Blog Entry

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: Oct 9, 2007
Posted on: May 4, 2011 12:46 pm
 

Without TV deal, McCourt can't meet May payroll

Selig wants to eventually have control of the Dodgers. As stated, the Dodgers are a Cash Cow and McCourt does not even know how to market his product AT ALL. The Yankees and the Dodgers are the 2 biggest names in baseball and he can't sell it. The wrong McCourt kept the team. I now know why Joe Torre left, he left while the checks were still good. The ones I feel sorry for here are the players having to deal with this situation. The owners and commisioner are working to sort the garbage that was dealt. So many have already made this statement but I will say it again, Mark Cuban needs to buy the team. He is a passionate owner, he puts money in to his franchises and lets face it he will market the Dodgers and sell merchandise. What were the Dallas Mavericks before he bought them? Dallas was a bottom dweller year in and year out and he turned them in to a winning team. The Dodgers are already respectable and far better than the Mavs were when he took them over, I have no doubt that he could really do well with the Dodgers and that huge market.




Since: Oct 30, 2008
Posted on: May 4, 2011 12:25 pm
 

Without TV deal, McCourt can't meet May payroll

I simply have two points here:

1. Hell's Kitchen Chef threw out the first pitch, but somehow was front row at the Lakers game less than an hour later.  Get people to come to your games!  You suck as an advertiser.  You barely even need to market your team, they are the legendary Dodgers.  Holy cow, this guy is rich how?  It must be family money because he clearly knows nothing about business.  MLB can postpone the ruling until you can't pay your players, and there is nothing that can be done.

2. McCourt's Ex was better at managing than him.  I don't even think I need to back that statement up with anything.  This is the first time in history that a woman was better than a man at something!  Just kidding of course, I love breasts!!! 
      
; MLB should just let his ex wife run the team and castrate McCourte for being a cocky idiot...


vicodin
Since: Nov 5, 2006
Posted on: May 4, 2011 12:18 pm
This comment has been removed.

Post Deleted by Administrator




Since: Apr 1, 2009
Posted on: May 4, 2011 12:15 pm
 

Without TV deal, McCourt can't meet May payroll

this guy is a complete douch


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