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McCourt Loan Proposal Rejected By MLB

Mccourt Loan

First Posted: 02/25/11 02:25 PM ET Updated: 05/25/11 07:35 PM ET

latimes.com:

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

Read the whole story: latimes.com

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Filed by Billy Silverman  |