General Motors filed Chapter 11 bankruptcy in 2009, after having lost about $100 billion in the 2000s and losing its spot as the world’s top-selling auto maker. Just two years later, GM posted a $7.6 billion profit, the largest profit ever in the history of that automaker.
After the owner of the Los Angeles Dodgers bought the team in 2004, he was caught up in a messy bankruptcy and an even messier divorce. The team was just sold to a group of investors in March, and Mr. McCourt might earn a $1 billion profit off of his initial investment.
The Texas Rangers
The franchise declared bankruptcy in 2011, in the aftermath of owner Tom Hicks’ financial woes. The franchise has won the American League in the past two seasons, and seems poised to do so again.