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Without TV deal, McCourt can't meet May payroll

Posted on: May 4, 2011 11:48 am
 

By Evan Brunell

McCourtThe Dodgers saga is far from over, as the Los Angeles Times reports that Frank McCourt will be unable to meet May payroll without approval of a TV deal with FOX that will give L.A. $3 billion, with $285 million payable immediately that would cover payroll for the remainder of the season.

However, that deal is wallowing at the feet of commissioner Bud Selig who is awaiting both the approval of McCourt's ex-wife, Jamie, for the deal along with Tom Schieffer's OK. Schieffer was recently appointed as monitor of the Dodgers in a power-grabbing move by Selig that is thought to be an attempt by the commissioner to push McCourt out of town. Schieffer is reviewing all Dodger finances and Selig will not approve any deal until Schieffer completes that review. 

"It will be a thorough investigation," Schieffer said. "I would anticipate it would be longer than two weeks."

It's possible Schieffer will not conclude his investigation until the end of May, which will really put the squeeze on McCourt. Even if Schieffer comes through and OKs the deal, it's difficult to imagine Selig giving the green light in time for McCourt to pay his players. With the Dodgers then defaulting on payroll obligations, Selig would be able to legally and formally seize the team from McCourt and force a sale. McCourt could circumnavigate this by negotiating yet another personal loan, but it is unlikely FOX would grant another personal loan on top of the $30 million lent for McCourt to meet April payroll.

That means what is already a messy situation could get messier. If Selig doesn't release his grip on the TV deal and McCourt faults with baseball grabbing the team, McCourt would certainly sue over the proceedings and would have a solid case in court as he could easily contend that baseball froze him out and made him unable to make his payments through no fault of his own. Of course, McCourt dug his own grave, but you can't blame him for trying to climb out of it.

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Comments

Since: Dec 2, 2011
Posted on: December 10, 2011 6:15 pm
 

Without TV deal, McCourt can't meet May payroll

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Since: Dec 2, 2011
Posted on: December 6, 2011 4:07 pm
 

Without TV deal, McCourt can't meet May payroll

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Since: Nov 5, 2010
Posted on: May 6, 2011 3:37 am
 

Without TV deal, McCourt can't meet May payroll

They need be sold soon so they can go with life and get owners who care for them.



Since: Jan 9, 2007
Posted on: May 5, 2011 10:34 am
 

Without TV deal, McCourt can't meet May payroll


Thanks for taking my post the right way. It is rare on these boards.




Since: Feb 11, 2009
Posted on: May 5, 2011 5:07 am
 

Without TV deal, McCourt can't meet May payroll




Since: Mar 27, 2007
Posted on: May 4, 2011 5:07 pm
 

Without TV deal, McCourt can't meet May payroll

the deals in player salaries and owners do need to change all around now i know mccourt screwed over the dodgers himself along with his wife when they compromised the team and the city with their own deals to benefit their own lives and circumvented money from not just the team but the fans and the stadium.  life used to be good when we could take our families to watch a game and enjoy what the teams did and this is even when salaries were a million dollars a year for a player.  comp[ared to the common man that is a good chunk of change and part of why we are in such a deep depression is because we can just produce money for the sake of having it.  its time for some deflation amongst the owners and players and bring prices down for all of us to enjoy a game again. and this applies to all sports im actually a dodgers fan but i think id rather root for the small market teams where payroll is lower



Since: Aug 10, 2008
Posted on: May 4, 2011 4:47 pm
 

Without TV deal, McCourt can't meet May payroll

I have a solution...Sell 50% of the team to Vince McMahon and the other 50% to Mark Cuban.  Then watch them succeed.



Since: Jul 3, 2007
Posted on: May 4, 2011 3:54 pm
 

Without TV deal, McCourt can't meet May payroll

What the hell are the players going to do? Not like they have any other skills. Surprised



Since: Jul 17, 2008
Posted on: May 4, 2011 3:22 pm
 

Without TV deal, McCourt can't meet May payroll

Kind of hope that Fox says no to the deal. McCourt did dig his own grave and lets see if he can get out of it on his own. Selig is a cancer for baseball and needs to stay out of the negotiations with Fox. Let em fail




Since: Jan 1, 2007
Posted on: May 4, 2011 3:21 pm
 

Without TV deal, McCourt can't meet May payroll

I didn't read your comment to begin with; just posted. Assuming, typical Pats fan :)


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