The Los Angeles Dodgers and its Debtor Affiliates File Joint Plan of Reorganization Under Chapter 11 of the U.S. Bankruptcy Code

LOS ANGELES, Jan. 20, 2012 /PRNewswire/ -- The Los Angeles Dodgers today filed with the Bankruptcy Court the Joint Plan of Reorganization under Chapter 11 for the debtors, which are comprised of the Los Angeles Dodgers LLC; Los Angeles Dodgers Holding Company LLC; LA Holdco LLC; LA Real Estate Holding Company LLC; and LA Real Estate LLC (collectively the "debtors").  The plan resolves fully the financial challenges confronting the Dodgers that precipitated the filing by the debtors of the Chapter 11 cases through a sale of all of the equity of the Dodgers, which will result in a change in ownership of the team.

As a result of the intended sale and the related reorganization of the debtors, the plan contemplates that all creditor claims will be satisfied in full either through their assumption by the reorganized debtors or by the payment of cash from proceeds from the sale of the Dodgers. 

The Dodgers stated: "The Dodgers are fully committed to maximizing the value of the debtors' estates.  The Dodgers are not only a storied franchise with truly global appeal, but also present the attractive potential for strong cash flow and significant value enhancement.  The combination of these unique attributes is helping to drive significant interest from potential bidders in the Dodger sale process.  The Dodgers expect to identify the highest and best bid prior to the Confirmation Hearing, which is anticipated to be in April."

Implementation of the Plan of Reorganization will include the consummation of a sale transaction on or promptly following the Effective Date of the Plan.  The debtors expect the Effective Date will occur on or before April 30, 2012.

Contact:  Robert Siegfried / Lyndsey Estin / Stef Goodsell
212-521-4800

SOURCE Los Angeles Dodgers