Dodgers' revised reorganization plan before judge
WILMINGTON, Del. (AP) - A federal bankruptcy court judge in Delaware is holding a hearing on Friday to decide whether to approve a revised reorganization plan by the Los Angeles Dodgers that would put the team on track to exit bankruptcy by April 30.
The team said earlier this week that it expects that during Friday's hearing U.S. Bankruptcy Judge Kevin Gross will confirm Frank McCourt's plan to sell the team for $2 billion to Guggenheim Baseball Management. Mark Walter, chief executive officer of the financial services firm Guggenheim Partners, would become the controlling owner, and the team would be run by former Atlanta Braves president Stan Kasten.
Several contested matters remain before the court. Among them, Fox, the Dodgers' current broadcaster, wants assurances that competitor Time Warner Cable is not involved in the purchase.