Thursday, February 24, 2011

Breaking News: Bud Selig rejects proposal for Fox to loan McCourt $200 Million

Big story from the L.A. Times. Bud Selig rejected proposal for Fox to loan $200 million to Dodgers.

Bill Shaikin has the big story. {linked here}

Baseball Commissioner Bud Selig has rejected a proposal under which Fox would have loaned 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.

Will Frank McCourt put the Dodgers in the market now?