Squire Sanders partners Thomas J. Salerno and Jordan A. Kroop co-authored with The Honorable Redfield T. Baum, US Bankruptcy Court, District of Arizona, Chapter 28 in the Collier Guide to Chapter 11: Key Topics and Selected Industries. Professional sports team bankruptcies present competing interests between an owner seeking to maximize the value of a team and the league’s desire to exercise control over the team. “Chapter 11 Cases Involving Professional Sports Franchises” addresses the unique issues involved in professional sports team bankruptcies, a relatively uncommon occurrence that has grown in frequency over the last few years. The issues discussed include:
- League tendency to refer to teams as franchises
- Team interest in altering operations after filing
- The nature of and limits on league control over assets
- League attempts to thwart antitrust implications
An overview of the Guide is available online.
Tom and Jordan have also authored the article “For Sale: The LA Dodgers Media Rights. Get ‘Em While They’re Hot!” which provides a close look at the Dodgers bankruptcy case referenced in Chapter 28 of the guide. The article is available online as a blog post on the LexisNexis Bankruptcy Law Community.