Los Angeles Dodgers, Fox Sports dilemma continues, parking lots now part of mess -MLB Update
It is no surprise to see that the Los Angeles Dodgers of the Major League Baseball (MLB) are continuing to face problems in their sale as Fox Sports recently added to their woes and said that the stadiums parking lots should also be part of the transaction.
Frank McCourt, who is the controlling owner of the team, has many dilemmas going on already at the moment ever since the team filed for chapter 11 bankruptcy protection after they failed to secure any consistent pumping of funds into the club.
Fox Sports, a huge television network channel, has shares in the team as well which is about to be dealt to any potential owners, but as McCourt wants to advertise the media rights to someone else, Fox has moved the court in order to stay the process.
"Mr. McCourt is not necessary to this process," the Fox filing read. "He should get out of the way and let everyone return to the business of baseball."
It was the MLB that allowed McCourt to market the television rights to anyone he wanted along with keeping the Dodger Stadium parking lots as long as he gave them on a long-term lease to whoever would be buying the property.
Since the parking lots make up a huge portion of the total area, Fox Sports claims that this is lowering the value of what the team could actually be sold for.
"McCourt's failure to sell the parking lots certainly depresses the value of the team," Fox claimed.
After Fox filed the plea, Judge Kevin Gross appointed a former federal judge, Joseph Farnan Jr. as the mediator for the entire process, so that the situation may be sorted out as soon as possible without any further delay.
"Media rights will be more valuable in the future, but Mr. McCourt seeks to monetize those rights now since he will not be around," the Fox filing read.
It is still uncertain where all this will lead to as many issues have been entangled in a huge web of mess between Frank McCourt and Fox Sports. However, it will be interesting to see how things unfold as the case progresses.
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