After having a proposed deal with Fox rejected by the league, Frank McCourt and his attorneys have reached out to MLB over the last few days in an attempt to secure interim funding to keep the team afloat, writes Bill Shaikin of the Los Angeles Times. However, the league told McCourt it won't assist with funding unless he agrees to sell the team, according to Shaikin's source.
As we heard yesterday, McCourt is open to selling a minority stake in the Dodgers, but the league "has all but rebuffed" the idea. McCourt didn't submit names of potential investors when league officials originally suggested selling a minority share. Now, with this week's payroll deadline looming, the approval process for potential investors wouldn't be completed in time.
McCourt will need close to $30MM to meet payroll this Thursday. If he's unable to produce the necessary funds, Bud Selig could seize the Dodgers and put the club up for sale, though likely not without litigation from McCourt's lawyers.
