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Dodgers' financing plan rejected

Updated: July 22, 2011, 8:06 PM ET
ESPNLosAngeles.com

DOVER, Del. -- A Delaware judge on Friday rejected the Los Angeles Dodgers' proposed $150 million bankruptcy financing plan, directing the team to instead negotiate a loan deal with Major League Baseball.

Judge Kevin Gross said in an eight-page order that the team had failed to show the terms of its secured financing with hedge fund Highbridge Capital were fair, given the more favorable financial terms in MLB's unsecured loan offer.

The Dodgers previously rejected MLB's offer and ...

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