Skip to Content
Los Angeles

MLB’s Boot Meets Frank McCourt’s Neck

Bud Selig, who originally approved McCourt as owner, now appears done with him

As his team optimistically prepares for a new season in the Arizona desert, Frank McCourt is desperately trying to line up financing after Major League Baseball commissioner Bud Selig denied him the chance to borrow serious money from Fox. In a move that many will interpret as Selig's washing his hands of the distracting and embarrassing McCourt drama, MLB last month rejected a plan that would have given him an additional $200m to play with. Bill Shaiken of the LA Times reports:

Baseball Commissioner Bud Selig has rejected a proposal under which Fox would have lent about $200 million to Dodgers owner Frank McCourt, three people familiar with the discussions told The Times. McCourt would have used the Dodgers' cable television rights as collateral, extending the team's current contract with Fox by as many as four years if he did not repay the loan, according to the individuals, who were briefed on the proposal but who are not authorized to discuss it.

Selig made his decision several weeks ago. Since then, McCourt has continued to explore financing options that would enable him to satisfy the commissioner and manage a debt that, according to court records, exceeded $430 million as of November 2009.

The Times reported last month that Fox had advanced McCourt money from the team's current television contract to help cover operating expenses. Sugerman declined to discuss how Selig's decision might affect McCourt's ability to manage the Dodgers' finances.

Selig has indicated he might withhold approval of any minority investor or broadcast contract proposed by McCourt. The commissioner last year rejected a proposed TV deal between Fox and the Texas Rangers, one that would have eased the severe financial burdens on Tom Hicks, then the Rangers' owner.

The team ended up in Bankruptcy Court. Fox considered bidding for the Rangers so as to secure the team's television rights, then negotiated a contract with the team's new owners, worth a reported $1.6 billion over 20 years.

That deal averages $80 million per year. The Fox loan to McCourt could have enabled the company to secure an extension to the Dodgers' rights at about $50 million per year had McCourt not repaid the proposed loan.

Stay in touch

Sign up for our free newsletter

More from L.A. TACO

Come Laugh With L.A. TACO and Jesus Trejo At Our First Comedy Show, Tomorrow Night At The Comedy Store

Proceeds go to help L.A. TACO in our mission to bring you the greatest food and most urgent news in Los Angeles, without all the corporate interference.

June 24, 2024

California Mandates Drug-Test Kits at Bars and Nightclubs Starting July 1st. Here’s What to Know

Roofies have been used as accomplices to sexual assault, human trafficking, theft, and other crimes. Bars and nightclub owners hope that providing drug-test kits for their drinks may help their customers feel safe and return more often despite a general dip in the consumption of alcohol in California.

June 21, 2024

‘Not Like Us:’ Kendrick Lamar Unifies Los Angeles In A One-Night-Only Juneteenth Concert, Placing West Coast Unity At the Forefront

“The Pop Out” wasn’t just a showcase of the breadth of talent and music that Los Angeles has to offer—it was a cultural renaissance, a presentation of art bursting with unity and West Coast pride. In a city with so much pain and suffering throughout history, “The Pop Out” showed that community is everything.

These Nayarit-Style, Ceviche-Stuffed ‘MarisCocos’ in Compton Taste Just As Good As They Do On the Beach

Each young coconut is macheted to order and imported from Colima. The tender meat is mixed in with the ceviche and its refreshing coconut water is served in a plastic bag. They are about the size of basketball and weigh five pounds—at least. It's officially summertime in Los Angeles!

June 20, 2024

Ten Architecture Gems to Visit in L.A.: If These Walls Could Talk

Did you know that one of the 11 world's most beautiful post offices in the world is located in Hollywood? And the "skinniest house" in the entire U.S. is located in Long Beach? Plus, Gargoyles. L.A. is for architecture lovers...if you know where to look.

See all posts