The blog denizens here at TGP favor the legal profession, and I don't claim to know all of the ownership and lack-of-anti-trust implications of a baseball team takeover. But from a business point of view this is pretty fascinating, and again from a business point of view, entirely justified. Going further into debt to cover operations costs is a classic way to head toward chapter 7 or chapter 11. If you aren't business oriented, what McCourt is doing is akin to borrowing against the credit card to pay the utility bills. Or, maybe more likely, taking out a reverse mortgage, and then partying with the extra cash every month.