As mentioned this morning, the first issue the bankruptcy court is going to have to decide is whether or not to allow Frank McCourt to finance Dodgers’ operations with that $150 million loan he obtained.
Also as mentioned, Major League Baseball has come up with an alternative financing arrangement, which Bill Shaikin of the Los Angeles Times just reported: Financing at 7% interest as opposed to the 10% McCourt obtained, plus no $4.5 million fee or any other fees on top of it, like the fees wit which McCourt would saddle the team.
Bankruptcy experts, help us out: are these financing arrangements usually judged purely on the dollars (i.e. what costs the debtor the least), or is there a broader analysis in play, encompassing the source of the financing as well? Because if it’s purely dollars, MLB would have to have it beat, one would assume. If McCourt gets a thumb on the scale in his favor as the current owner, however, it may not matter.
The point to all of this, of course, is that if the court decides that MLB’s financing is going to rule the day, it will likely mean that McCourt’s days of calling the shots are over or soon will be.
Updates as warranted.
There are breaking reports of a gunman outside Nationals Park in Washington who open fired during a career fair for concession workers at the ballpark.
Washington D.C. police have been dispatched. There are reports of at least one person injured after having been shot in the face. Police are advising people to avoid the South Capitol area and areas surrounding Nats Park.
More as we learn more.
There is a disturbing report out of the Dominican Republic, yet to be confirmed by police, but in wide circulation thanks to a series of tweets from Hall of Famer Pedro Martinez. The report: that looters encountered a still alive Yordano Ventura after his automobile accident, robbing of him his World Series ring and other possessions, before leaving him to die.
The report comes from Dominican Republic journalist Euri Cabral, who made the claim on a radio station. His comments were picked up by Martinez, who tweeted about it in Spanish. The tweets, collected and translated by the Royals Review blog:
“How outrageous to know that a life like Yordano’s could have been saved had it not been that they looted him the way he was looted . . . Now it is more painful to know that Yordano remained alive after the accident and instead of someone to help him, they robbed him and let him die . . . I hope an investigation will be carried out, because if there is any specific evidence of this, I would feel a great deal of shame for my country.”
As for the state of details which are currently confirmed, Rustin Dodd and Maria Torres of the Kansas City Star report that Ventura crashed his Jeep after leaving an annual festival, losing control and hitting a guardrail in a mountainous area in foggy conditions. Ventura was not wearing a seatbelt at the time and was ejected from the vehicle.
Ventura’s family is said to be pushing for further investigation and clarification as to Cabral’s claims. We will obviously followup with anything Dominican authorities say on the matter.