Yes, in fact major league baseball teams have filed for bankruptcy. Now, keep in mind, they filed under Chapter 11, a reorganization, you will not be able to take home some rare memorabilia from a fire sale.
In fact, The Chicago Cubs, Los Angeles Dodgers, Texas Rangers are among the most recent bankruptcy filers. Often, it is a way to restructure long term stadium deals, ownership changes, and even as part of a divorce…I’m looking at you LA.
So take it to heart, bankruptcy can be a great tool to help you achieve your long term goals. Don’t let negative connotations get you sidetracked on your way to financial freedom if you are considering bankruptcy case. Get the facts from competent legal counsel. Read more about chicago bankruptcy here.