Dodgers TV Deal Rejected By MLB
Dodgers owner Frank McCourt had a proposed TV deal worth $3 billion with Fox. McCourt would have received $385 million upfront, which would help him make payroll at the end of his month, and in the short-term future. Major League Baseball rejected the deal today, and issued a statement explaining why.
MLB Commisioner Bud Selig released the following: “This decision was reached after a full and careful consideration of the terms of the proposed transaction and the club’s current circumstances. It is my conclusion that this proposed transaction with FOX would not be in the best interests of the Los Angeles Dodgers franchise, the game of Baseball and the millions of loyal fans of this historic club.”
Steve Susman released a reactionary statement from McCourt which said the following:
“We are extremely disappointed with the Commissioner’s rejection of the proposed FOX transaction which would inject $235 million into the Los Angeles Dodgers. As Commissioner Selig well knows, this transaction would make the Dodgers financially secure for the long term and one of the best capitalized teams in Major League Baseball.
“Commissioner Selig’s letter of rejection is not only a disappointment, but worse, is potentially destructive to the Los Angeles Dodgers, and Major League Baseball. Accordingly, we plan to explore vigorously our options and remedies with respect to Commissioner Selig’s rejection of the proposed FOX transaction and our commitment to protect the long-term best interests of the Los Angeles Dodgers.”
The messy divorce between Frank and Jaime McCourt, coupled with public records of how McCourt spent and distributed Dodger money has put McCourt in “hot water” over the last year. If McCourt is unable to make payroll on June 30th, MLB could take over full control of the Los Angeles Dodgers, and eventually sell the team.