Monday, June 20, 2011

Developing: MLB vetos Dodger TV contract, McCourt in trouble

((ht: latimes))

It appears that L.A Dodger owner Frank McCourt's last chance at raising enough money to make his end of the month payroll has gone kaput. McCourt had been holding on, hoping the league would okay his and the teams new TV deal with Fox Sports, which would have given McCourt and extra $170 million plus of funding.

Commissioner Bud Selig, said "Neigh". Oh, it also apparently negated a court ordered settlement in the Frank and Jamie McCourt divorce case, part of the impetus for the Dodgers problems for the past year or so.

The league already helping operate the team, this dissolving of the Fox deal means the team is likely to cede ownership to the league who would then put the team up for sale, something McCourt has indicated he'll fight that in court

Read more from the LA Times RIGHT HERE

This is just a "Gawd-awful" mess. One reason Major League Baseball insisted on payment, is the McCourt's (pre-divorce), blew $100 million dollars of team money on themselves. Should MLB step in, they would cover the team's payroll, and get the rights to sell the team, something Frank McCourt, despite his running of the Dodgers into the ground, is trying to avoid.

We could go on for a long, long time about how arrogant and stupid Frank McCourt has been in his tenure as Dodger owner, but we'll refrain. It took long enough to explain the bizarre financial crisis the team is in now and we aren't sure we even covered all of it. We hope Commissioner Bud Selig will step in and put McCourt and his run as owner, out of Dodger fans...and baseball fans misery.

Here's Rebecca Hall's report on the denying of the deal...

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