On June 27, 2011, a Los Angeles-based entertainment company entered bankruptcy proceedings. The company, a venerable institution with a global brand known worldwide, had been rendered nearly insolvent after its husband-and-wife ownership duo (who had needed a loan to purchase the company in the first place) entered divorce proceedings. A messy, two-year legal battle ensued, involving allegations of infidelity, embezzlement, and tax evasion. And it was ultimately revealed that the company, whose finances were dangerously leveraged, was days away from being unable to make payroll.
That company was Los Angeles Dodgers, Inc., and the legal battle is relevant to Red Sox fans right now, because its principal was one Frank McCourt, who, just nine years prior, had come really, really close to purchasing the Boston Red Sox.