Grand Slam Track Owes More Than $31 Million, New Filings Show

Grand Slam Track's latest bankruptcy filings show the league is in dire financial straits, and could collapse within weeks without a high-interest loan from one of its backers, reported Front Office Sports.

"In many cases, it makes sense that the pre-petition secured creditor is at least the first option—if not the only option—to lend more money to the debtor based on its needs to get through the bankruptcy case," said James B. Zack, a member of Ballard Spahr's Bankruptcy, Creditors' Rights, and Restructuring Group.

Read the full article here. (Subscription may be required.)