McCourt's Loan from Fox Rejected By MLB
I’m getting my seat warmed at STAPLES Center last night watching the Kings play in their first home game since Jan. 26, click on Google Reader and look what was there: the L.A. Times’ Bill Shaikin and his report that MLB commissioner Bud Selig rejected Fox’s loan to Dodger owner Frank McCourt.
A couple of things are remarkable about this story. Firstly Shaikin reported for the first time that the amount of the loan amounted to $200 million. That’s quite a bit of scrap right there.
This is not the case of an owner having a tough quarter and needing to meet payroll for his year-round employees and other expenses. McCourt is not waiting for the revenues from ticket sales, concessions, parking and revenue sharing to come in to help float the business.
This is the Oh-Shit-I’m-Flat-Broke-And-I-Have-Exhausted-Every-Other-Possibility-And-I-Don’t-Want-That-Wench-To-Get-A-Share-Of-The-Team loan.