By Evan Brunell
Frank McCourt is expected to make payroll on June 15, but is not expected to be able to shoulder the load on June 30, the Los Angeles Times reports.
Payments essentially triple on June 30, partly due to Manny Ramirez being due $8.33 million of deferred salary. McCourt needs to come up with around $30 million, while June 15 will only require an outlay of about $10 million.
McCourt really needs the Fox TV deal that has been held up for quite some time to go through to meet June 30's requirements, and commissioner Bud Selig is dragging his feet on approving the deal. Selig could theoretically take over the team and make payments, then put it up for sale. There is a court hearing on June 22 that could change everything, as McCourt's ex-wife Jamie will try to force a team sale while Frank will seek to have Jamie's right to block the TV deal removed. Both sides reportedly have been holding settlement talks that could also affect the outcome.
Selig appointed a "monitor" in Tom Schieffer to review the Dodgers' finances, which is expected to be completed at some point this month. At that time, Selig will presumably have a better idea of how to proceed with the mess that is Dodgers ownership.
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Blog Entry
Dodgers' McCourt unable to meet June 30 payroll
Posted on: June 14, 2011 10:43 am
Edited on: June 14, 2011 10:57 am
Comments
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hotmeuly Since: Dec 2, 2011 |
Posted on: December 22, 2011 11:42 am
This comment has been removed.
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Since: Dec 2, 2011 |
Posted on: December 5, 2011 7:28 pm
Dodgers' McCourt unable to meet June 30 payrollActually attention-grabbing web-site. Im certainly spending to reading considerably more strings.
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Since: May 17, 2011 |
Posted on: June 15, 2011 8:19 pm
BrooklynMove 'em back to New York. This guys wife sounds like a nightmare...
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Since: Jun 15, 2011 |
Posted on: June 15, 2011 4:46 pm
MOVE the Dodgers to Erie, PAWhy so far away? Keep'm in Ca.
Does Irwindale still have that gravel pit for sale? |
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Since: Apr 22, 2007 |
Posted on: June 15, 2011 1:37 am
Dodgers' McCourt unable to meet June 30 payrollto another Giants World Series
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Since: Mar 2, 2009 |
Posted on: June 14, 2011 11:59 pm
Dodgers' McCourt unable to meet June 30 payrollThe bottom line is that the league needs to take over the team and it's finances until a suitable ownership can be established. Competent professional new ownership is the only long term solution.
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Since: Mar 30, 2010 |
Posted on: June 14, 2011 11:26 pm
Purrrr-fectI can think of no other organization or city more deserving of this kind of implosion.
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Since: Jul 9, 2009 |
Posted on: June 14, 2011 8:27 pm
Dodgers' McCourt unable to meet June 30 payrollI have nothing to say in McCourt's defense, and I have no idea whether the TV deal should be approved. Maybe it shouldn't, since the Dodgers might be borrowing too much against what should be future revenues. But what I don't understand is why it's taking so long for MLB to decide--one way or the other--what should be done about the TV deal. They've had this deal in front of them for approval for a LONG time now, and they claim they're "studying" it, that they farmed it out to some committee to study it, etc., etc., etc. I don't know if you can convince me that they couldn't have studied it sufficiently by now, and it certainly looks like they're stalling. And you KNOW that McCourt will sue them over the delay--whether he has to sell the team in the meantime or not. And don't be TOO sure that if he does sue, he won't win.
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Since: Jun 13, 2011 |
Posted on: June 14, 2011 5:20 pm
Dodgers' McCourt unable to meet June 30 payrollThe Dodgers front office may in a lot of trouble but that doesn't mean the team isn't doing well. Matt Kemp is one of the best hitters in baseball. Check out fanMeter on facebook to pick the Dodgers today
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fuzznutz Since: Oct 6, 2006 |
Posted on: June 14, 2011 5:11 pm
This comment has been removed.
Post Deleted by Administrator |
