The L.A. Dogers filed for Chapter 11 bankruptcy today, a week after Major League Baseball killed a $3 billion Fox deal to provide the team with the cash it needed to meet payroll.
TMZ reports that the top 40 creditors—including 23 current and former team members—are owed a total of $74,121,433. The money trouble affects players like current slugger Matt Kemp (MVP favorite so far this year and yep, Rihanna's ex), who's reportedly owed $216,944, a low sum compared to what other players are owed. Former Dodger Manny Ramirez, for instance, is reportedly owed $20,992,086.
The Dodgers were able to arrange for $150 million in debtor-in-possession (DIP) financing to fund operations during the reorganization. Owner Frank McCourt has said the team will continue playing and all salaries will be paid, but experts say the sale of the team out of bankruptcy is likely.
(Photo: Josh Tompson/Landov)
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