Dodger debt total: $573 million

Everybody will be paid off once the team is sold. The Chapter 11 reorganization plan is set for court approval on April 13. From the LAT:

The Dodgers say they intend to exit bankruptcy by April 30, the same day by which outgoing owner Frank McCourt has to satisfy two obligations: (1) close the sale of the team, under his agreement with Major League Baseball; (2) pay his ex-wife Jamie $131 million, under his divorce settlement. In addition to the $573 million in debt and $131-million divorce settlement, Frank McCourt's attorneys have said a sale could result in up to $200 million in taxes. That would put McCourt's total obligations at up to $904 million, not counting any income tax penalties or liability to [Bryan] Stow's family.

By the way, Chapter7.com has an interesting graphic on the history of sports franchises going bankrupt. Here's the roster:

--Seattle Pilots, 1970: The Seattle Pilots declared bankruptcy to counteract an injunction by the state of Washington that sought to prevent them from moving to Milwaukee and becoming the Brewers.

--Pittsburgh Penguins, 1975, 1998: In 1998, to keep their season going, many Penguins players deferred their salaries. Star Mario Lemeiux was owed so much that he became a partial owner.

--Cleveland Barons, 1978

--Baltimore Orioles, 1993

--Los Angeles Kings, 1995

--Ottawa Senators, 2003

--Buffalo Sabres, 2003: The Sabres declared bankruptcy shortly after their owner was convicted of fraud and sentenced to 15 years in prison.

--Phoenix Coyotes, 2009

--Texas Rangers, 2010


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
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