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Yesterday, the Los Angeles Dodgers declared bankruptcy. Fay Vincent who served as the commissioner of baseball from 1989 to 1992 wrote a column for Fox News debating what this means for the rest of the league and Major League Baseball itself.
He was quick to point out that the two main concerns are - character and financial strength. One of the problems of the Dodgers bankruptcy is that it interjects the court system into baseball's world of politics and agreements. Complete and absolute control of the Dodgers now lays in the hands of a Federal Bankruptcy Court Judge. The issue is almost entirely out of the hands of present commissioner Bud Selig. According to Vincent, "Any time a baseball club comes under the legal control of a court there are risks the baseball interests will be considered subordinate to the interests of the creditors."
What this basically boils down to is that the court can accept someone who is likely to be the highest bidder and willing to pay the highest price for the team. Meanwhile, the highest bidder may not be someone who the baseball owners are in favor of. With rumors of billionaire Mark Cuban having an interest in baseball, we could soon see an interesting situation work out.
What do you think of the Dodgers declaring bankruptcy? Will this harm the league in any significant way?