to get McCourt the highest possible sale price, the Dodgers have asked the court for permission to market the team's television rights. The Dodgers' current TV contract forbids the team from negotiating with any party other than Fox through Nov. 30, 2012, a provision the team has asked the court to declare unenforceable.​

    Fox last week sent a letter to the investment bank handling the Dodgers' sale demanding that it "cease and desist" from claiming it could solicit bids for the television rights regardless of the current Fox contract.​

    The suit the Dodgers filed Tuesday claims that that letter represents "a deliberate attempt by Fox to interfere" with the team sale and charges Fox with "attempts to assert possession of, and exercise control over, property rights of [the Dodgers], including [the Dodgers'] existing and future media rights."​

    In order to get McCourt to sell the team, MLB agreed to remain neutral in the fight between the Dodgers and Fox. The league believes that Fox will prevail -- or at least fight long enough to put at risk McCourt's promise to complete the sale by April 30 -- but the league bargained away its legal leverage.​

    -- Bill Shaikin​
     
  3. TuborgP

    TuborgP DSP Legend

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    More on the topic

    http://www.bloomberg.com/news/2011-...-in-bankruptcy-court-over-tv-contract-1-.html

     
  4. TuborgP

    TuborgP DSP Legend

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    So what do you think Doyer?
     
  5. irish

    irish DSP Staff Member Administrator

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    Exactly I didn't jump on the "I forgive Frank" bandwagon yesterday. I mean, is anyone truly surprised by this? Make no mistake, Frank is all about Frank. Even the Kemp deal was designed to make the team more desirable to potential buyers.
     
  6. doyerfan

    doyerfan MODERATOR Staff Member Moderator

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    I think McCourt is gonna delay this and paint it as, "Hey Dodger fans, I'm trying to sell for you guys but these guys at FOX (Remember them?! The guys you all USE to hate?!) won't let me sell! So hate them now, I'm doing this for you!" And Fox is all, "WTF Man, a contract is a contract, everyone remember that McCourt is the devil!"

    Which delays everything. HOWEVER, McCourt will bite first and try to do anything to get the sale or any money in quickly cause he needs 130 million dollars by April whatever, not to mention he won't have money to make payroll. so yeah
     
  7. Doughty8

    Doughty8 DSP Legend

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    What about Selig's role in this thing. Not including this in the sale agreement terms?
     
  8. TuborgP

    TuborgP DSP Legend

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    A few of us have been trying to suggest that Bud hasn't won a big victory and Frank isn't defeated yet! The agreement has not been made public but it is known that MLB has agreed to stay out of the TV rights issue as part of the settlement.
     
  9. irish

    irish DSP Staff Member Administrator

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    Never mind, ^ what Tuborg said.
     
  10. TuborgP

    TuborgP DSP Legend

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    Remember the divorce settlement has not been approved yet.
     
  11. irish

    irish DSP Staff Member Administrator

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    I thought that had been resolved, with Frank on the hook for $130MM or so by April?...
     
  12. TuborgP

    TuborgP DSP Legend

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    It has been submitted to the court but I am not sure the court has officially approved. I am doing some research now on what happens if Frank doesn't pay the 130 million by April 30
     
  13. TuborgP

    TuborgP DSP Legend

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    I am trying to sort this out now. You know what is going on and have open eyes on all of this. Is Frank playing a match and so far is checking Selig and has a sale price and buyer in mind? Can he retain partial interest in the team per the agreement with MLB that has not been released? We do know the final choice is his as to who gets the team. MLB gets to pre-approve but beyond that is Frank and does not need to be the highest bidder. On a positive note the markets have turned positive for the first time today.
     
  14. Doughty8

    Doughty8 DSP Legend

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    He is defeated by the simple fact that he and the mlb are on record as saying they reached a settlement on the sale and it would be a PR nightmare for both parties, he will be gone. He's just trying to get every single cent in this deal. I have been on record as saying that Selig seemed to get a pass on this and too much credit for bringing about the sale.

    As for the divorce settlement, you sure it wasn't approved? I thought Gross had it. Either way he wouldn't risk having ANOTHER suit and having Jamie back in his life whatsoever.
     
  15. TuborgP

    TuborgP DSP Legend

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    Not sure about the divorce but I thought I read last week that the settlement had not been approved by the divorce court judge. There is a scenario that Frank could be playing out that I thought previously was possible but not likely but now I am wondering.
     
  16. TuborgP

    TuborgP DSP Legend

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    The exact wording has never been released thats why I asked if it said PUT UP FOR SALE or WILL Sell
     
  17. rube

    rube DSP Legend Staff Member Administrator

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    they are both devils
    thats probably why selig gave his blessing to mccourt on this
    he knows that they will bloody each other up and the media will pile on them while Bud and the MLB are no longer being focused on
    might be a good move by the league, unless the court decides to support McCourt
    and the creditors are already clamoring for the judge to let McCourt break the exclusivity clause and sell the tv rights so they can get paid
    i wonder how much the creditors opinions matters in bankruptcy court
     
  18. Doughty8

    Doughty8 DSP Legend

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    True but he's been on a farewell tour and currently has no homes in Los Angeles left. With the media frenzy that has followed it would still be a PR nightmare imo.
     
  19. doyerfan

    doyerfan MODERATOR Staff Member Moderator

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    You guys need some avatars. I thought Tuborg was going crazy and replying to the same posts with 8 different replies
     
  20. TuborgP

    TuborgP DSP Legend

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    very true, will do that next. I dug this up from back when the sale agreement was first announced. Note the thought then and suggested interpretation compared to what is now happening.

    http://www.cnsnews.com/news/article/dodgers-headed-bankruptcy-court-auction-0


     

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