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Latest On Dodgers' Payroll Problems
The Dodgers lack the funds to meet their second May payroll due at month's end, wrote Bill Shaikin of the L.A. Times last night. Last month's $30MM loan from Fox will only carry them through the first May payroll. According to Shaikin, MLB would cover the team's expenses if the Dodgers can't and would have the option to seize the team.
As Shaikin notes, owner Frank McCourt believes MLB has already effectively seized the Dodgers by failing to approve the Fox television contract and appointing Tom Schieffer to be in charge of the team's finances. But this payroll situation could accelerate the MLB-McCourt showdown, says Shaikin. He explains the possibilities:
McCourt [may be forced] to find outside financing to meet the second May payroll, surrender the team or file suit against MLB. It is "very unlikely" that Fox would extend another loan to McCourt, a person familiar with the matter said.
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