In a statement just released by Major League Baseball, Selig will appoint a representative to oversee the day-to-day business operations of the Los Angeles Dodgers.
Here is the official statement from MLB on behalf of Selig:
“Pursuant to my authority as Commissioner, I informed Los Angeles Dodgers owner Frank McCourt today that I will appoint a representative to oversee all aspects of the business and the day-to-day operations of the Club. I have taken this action because of my deep concerns regarding the finances and operations of the Dodgers and to protect the best interests of the Club, its great fans and all of Major League Baseball. My office will continue its thorough investigation into the operations and finances of the Dodgers and related entities during the period of Mr. McCourt’s ownership. I will announce the name of my representative in the next several days."
“The Dodgers have been one of the most prestigious franchises in all of sports, and we owe it to their legion of loyal fans to ensure that this club is being operated properly now and will be guided appropriately in the future.”
As was reported earlier this week, McCourt had taken a $30 million personal loan from FOX just to meet team payroll for the next month.
Selig has already rejected a proposed $200 million loan from FOX to McCourt, using future television rights as collateral.
Currently being proposed is an agreement between FOX and McCourt that would give exclusive rights to Dodgers' broadcasts at a price of $3 billion over 20 years.
Considering that McCourt is some $400 million in debt, Selig is very wary of that particular proposal, knowing that McCourt desperately needs the money to clear personal debt, rather than putting the bulk of the money back into the Dodgers.
We will update this breaking story as more information is made available.
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