The iconic Los Angeles Dodgers baseball team has been a part of the LA scenery since 1958.
But this week the financially-strapped Major League Baseball outfit filed for bankruptcy protection.
It was the last-gasp attempt of owner Frank McCourt to keep the league from seizing the team, which he’s owned since 2004.
McCourt has been struggling to meet financial commitments due to heavy debts and a bitter divorce battle with his estranged wife Jamie.
In August the Los Angeles Superior Court will decide whether the Dodgers belong to Mr McCourt or should be shared with his wife.
A split is likely to force the team’s sale and sports bankers are saying if that happens the value of the historic club could reach a baseball record one billion dollars.
The Dodgers originally filed for protection after baseball Commissioner Bud Selig rejected what is believed to have been a three billion dollar television contract.
A deal that would have pumped much-needed cash into the franchise, whose future now appears to be in the hands of the courts.