25 October 2011

MLB Accuses Frank McCourt of Looting From Dodgers: Report

Dodgers owner Frank McCourt looted nearly $190 million from the Dodgers and put the money to non-baseball use, including payment of personal debts, according to  Delaware bankruptcy court documents filed Monday.

The Changeup: McCourt Era Timeline, Key Issues in Bankruptcy Case

Using team revenue for non-baseball use is one of 10 MLB rules broken by McCourt, the league said. A violation of any league rules are grounds for termination of McCourt's franchise.

The league claimed McCourt took $73 million in parking revenue through a non-team related entity, and he used $61 million in team revenue to pay personal debts. McCourt used $55 million of team revenue for personal use, according to the court documents.

"The Dodgers are in bankruptcy because McCourt has taken almost $190 million out of the club and has completely alienated the Dodgers' fan base,'' the league said in its filing.

The league has sharply criticized McCourt for his stewardship of the team, but the filing marks the first time Major League Baseball has accompanied its allegations with a dollar amount.

Another filing Monday involves the case of San Francisco Giants fan Bryan Stow, who was attacked in the Dodger Stadium parking lot after an opening day game.

Stow, who was moved from a San Francisco hospital to a rehabilitation factility this month, is likely to be a central figure at next week's scheduled bankruptcy hearing. Stow's representatives sit on the official committee of Dodger creditors, which requested denial of the Dodgers' bid to auction television rights -- a key component of the team's financial future.

The league said Stow's case was an example of inadequate security at Dodger Stadium. The Dodgers claimed the league has given the public a "misimpression" regarding stadium security and said the team was "on top of the situation."

Follow USA LOCAL NEWS for the latest LA news, events and entertainment: Twitter: @USA LOCAL NEWS // Facebook: USA LOCAL NEWS

No comments:

Post a Comment