*LAT: MLB raising objections to Dodger deal

This afternoon's hearing in U.S. Bankruptcy Court has not been smooth sailing, according to tweets from the LAT's Bill Shaikin. Tom Lauria, an attorney for Major League Baseball, says the sale documents are not final and that the league constitution gives Baseball Commissioner Bud Selig final say. Lauria also says that MLB has issues with the debt financing being arranged by Guggenheim Partners, as well as provisions regarding the parking lots and land surrounding Dodger Stadium. According to a Shaikin tweet, Judge Kevin Gross said, "I'm surprised we are at this stage at the confirmation hearing... I thought this was going to be a celebration-type occasion." Dodger attorney Bruce Bennett has been turning aside Lauria's objections, especially the part about the sale agreement being subject to review and revocation. What a way to spend a Friday night in Delaware.

*Update: Reading Bill's tweets (they're pretty entertaining), it seems as if the parking lot deal between Guggenheim and Frank McCourt has become a particular sore spot.

*Gross has called for a 15-minute recess (have these guys eaten?)

*Gross says the sale agreement is in conformance with the bankruptcy code. He also says he'll retain jurisdiction over the parking lot issue.

*Shaikin tweets that Gross seems ready to approve the sale, as expected. Check that - Gross has approved the sale.


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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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