Citing MLB refusal to sign off on a transaction that would provide the team with $385 million, the Dodgers file for bankruptcy protection in a Delaware court. Although there will be no disruption to the day-to-day status of the franchise, the Chapter 11 financing permits the Dodgers to use $150 million for daily operations and gives owner Frank McCourt time to seek a media deal that will ensure the club’s long-term financial stability.

On June 27, 2011 Citing MLB refusal to sign off on a transaction that would provide the team with $385 million, the Dodgers file for bankruptcy protection in a Delaware court. Although there will be no disruption to the day-to-day status of the franchise, the Chapter 11 financing permits the Dodgers to use $150 million for daily operations and gives owner Frank McCourt time to seek a media deal that will ensure the club’s long-term financial stability.

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