With his proposed Fox television contract rejected and end of the month payroll looming, Frank McCourt and his lawyers recently had dialogue with MLB that have focused on his willingness to sell part of the team to keep it afloat, writes Tim Brown of Yahoo! Sports. A source tells Brown that McCourt has received “numerous inquiries” from parties willing to buy a piece of the team.
Bud Selig has been adamant in his refusal to allow clubs to use future earnings to pay off past debt, which is why the Fox deal was shot down. It’s unclear if the recent dialogue between McCourt and the league have resulted in any progress toward his retention of the club, but Brown’s source hears that the owner might not be able to meet payroll next week. If he doesn’t, MLB will likely step in and seize the team.
The Mets recently sold a minority share of the team to David Einhorn for about $200MM, giving that franchise a much needed cash infusion.