Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

  1. You have chosen to ignore posts from fir.eballer58. Show fir.eballer58's posts

    Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    Former slugger Manny Ramirez is...
     Manny Ramirez
    By Jerry Kronenberg/Boston Herald

    Call it a case of Manny seeking money.

    The Los Angeles Dodgers filed for Chapter 11 bankruptcy today — and listed former Dodgers and Red Sox [team stats] slugger Manny Ramirez [stats] as their biggest creditor, owed $21 million.

    Dodgers owner Frank McCourt, a former Bostonian who sold a huge undeveloped lot in South Boston to buy the team, sought bankruptcy to keep Major League Baseball from seizing the franchise.

    The Dodgers are facing financial difficulties because McCourt and his wife — who’s also involved with the team — are currently fighting over the franchise as part of a messy divorce.

     
  2. You have chosen to ignore posts from ZILLAGOD. Show ZILLAGOD's posts

    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    The Dodgers and Mets are both victims of poor ownership, bad management and bad decisions galore.

    If Manny is listed as being owed $21 million , is it some kind of crime for him to try and collect it? How about Andruw Jones who is owed $11 million?...is he supposed to say "aw, just forget it..."

    Didn't the Dodgers agree on contracts for these players?

    This appears to be a weak attempt to make Ramirez look like some kind of crook and to make the Dodgers seem like poor things.
     
  3. You have chosen to ignore posts from SpacemanEephus. Show SpacemanEephus's posts

    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    Manny had Chavez Ravine overflowing with fans and energy.  He probably made the Dodgers $21 mil in gate receipts/ballpark revenue alone.
     
  4. You have chosen to ignore posts from tomnev. Show tomnev's posts

    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    Knowing Manny....he doesnt even know he is owed the Money.
     
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    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    It is a legal move that IMO won't pass muster in BK court. Payroll is protected as first debtor and is no subject to debt reduction in a bankruptcy.

    So the Dodger lawyers are trying to frame deferred contracts as creditors rather than payroll obligations. I don't think it will fly in court. It also probably just gives MLB more motivation to take the club over. Deferral has long been used in sports to reduce true cost by doing contracts based on the current value of money and the going rates for players and then having inflation actually reduce the true cost to the franchise. If McCourt were to prevail in getting payroll deferral classified as a "creditor" rather than a payroll debt, nobody would ever agree to sign a contract with deferred money again.

    Seems everybody, Jamie McCourt, the divorce court, the media, the fans and MLB know that Frank has to sell his team. Only Frank seems to be in denial.
     
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    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    In Response to Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?:
    [QUOTE]Manny had Chavez Ravine overflowing with fans and energy.  He probably made the Dodgers $21 mil in gate receipts/ballpark revenue alone.
    Posted by SpacemanEephus[/QUOTE]

    Correct answer
     
  7. You have chosen to ignore posts from tom-uk. Show tom-uk's posts

    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    Deferral has long been used in sports to reduce true cost by doing contracts based on the current value of money and the going rates for players and then having inflation actually reduce the true cost to the franchise. If McCourt were to prevail in getting payroll deferral classified as a "creditor" rather than a payroll debt, nobody would ever agree to sign a contract with deferred money again.

    True true  Why is this allowed? This practice should be reined in. Correct me if I am wrong but the Wilpon business model was to defer contracts to maximize the funds put into the Ponzi-man's scheme. 
     
  8. You have chosen to ignore posts from betterredthandead. Show betterredthandead's posts

    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    Good time to offer Ellsbury and Lowrie and Doubrant for Kemp.
     
  9. You have chosen to ignore posts from harness. Show harness's posts

    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    But Manny made the money under false pretenses. Isn't juicing illegal?
     
  10. You have chosen to ignore posts from SinceYaz. Show SinceYaz's posts

    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    Posts: 15795
    First: 10/16/2007
    Last: 6/28/2011
    But Manny made the money under false pretenses. Isn't juicing illegal?



       Only under some circumtances ...www.crossfitoakland.com/old_site/jack-lalanne.jpg" alt="" /> ...    Jack swore by it!!!
     
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  12. You have chosen to ignore posts from Diamondtalk. Show Diamondtalk's posts

    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    Manny Ramirez is owed $21M by the Dodgers.    Also, John Henry has to cut him a check for $1.925M plus interest every July 1st starting this year and  through the year 2026 as deferred money owed him from his original deal with the Sox when John Henry wasn't yet the owner of the team.
     
  13. You have chosen to ignore posts from pri360. Show pri360's posts

    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    In Response to Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?:
    [QUOTE]It is a legal move that IMO won't pass muster in BK court. Payroll is protected as first debtor and is no subject to debt reduction in a bankruptcy. So the Dodger lawyers are trying to frame deferred contracts as creditors rather than payroll obligations. I don't think it will fly in court. It also probably just gives MLB more motivation to take the club over. Deferral has long been used in sports to reduce true cost by doing contracts based on the current value of money and the going rates for players and then having inflation actually reduce the true cost to the franchise. If McCourt were to prevail in getting payroll deferral classified as a "creditor" rather than a payroll debt, nobody would ever agree to sign a contract with deferred money again. Seems everybody, Jamie McCourt, the divorce court, the media, the fans and MLB know that Frank has to sell his team. Only Frank seems to be in denial.
    Posted by fivekatz[/QUOTE] The deferred payments due to players are protected under the collective bargaining agreement; so one way or another, these players
    will be paid.

     
  14. You have chosen to ignore posts from pri360. Show pri360's posts

    Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?

    In Response to Re: Guess who is listed as the largest creditor of the LA Dodgers, in the team’s bankruptcy filing made today?:
    [QUOTE]Deferral has long been used in sports to reduce true cost by doing contracts based on the current value of money and the going rates for players and then having inflation actually reduce the true cost to the franchise. If McCourt were to prevail in getting payroll deferral classified as a "creditor" rather than a payroll debt, nobody would ever agree to sign a contract with deferred money again. True true  Why is this allowed? This practice should be reined in. Correct me if I am wrong but the Wilpon business model was to defer contracts to maximize the funds put into the Ponzi-man's scheme. 
    Posted by tom-uk[/QUOTE] Its another form of cash management for the team. Its perfectly legal. It also serves the player well, especially if they weren't careful with their earnings during the first part of their career (don't forget many of these players are very young when they receive these large annual salaires). In some cases, like Bobby Bonilla, I'm pretty sure his deferred money (from the Mets) is coming in at a much lower tax rate than when he was playing (Manny, not so much; it's such a huge amount that was deferred). As for the Wilpons, be careful not to believe too much of what you hear on sports radio shows or read in the sports columns. Most sports writers are way out of their league when it comes to commenting on balance sheets, cash flow, return on capital etc. Until the trustee makes his case in court, which it will probably never get to ......... all of these comments about mets ownership being complcit are just allegations.
     
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