The Los Angeles Dodgers, one of Major League Baseball’s most historic franchises, filed for bankruptcy Monday in Delaware, listing assets of up to $1 billion against $500 million in liabilities.

The decision to enter Chapter 11 comes after an ongoing divorce battle between owners Frank and Jamie McCourt and a recent ruling by MLB commissioner Bud Selig rejecting a proposed $3 billion television contract for the team over the next 17 years.