Tuesday, May 03, 2011
Words For McCourt; Bankruptcy This Month Possible, Says LAT
You have been sat too long here for any good you have been doing. Depart, I say, and let us have done with you. In the name of God, go!The Times analogue of the WSJ story I shared earlier says that McCourt could run out of money this month.
The cash shortage was confirmed Tuesday by two people familiar with the matter, speaking on condition of anonymity because of the possibility of McCourt filing suit against MLB.Yay. Not that I think the players having to go through some weird payroll processing is any fun, but jettisoning Frank is infinitely preferable to any future with him running the team.
McCourt received a $30-million loan from Fox last month, which provided funding for the Dodgers' two April payrolls and is expected to carry them through the first May payroll. The second May payroll, due at month's end, is the one that appears problematic at this time.
If McCourt were to fail to meet payroll, the league would cover the expenses and would have the option to seize the Dodgers from him, according to one of the people familiar with the situation.