Los Angeles Dodgers Bankruptcy
In papers submitted in Delaware bankruptcy court Tuesday, the league objected to the Dodgers’ request for authorization to enter into a $150 million financing arrangement with a group of lenders in order to meet cash flow needs, including a Thursday payroll deadline.
Commissioner Bud Selig claims in the filing that his office can provide a loan on better terms, and argues that the court should reject McCourt’s financing proposal because it compels the team to sell valuable future broadcast rights to meet current expenses and to provide money for McCourt’s personal use.
Source:sports.yahoo
