Despite Los Angeles Dodgers' owner Frank McCourt's best efforts to stave off financial ruin by holding onto the Dodgers, MLB and Commissioner Bud Selig have an Ace up their sleeve.
When the Dodgers organization filed for Chapter 11 Bankruptcy yesterday, that put in motion the mother of all save opportunities for one of baseball's most historic franchises.
In the MLB bylaws, there is a provision that if a team declares bankruptcy, MLB has the opportunity to come in and seize the team (seems like a reasonable provision). Last year, the Texas Rangers filed for bankruptcy, but that was a relatively quick process and there was an immediate sale of the team.
McCourt is trying desperately to save his ownership of the Dodgers, but he may have forced MLB's hand here. One would wonder if it came to a legal battle, would MLB go that far?
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