The Broke and the Beautiful: World Series Edition

This week on The Broke and the Beautiful, the Texas Rangers come closer to winning their first World Series, the Los Angeles Dodgers and owner Frank McCourt are fraught with drama, and a $10 million home on South Florida’s Star Island that was once owned by rapper Vanilla Ice is hitting the auction block.

A little over a year ago, the Texas Rangers were striking out in bankruptcy. But even though they lost Thursday to the St. Louis Cardinals in a dramatic 11-inning Game 6, they’re closer than ever to clinching their first World Series title. Nolan Ryan, a former Rangers player himself and the team’s chief executive, president and part owner, is still “bringing the heat” to the team, according to the Associated Press. Ryan even caught (or tried to, anyway) a ceremonial first pitch in Game 4 on Monday.

As USA Today noted, Chuck Greenberg, who helped Hall of Famer Nolan Ryan buy the team out of Chapter 11, is watching from afar. Greenberg, who was ousted as chief executive in March and hasn’t attended a Rangers game this season, is calling the Series “bittersweet.”

The Los Angeles Dodgers are having yet another drama-filled week. First, ESPN LA reported, the MLB accused owner Frank McCourt of “looting” the team out of nearly $190 million. Then, as the team cut season-ticket prices, a group of season-ticket holders abandoned their efforts for their own committee in the Dodgers’ bankruptcy case. As Bankruptcy Beat noted, the group, which includes descendants of crooner Frank Sinatra and entertainment lawyer Jack Stutman, instead got two seats on the official committee representing all unsecured creditors.

And the idea of McCourt selling the team may not be out in left field at all. As the Los Angeles Times reported, the Dodgers postponed their bankruptcy trial to Nov. 29 from next Monday as McCourt discussed a potential deal with the MLB.

But that’s not all for the Dodgers. As we noted in Friday’s Daily Docket, McCourt attorney Jerome Jackson said San Francisco Giants fan Bryan Stow—who was brutally beaten at Dodger Stadium on Opening Day and is now one of the team’s biggest creditors—should share some of the liability with his attackers, also noting that the team shouldn’t be held liable.

The Dallas Stars may be on top in the NHL’s Western Conference, but the hockey team isn’t scoring any favors with the Internal Revenue Service. As Daily Bankruptcy Review reported, the IRS wants the Wilmington, Del., bankruptcy court to block the team’s reorganization plan, which calls for the Stars to exit Chapter 11 in the hands of businessman Tom Gaglardi. The IRS said the plan doesn’t account for its rights under bankruptcy law.

A South Florida home once owned by rapper Vanilla Ice is hitting the auction block next week, the Miami Herald reported. The Star Island home, which is currently owned by bankrupt businessman Claudio Osorio, is set to start off with a $10.5 million starting bid. Osorio, whose InnoVida Holdings LLC also fell into bankruptcy, has been forced to sell his home as part of his bankruptcy plan. Some of the home’s finer perks? A three-bedroom guest house, a powder room finished in Tiger’s Eye stone and Venezuelan cedar front door, according to the South Florida Business Journal.