This looks like the beginning of the end for Frank McCourt.Richard Sandomir of the New York Times first tweeted the news about at about 8:30 a.m. And Michelle Steele of Bloomberg followed up by reporting that the Dodgers have filed for Chapter 11.
Chapter 11 will give McCourt some time to get his financial house in order, but he still needs the approval of a TV deal with Fox to keep MLB from taking over the club. A deal that baseball commish Bud Selig rejected last week.
McCourt would likely need a court order to send the deal through, but the LA Times is reporting that Fox may back out of the deal all together.
More should be coming throughout the day.
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