Saturday, May 28, 2011
Report: Dodgers can cover payroll
Beleaguered Los Angeles Dodgers owner Frank McCourt apparently has managed to stave off the latest concern that could threaten his ability to retain the team.
McCourt has secured the funds necessary to make the team's end-of-May payroll that's due Tuesday, the Los Angeles Times reported late Friday night, citing two sources.
Nonetheless, covering the payroll is not a be-all, end-all solution to the Dodgers' bleak financial situation. McCourt now must try to find funds to make the next payroll, due June 15, one of the sources told the Times.
If McCourt doesn't come up with the money -- he needed a $30 million loan from current television partner Fox to cover his bills earlier this year -- baseball commissioner Bud Selig could take over the team and put it up for sale.
McCourt is battling to stay solvent at a time when the team's financial woes have worsened so badly that Major League Baseball has appointed a monitor to oversee the Dodgers. In addition, Frank McCourt's estranged wife, Jamie McCourt, has asked the judge presiding over the couple's divorce trial to order the sale of the team.
That doesn't even factor in a lawsuit filed by the family of a San Francisco Giants fan who was badly beaten on Opening Day in a Dodger Stadium parking lot.
The McCourts are set to appear before Superior Court Judge Scott Gordon on June 22, when he will consider arguments about why he should order the sale of the Dodgers.
Frank McCourt has said in various media interviews that MLB should approve a 17-year television deal with Fox, which could be worth more than $3 billion and would give the Dodgers about $300 million upfront, money that could solve McCourt's immediate financial problems.
Selig has said he won't make a decision on the deal until a review of the team's finances is complete.
Information from The Associated Press contributed to this report.