Tuesday, October 25, 2011

MLB to Frank McCourt "You took $190 million out of the team"

I'm just praying this ends soon. Hopefully before 2012 Opening Day. That would be great.

MLB accused Frank McCourt of taking almost $190 million out of the team.

From Bill Shaikin of the L.A. Times - {linked here}

For the first time, Major League Baseball put a specific number on the amount it alleges Dodgers owner Frank McCourt took out of the team -- $189.16 million -- and described the distributions as "looting."

"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 MLB filing read.

In the filing, the league claimed McCourt funneled $73 million in parking revenue through Blue Land Co., a non-team related entity; used $61.16 million in team revenue to pay off personal debts; and took $55 million from team revenue for personal distributions.

It's going to get nasty starting next week. The court in Delaware has scheduled a four-day hearing. McCourt and Bud Selig are expected to testify.

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